UPM launch new business structure

UPM will implement a new business structure to drive clear change in profitability.

UPM’s new structure will consist of the following Business Areas and reporting segments: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper Europe and UPM Plywood.

Forests and wood procurement will be reported in Other operations. The new structure will be valid as of 1 November 2013.

The new Paper Business Areas will be located at the centers of their markets. UPM Paper Asia will be headquartered in Shanghai, China, and UPM Paper Europe in Augsburg, Germany. The Group Head Office will remain in Helsinki, Finland.

According to Jussi Pesonen, President and CEO of UPM, changes in management structure will sharpen the targets and required actions for each business.

– We will address the competitive challenge in mature European businesses and drive profitable growth outside Europe and in biorefining. The new management structure will also increase transparency of the company performance, Pesonen says.