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Stora Enso Names Jouko Karvinen as New Chief Executive

Oct. 17, 2006 - Stora Enso has named Jouko Karvinen, M.Sc. (Eng.), as the company's new Chief Executive Officer. He will succeed Jukka Härmälä, who is stepping down from the position in March and will continue to undertake special assignments specified by Stora's Board of Directors until the end of August 2007.

Karvinen is currently CEO of Philips Medical Systems Division and a member of the Board of Management of Royal Philips Electronics. He will join Stora Enso on January 1, 2007 and assume the role of CEO following the company's Annual General Meeting on March 29.

Karvinen, 49, holds a Master of Science degree in Electronics and Industrial Economics from Tampere University of Technology in Finland. He has had a 25-year career in industrial automation and, more recently, healthcare technologies in business-to-business markets.

He joined Royal Philips in 2002 to head its Medical Systems Division following four US acquisitions. The division had revenues of EUR 6.3 billion in 2005.

Before joining Philips, he was responsible for the Automation Division of ABB Group Ltd. He served ABB Group in several international positions and was a member of the ABB Group Executive Committee from 2000 to 2002.

SOURCE: Stora Enso




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