CFO and Deputy CEO Seppo Parvi leaves Stora Enso during the fourth quarter of 2024
On May 17, 2024, Stora Enso announced that CFO and Deputy CEO Seppo Parvi will leave the company during Q4 2024 to join a company outside the forest industry. Parvi, who joined in 2014, has been pivotal in transforming Stora Enso into a leader in renewable materials. President and CEO Hans Sohlström expressed gratitude for Parvi’s contributions. The search for Parvi’s successor will begin immediately. Stora Enso, a major player in packaging, biomaterials, and wooden construction, reported 2023 sales of EUR 9.4 billion and has 20,000 employees. Its shares are listed on Nasdaq Helsinki and Stockholm, and traded on OTC Markets in the USA (SEOAY).
- Seppo Parvi played a key role in transforming Stora Enso into a leader in renewable materials.
- Immediate search for a successor indicates proactive management.
- Stora Enso reported 2023 sales of EUR 9.4 billion, reflecting strong financial performance.
- Stora Enso is a major player in the global bioeconomy, providing renewable products in packaging, biomaterials, and wooden construction.
- The company has a significant workforce of 20,000 employees, indicating robust operational capacity.
- The departure of Seppo Parvi, a significant figure in the company, might cause uncertainty and affect investor confidence.
- The transition period until a new CFO is appointed could lead to temporary leadership instability.
- Potential disruption in the company’s ongoing projects and strategies due to leadership change.
- There is a risk of stock volatility following the announcement of Parvi's departure.
STORA ENSO OYJ STOCK EXCHANGE RELEASE 17 May 2024 at 12:00 EEST
"Since joining in 2014, Seppo Parvi has, in his role as CFO and member of Stora Enso's Group Leadership Team, been integral in transforming Stora Enso to 'The renewable materials company'. He has also played an important role as Stora Enso's Country Manager Finland, and in developing the forest industry more broadly. On behalf of Stora Enso, I want to express our sincere gratitude for Seppo's significant contributions to Stora Enso and wish him the very best in his future endeavours," says Hans Sohlström, President and CEO of Stora Enso.
Stora Enso will immediately begin the search for Seppo Parvi's successor.
Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. Stora Enso has approximately 20,000 employees and our sales in 2023 were
storaenso.com/investors
STORA ENSO OYJ
For further information, please contact:
Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691
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SOURCE Stora Enso Oyj
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