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UPM-Kymmene Corporation appoints new President and CEO

 Saturday, November 4, 2023

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UPM-Kymmene Corporation appoints Massimo Reynaudo as the President and CEO. He will take up the charge of the office after Jussi Pesonen leaves his office. Jussi Pesonen will continue as the President and CEO until December 31 2023, after which he will work as an advisor to the Company and its management until he will retire from UPM on 30 April, 2024. Massimo Reynaudo will take up the charge of the office from January 1, 2024.

Massimo Reynaudo has been with UPM since 2017. Reynaudo is an Italian citizen and was born in 1969. He is currently Executive Vice President, UPM Communication Papers. Prior to that, he served as Senior Vice President of UPM Raflatac from 2017 to 2021. Earlier in his career, between 1995 and 2017, he held several senior positions at Kimberly-Clark Corporation. He has a master’s degree in engineering from Politecnico di Torino and additional studies in business administration and management.

Wishing the best for Massimo, Henrik Ehrnrooth, Chair of the Board of UPM said, “Massimo has an excellent international background and a very solid track record at UPM as an engaging change leader. Both in UPM Raflatac and in UPM Communication Papers, he has driven positive change of the businesses, renewed the commercial strategy and built high-performing teams to improve the performance of each business. He has a clear vision of how to continue value creation through UPM’s Biofore strategy. I wish Massimo the best of success in his new demanding role.”

Jussi Pesonen leaves the company expressing his sincere gratitude and warm wishes for the future. “I do not have words to express my deep gratitude to all UPMers. Together, we have come a long way and reinvented UPM to the benefit of all our stakeholders. I am extremely proud of all that we have achieved during the last twenty years,” says Jussi Pesonen.

With Massimo Reynaudo taking over as the President and CEO, UPM will initiate the process for selecting Executive Vice President, Communication Papers. Massimo Reynaudo also expressed his optimistic views about his new role and said, “I am deeply honoured by the appointment. UPM has a good operating model and very committed employees. Together we will continue to implement our strategy and create a future beyond fossils.”

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