Stora Enso CEO Jouko Karvinen to step down after seven years at company's helm, will remain in his position until a successor is found; board of directors 'regrets his decision,' says chairman

Debra Garcia

HELSINKI , April 23, 2014 (press release) – Stora Enso Chief Executive Officer Jouko Karvinen has expressed a desire to leave his position after heading the Company for seven years.

“Jouko Karvinen initiated discussions with the Board of Directors late last year about his wish to retire from the Company during 2014. The Board regrets his decision and Jouko Karvinen will continue as CEO until a successor is found,” says Stora Enso Chairman Gunnar Brock.

Stora Enso is the global rethinker of the paper, biomaterials, wood products and packaging industry. We always rethink the old and expand to the new to offer our customers innovative solutions based on renewable materials. Stora Enso employs some 29 000 people worldwide, and our sales in 2013 amounted to EUR 10.6 billion. Stora Enso shares are listed on NASDAQ OMX Helsinki (STEAV, STERV) and Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) in the International OTCQX over-the-counter market.

STORA ENSO OYJ

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