Stora Enso Appoints Lars Völkel as Head of Wood Products Division

STORA ENSO OYJ STOCK EXCHANGE RELEASE 28 April 2020 at 9.30 EEST

HELSINKI, April 28, 2020 /PRNewswire/ -- Stora Enso has appointed Lars Völkel as EVP, Head of Wood Products division and a member of the Group Leadership Team. He will start on 1 July 2020 and be based in Stockholm.

Lars Völkel is a German citizen who is currently the CEO of Ambibox GmbH, a renewable energy & electronic vehicle charging company in Germany. Previously he has worked as CEO at the Swiss company Franke Kitchen Systems, and as EVP Luxury retail & CEO of Poggenpohl at the European kitchen group Nobia. He has also held various managerial positions at Electrolux. He has a MSc degree in business administration and a leadership degree from IMD Lausanne.

Lars Völkel brings a wide experience in management in all parts of the value chain with a specific focus on the commercial side. He has strong people management skills also in difficult business environments, and has the ability to translate strategy into action.

"I am happy to welcome Lars Völkel to Stora Enso and our leadership team. Lars' experience is the perfect match for achieving our goal of accelerating the growth agenda for our Wood Products division. By providing value-added solutions for climate-positive wooden buildings, we are enabling the transition of societies to sustainable building practices. Lars will bring us valuable commercial experience with his solid international background in leadership and experience in operations. I also appreciate his proven track record in business transformation, in leading businesses to profitable growth through business model innovation and digitalisation," says Stora Enso's President and CEO Annica Bresky.

Part of the bioeconomy, Stora Enso is a leading global provider of renewable solutions in packaging, biomaterials, wooden constructions and paper. We believe that everything that is made from fossil-based materials today can be made from a tree tomorrow. Stora Enso has some 25 000 employees in over 30 countries. Our sales in 2019 were EUR 10.1 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY). storaenso.com

STORA ENSO OYJ

For further information, please contact:
Ulrika Lilja
EVP, Communications
tel. +46 72 221 9228

Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767

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