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UPM: Malinen Named President of North American Paper Operations

Thursday, January 29, 2004

Press release from the issuing company

WESTMONT, Ill., Jan. 28 -- Heikki Malinen, 41, who has served as President of Sales for UPM's North American publication papers operations for the past two years, will become President of UPM, North America on April 1. In this role, he will be responsible for overseeing the sale of UPM's publication papers throughout North America (NA), as well as operations of the Company's two papers mills, in Minnesota and New Brunswick, Canada. Before joining UPM, Malinen worked for Jaakko Poyry Consulting, where he was a Managing Partner responsible for the consultancy's North American practice. Before that, he was a Manager in the Atlanta office of management consulting firm McKinsey & Company, Inc. Malinen holds an MBA from the Harvard Business School and a Master of Science in Economics from the Helsinki School of Economics. Kevin Lyden, who has served as president of the Company's North American operations since they were formally created in 2000, and before that as President of UPM Blandin paper mill in Grand Rapids, Minn., UPM's first North American paper mill, will return to his home country of the United Kingdom as UPM's Managing Director of Sales in the U.K. That appointment is also effective April 1.




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