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Papierfabrik Scheufelen announces management changes

Press release from the issuing company

Papierfabrik Scheufelen GmbH & Co. KG (Scheufelen), the manufac-turer of coated wood free premium papers based in Lenningen, Ger-many, and owned by the Finnish paper group Powerflute OYJ (Power-flute or the Group), today announces the following management changes:

Michael Spallart stepped down as CEO of Scheufelen on 31 December 2010 to assist Powerflute with development projects elsewhere in the Group.

Kim Jokipii, who left Scheufelen in December 2009 following the com-pletion of a successful transition to Powerflute ownership, will return as CEO in January 2011.

Hariolf Koeder, who left the company earlier in the year to pursue aca-demic studies, will rejoin with immediate effect as Deputy Chief Execu-tive Officer. In this new role, he will resume responsibility for sales and marketing and business development.

Commenting on the changes, Powerflute's CEO Marco Casiraghi said:
"We are delighted that Hariolf Koeder has agreed to rejoin us and re-gard his appointment as a major strengthening of our management team. Kim Jokipii has been involved in the graphic paper sector for over 40 years and since December 2009 associated with the Group as member of the Scheufelen advisory board. Both his knowledge and experience will be invaluable for the further development and growth of Papierfabrik Scheufelen. We are confident that the appointments will be well received by employees, customer and suppliers. We thank Mi-chael Spallart for his contribution at Scheufelen during what has been a very challenging period."


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