UPM appoints Aki Temmes as CFO and Petri Hakanen to lead Fibres division

UPM has announced a significant restructuring of its senior leadership team, effective January 1, 2027. The Finnish forest industry group confirmed that Aki Temmes will become the new Chief Financial Officer, while Petri Hakanen will take over as Executive Vice President of UPM Fibres. Both executives will be based in Helsinki and report directly to President and CEO Massimo Reynaudo.

Temmes, who has led the UPM Fibres division since December 2023, will succeed Tapio Korpeinen following his retirement at the end of 2026. Temmes joined UPM in 2003 and has held various finance and business leadership roles, including Senior Vice President of Business Control and Finance Operations. His appointment ensures continuity within the Group Executive Team while bringing extensive operational experience to the CFO position.

Petri Hakanen will step into the role of Executive Vice President for UPM Fibres, succeeding Temmes. Hakanen, currently Senior Vice President of Fibres Finland Operations, has been with the company since 1991. His background includes serving as Chief Technology Officer (CTO), where he oversaw research, development, and investment management. Notably, Hakanen led the Uruguay Development Project from 2018 to 2023, managing the successful delivery and start-up of the Paso de los Toros pulp mill, a critical asset for UPM's global pulp capacity.

The dual appointment reflects UPM's strategy of promoting experienced internal leaders to guide its financial and operational future. Reynaudo highlighted Temmes' combination of financial expertise and strategic insight, alongside Hakanen's deep understanding of both the northern and southern fibre businesses, as key factors in the transition.