Metso Names Pasi Laine as President and CEO of Proposed New Company

Pasi Laine

June 5, 2013 - Metso's Board of Directors has appointed Pasi Laine as President and CEO of the new company to be demerged from Metso Corporation.

Metso's Board of Directors has signed a demerger plan to separate Metso's Pulp, Paper and Power business into a separate listed company to be named Valmet Corporation. The demerger will require the approval of Metso's Extraordinary General Meeting. If approved, the planned registration date of the demerger will be December 31, 2013.

Pasi Laine is currently President of Metso's Pulp, Paper and Power business, and he will continue in this position until assuming the duties of the President and CEO of the new company. He has been a member of the Metso Executive Team since 2006.

If Metso's Extraordinary General Meeting approves the demerger of Metso, the appointment will take effect on the planned registration date of the demerger December 31, 2013.

Metso plans to hold an Extraordinary General Meeting on or about October 1, 2013.

Matti Kähkönen will continue as President and CEO of Metso Corporation.

Until the demerger, Pasi Laine will continue as President of Metso's Pulp, Paper and Power business, reporting to Matti Kähkönen.

SOURCE: Metso