Metso Appoints Laine President, CEO of New Valmet Corp.
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Metso, Finland, has appointed Pasi Laine, M.Sc in Engineering, president and CEO of the new company to be demerged from Metso Corp. and named Valmet Corp. (see article in Pulp & Paper section above). Laine is currently president of Metso's Pulp, Paper and Power business, and he will continue in this position until assuming the duties of the president and CEO of the new company. He has been a member of the Metso Executive Team since 2006.
"Metso's board of directors has studied the requirements of the new position carefully and has considered both external and internal candidates. Our target has been to find the best possible person for the role of president and CEO of Valmet Corp. Pasi Laine has had a long and successful career at Metso, holding various management positions in Metso's Automation and Pulp, Paper and Power businesses," said Jukka Viinanen, chairman of the board of Metso.
"It is an honor to be given this new opportunity to develop Metso's Pulp, Paper and Power business as an independent company and implement our business strategy and accelerate growth. Our goal is to be the leading global technology and service provider for the pulp, paper, and power industries. The new Valmet will be a modern and dynamic listed company," Laine said.
If Metso's extraordinary general meeting approves the demerger of Metso, the appointment will take effect on the planned registration date of the demerger, December 31, 2013. Metso plans to hold an extraordinary general meeting on or about October 1.
Matti Kähkönen will continue as president and CEO of Metso Corp. Until the demerger, Laine will continue as president of Metso's Pulp, Paper and Power business, reporting to Kähkönen.
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