Metso Corporation, stock exchange release, May 18, 2020 at 09:30 a.m. EEST
The future Metso Outotec Board of Directors has decided on the planned company structure and the related Executive Team appointments. The nominations become effective after the closing of the partial demerger of Metso and the combination of Metso’s Minerals business and Outotec, which is currently expected to take place on June 30, 2020, subject to the receipt of all required regulatory and other approvals, including competition clearances.
Combined, the future Metso Outotec will be a forerunner in sustainable technologies, end-to-end solutions and services for the minerals processing, aggregates, metals refining and recycling industries globally. The new organization is designed to leverage the strengths and expertise of both companies.
Metso Outotec will consist of the following six business areas:
The following appointments for the future Metso Outotec Executive Team have been made:
In addition to the business area Presidents, the following function heads and Executive Team members have been appointed:
All the above-mentioned persons will report to Metso Outotec’s future President and CEO Pekka Vauramo.
“I am happy to announce the future structure and Executive Team for Metso Outotec. I’m confident that led by this team we will create a strong culture and deliver the benefits of the combination to our customers, shareholders and employees,” says Pekka Vauramo, future President and CEO of Metso Outotec.
“Above all, Metso Outotec will be strong in sustainability. Our extensive combined offering for minerals processing from equipment to a broad range of services will help our customers improve their profitability and lower their operating costs and risks, while at the same time reduce the consumption of energy and water. We at Metso Outotec understand our customer’s world and the daily challenges they face. Together, we will partner for positive change,” he continues.
Metso Outotec’s planned reporting segments
The planned IFRS reporting segments of Metso Outotec will align with the customer segments and will be Aggregates, Minerals and Metals & Recycling. The new segment reporting is planned to start from July, when the operations will be combined, hence from the Q3/2020 interim report. In the Q2/2020 interim report of Metso Outotec, the reporting is still based on the segments of Metso’s Minerals business and Outotec. Metso Outotec plans to report in its Q2/2020 interim review the quarterly information for both Metso’s Minerals business and Outotec and the combined company balance sheet as at June 30, 2020.
The photo and CV of Piia Karhu are attached.
Communications and Stakeholder Relations, Metso, tel. +358 20 484 3212
Investor Relations, Metso, tel. +358 20 484 3253
Metso is a world-leading industrial company offering equipment and services for the sustainable processing and flow of natural resources in the mining, aggregates, recycling and process industries. With our unique knowledge and innovative solutions, we help our customers improve their operational efficiency, reduce risks and increase profitability. Metso is listed on the Nasdaq Helsinki in Finland and had sales of about EUR 3.6 billion in 2019. Metso employs over 15,000 people in more than 50 countries. metso.com, twitter.com/metsogroup