UPM's Chief Financial Officer and Executive Vice President of UPM Energy, Tapio Korpeinen, has announced his intention to retire at the end of 2026 upon reaching contractual retirement age. He will continue as Senior Advisor until mid-2027. The company has initiated separate succession searches for both positions, according to UPM.
Image: Tapio Korpeinen / UPM
Korpeinen leaves after 22 years with the company, having played an integral role in UPM's transformation and shareholder value creation. His retirement marks the end of a tenure that spanned more than two decades.
Separately, Risto Penttinen has been appointed Executive Vice President, Transformation, effective April 13, 2026. He will join the Group Executive Team and report directly to Reynaudo. Penttinen brings experience from senior management roles at Fortum and Uniper between 2011 and 2024, as well as 14 years as a partner at McKinsey & Company. The new dedicated position aims to prepare UPM for the next phase of its corporate transformation.
UPM is a material solutions company, renewing products and entire value chains with an extensive portfolio of renewable fibres, advanced materials, decarbonization solutions, and communication papers.
