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Valmet's President and CEO Pasi Laine to Resign in September 2024

Pasi Laine Pasi Laine

Aug. 18, 2023 - Valmet's Board of Directors has accepted the resignation of Valmet's President and CEO Pasi Laine and related terms and conditions. Mr. Laine will continue as the President and CEO of Valmet until the end of September 2024. The Board of Directors has initiated the search for a successor.

Mr. Laine said, "During the last ten years we at Valmet have achieved a lot together. We have created a strong global organization with a forward-oriented culture that has enabled the company to grow both organically and through well-considered mergers and acquisitions, and consistently improve the company's profitability. The culture is based on our endeavor for renewal and continuous improvement, and on close collaboration within Valmet and with our global customers. Thanks to the committed work by all Valmet people, customers around the world value Valmet as their trusted partner with a unique offering and sustainable business practices. It has been an honor to lead Valmet and to work with all the great people in the company since 2013.

"Now, after being the CEO of Valmet for about ten years and a Valmeteer for 33 years, it is time for my future successor to continue the work with our renewed Executive Team. I will naturally continue to fully focus on our work to consistently improve Valmet's financial performance towards the set targets and serve our customers."

Mikael Mäkinen, Chairman of the Board, Valmet, commented, "Pasi Laine has competently guided and developed Valmet through an exceptional period of growth, firmly positioning Valmet as the world's leading developer and supplier of technologies, services and automation for the pulp, paper and energy industries. Under Pasi's leadership, the company has consistently developed its profitability and stable business portfolio. The Board holds immense respect for these achievements, and we gratefully thank Pasi for his contribution in developing Valmet into a strong and unique company.

"Valmet has a solid foundation to continue and further strengthen its excellent performance path also in the future. It has both organic and further acquisition growth opportunities in its automation, services and process technology businesses."

Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries.

SOURCE: Valmet

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