RAUTE CORPORATION STOCK EXCHANGE RELEASE 19 APRIL 2022 at 1:00 p.m.
RAUTE CORPORATION'S PRESIDENT AND CEO TAPANI KIISKI LEAVES HIS POSITION
Raute Corporation's President and CEO Tapani Kiiski will leave his position by mutual agreement with the company as of 30 April 2022. Kiiski has been Raute's President and CEO since March 16, 2004.
"After discussing the company's next development needs and future growth targets with the CEO, we came to the conclusion that now is the right time for a change. Tapani Kiiski's significant contribution has helped Raute internationalize and develop an increasingly competitive product and service offering. On behalf of the entire company, I want to thank Tapani for his work over the past 18 years and wish him all the best in his future endeavors," says the Chair of Raute's Board of Directors, Laura Raitio.
"After such a long history with the company, leaving this position is naturally bittersweet. The years have been filled with many challenges and successes.We have successfully developed and diversified our business and especially deepened our collaboration with our customers. I thank all Raute employees, our customers and other partners for our good co-operation over the years, and I wish you all great success going forward," says President and CEO Tapani Kiiski.
The company's Board of Directors has initiated the search process for a new CEO.
The Board has appointed Petri Strengell as the company's interim President and CEO effective 1 May 2022. Strengell has been the company's Chief Operating Officer (COO) on the Executive Board since 2019 and has served in various executive management roles as a member of the company's Executive Board since 2004.
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.