Stora Enso appoints a new CFO and a new EVP Packaging Solutions division

Rhea-AI Summary

Stora Enso (SEOAY) has announced key leadership changes, appointing Niclas Rosenlew as the new Group Chief Financial Officer and Carolyn Wagner as Executive Vice President of the Packaging Solutions division. Both will join the company by January 2025, replacing Seppo Parvi and Ad Smit, respectively.

Rosenlew, currently CFO at SKF, brings extensive experience in finance and international organizations. Wagner, presently Divisional CEO of Packaging at Klingele Paper & Packaging Group, offers strong industry insight. These appointments aim to support Stora Enso's growth transition and enhance its packaging solutions business.

Stora Enso, a leading provider of renewable products in packaging, biomaterials, and wooden construction, reported sales of EUR 9.4 billion in 2023 and employs approximately 20,000 people globally.

Positive

• Appointment of experienced CFO Niclas Rosenlew with background in listed companies
• Addition of Carolyn Wagner with strong packaging industry expertise
• Strategic moves to support company's growth transition and value creation
• Strengthening of leadership team to advance packaging solutions business

Negative

• Potential disruption due to leadership changes
• Transition period until January 2025 for new executives to join

STORA ENSO OYJ STOCK EXCHANGE RELEASE 24 July 2024 at 8:00 EEST

HELSINKI, July 24, 2024 /PRNewswire/ -- Stora Enso has appointed Niclas Rosenlew Group Chief Financial Officer. He will replace Seppo Parvi, who has previously announced that he will leave Stora Enso to continue his career outside the Company. Stora Enso has also appointed Carolyn Wagner Executive Vice President, Packaging Solutions division. She will replace Ad Smit who will retire. They will join Stora Enso latest in January 2025 and be members of Stora Enso's Group Leadership Team.

Niclas Rosenlew is currently Group CFO at the Swedish stock-listed industrial company SKF, a position held since 2019. Prior to his current role, he held a CFO position at Basware, and senior finance positions at Microsoft and Nokia. Niclas holds a Master of Science degree in Finance.

"I am delighted to welcome Niclas Rosenlew to the role as Stora Enso's new CFO. Niclas has extensive experience in leading, developing and reshaping large international organisations. His solid background in CFO and other senior positions in listed companies will be immensely valuable in Stora Enso's continued growth transition, value creation and in reaching our financial targets. I would like to express our utmost gratitude to our current CFO Seppo Parvi for his dedicated service over the past decade and wish him success in his new professional role," says Stora Enso's President and CEO Hans Sohlström.

Carolyn Wagner is currently Divisional CEO of the Packaging Division at the German Klingele Paper & Packaging Group. Prior to her current role, she has held senior positions at other European corrugated packaging companies, amongst others, DS Smith and SCA. Carolyn holds a degree of Graduate Engineer Packaging Technology.

"Carolyn's strong packaging industry insight will be important in developing and advancing our packaging solutions business. I would like to thank Ad Smit for his key role in integrating De Jong Packaging Group into our existing packaging solutions business after the acquisition, and wish him all the best for the future," Sohlström says.

"I am thrilled about the opportunity to join Stora Enso and, as part of the team, contribute to its success," says Niclas Rosenlew.

"It is with great pleasure that I take up my new position in Stora Enso. With exciting opportunities ahead, our goal is to lead the industry, enhance sustainable growth, and offer superior global products and services," says Carolyn Wagner.

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 EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). 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 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-appoints-a-new-cfo-and-a-new-evp-packaging-solutions-division,c4018003

The following files are available for download:

https://news.cision.com/stora-enso-oyj/i/niclas-rosenlew,c3321359	Niclas Rosenlew
https://news.cision.com/stora-enso-oyj/i/carolyn-wagner,c3321360	Carolyn Wagner

 

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SOURCE Stora Enso Oyj

FAQ

Who is the new CFO of Stora Enso (SEOAY)?

Niclas Rosenlew has been appointed as the new Group Chief Financial Officer of Stora Enso (SEOAY), replacing Seppo Parvi.

When will the new executives join Stora Enso (SEOAY)?

The new executives, Niclas Rosenlew and Carolyn Wagner, will join Stora Enso (SEOAY) by January 2025 at the latest.

What was Stora Enso's (SEOAY) sales figure in 2023?

Stora Enso (SEOAY) reported sales of EUR 9.4 billion in 2023.

Who is the new Executive Vice President of Packaging Solutions at Stora Enso (SEOAY)?

Carolyn Wagner has been appointed as the new Executive Vice President of the Packaging Solutions division at Stora Enso (SEOAY).