Stock Exchange release March 1, 2004 08:02:30 AM CET
JORMA ELORANTA TO START AS PRESIDENT AND CEO OF METSO CORPORATION
Jorma Eloranta, M.Sc. (Tech.), started as President and CEO of Metso Corporation on March 1, 2004. He was appointed in November 2003 by the Board of Directors of Metso Corporation. Olli Vaartimo, who has been the acting President and CEO of Metso Corporation, will continue as Metso's Executive Vice President, CFO and deputy to CEO.
Jorma Eloranta, who was born in 1951, comes to Metso from Kvaerner Masa-Yards Inc., where he held the position of as President and CEO. Prior to that, he has been President and CEO of Patria Industries Group in 1997-2001, Deputy Chief Executive of Finvest Group and Jaakko Pöyry Group in 1996-1997 as well as President of Finvest Ltd in 1985-1995.
In addition to his position in Metso, Jorma Eloranta is the Vice Chairman of the Board of Aspocomp Group Oyj, a Board Member in Kvaerner Masa-Yards Inc. and a Vice Chairman of the Supervisory Board of Sampo Life Insurance Company Ltd. Jorma Eloranta has announced to the Board of Aspocomp Group Oyj that he will not be available for re-election in the Aspocomp Annual General Meeting in 2004.
Metso Corporation is a global supplier of process industry machinery and systems, as well as know-how and aftermarket services. The Corporation's core businesses are fiber and paper technology (Metso Paper), rock and mineral processing (Metso Minerals) and automation and control technology (Metso Automation). In 2003, the net sales of Metso Corporation were EUR 4.3 billion and the personnel totaled approximately 27,400. Metso Corporation is listed on the Helsinki and New York Stock Exchanges.