RAUTE CORPORATION STOCK EXCHANGE RELEASE 24 MAY 2022 at 8:00 a.m.
RAUTE CORPORATION'S BOARD OF DIRECTORS APPOINTS MIKA SAARIAHO AS NEW PRESIDENT AND CEO
Raute Corporation's Board of Directors has appointed Mika Saariaho as the new President and CEO. He will join Raute from Metso Outotec Corporation where he holds the position of Senior Vice President, with responsibility for the crusher wears business. He will take over the position as Raute's President and CEO at the latest on November 24, 2022.
Mika Saariaho has more than 20 years of experience and a solid track record in international business, especially in technology companies. Prior to the formation of Metso Outotec, he worked in various leadership roles in both Metso and Outotec starting in 2010. Before this he worked for, among others, the World Steel Association, Outokumpu and McKinsey. He was born in 1973 and is a Doctor of Science (Technology).
"We are delighted to inform about this appointment and believe that Raute will be welcoming an excellent new President and CEO in Mika Saariaho. Mika's extensive experience and competence provide him with an excellent foundation from which to take on this new position and to lead Raute along a profitable path. We would like to extend a warm welcome to Mika," says Raute's Chair of the Board of Directors Laura Raitio.
"This position is a challenge that I am happy to take on. Raute has a long and distinguished history, a strong position as a technology supplier and a stable and long-standing owner base. I would like to thank the Board of Directors for their trust in appointing me. I look forward to working with Raute's team to develop the company's operations and create growth hand in hand with our customers' success," says Mika Saariaho.
As announced earlier, the company's Chief Operating Officer (COO) Petri Strengell will act as the company's interim President and CEO until Mika Saariaho takes over the position. Thereafter, Strengell will continue in his role as COO and member of the company's Executive Board. "The Board of Directors is happy with the approach that Petri and the entire Executive Board have taken in a challenging situation while managing the company during this transition period," Laura Raitio says.
Chair of the Board of Directors
Laura Raitio, Chair of the Board of Directors, mobile number +358 50386 0004
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute's customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute's full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute's head office is located in Lahti, Finland. The company's other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai/Changzhou area of China and in Pullman, Washington, USA. Raute's net sales in 2021 were EUR 142.2 million. The Group's headcount at the end of 2021 was 802. More information about the company can be found at www.raute.com.