Outokumpu appoints Mika Seitovirta new CEO

Press Release.  Source: Outokumpu Oyj

Outokumpu's Board of Directors has appointed Mr Mika Seitovirta as the new Chief Executive Officer of Outokumpu. He will start at Outokumpu in March and assume the CEO position on April 1, 2011. The Board has agreed with the current CEO Mr Juha Rantanen that he will leave the CEO position on March 31, 2011. Mr Rantanen will support the new CEO in his taking on the new duties until August 2011.

Mika Seitovirta, born 1962, has held several executive positions both in industrial and consumer sectors. Most recently, he was the President and CEO of Glaston, a global glass technology company listed in Helsinki. Earlier, he has been the Managing Director of the beverage company, Hartwall, which was part of the Scottish & Newcastle Group, and has held several positions in the Volvo Group in Finland and abroad, e.g. Managing Director of Volvo Auto in Finland. Mr Seitovirta holds a Master of Science degree in Economics.

"Mika is an inspiring and engaging leader with the ability to attract talent internationally. His leadership style and result-orientation meet well with Outokumpu's current challenges. His background in the international engineering and automotive industry is valuable in building long-term customer relationships", says Ole Johansson, Chairman of Outokumpu's Board of Directors.  

"I think Outokumpu is a great company - it is one of the global leaders in stainless steel and widely recognisedfor its high-quality products. I really look forward to working together with Outokumpu's employees and customers to further improve the performance and successfully develop the business", says Mika Seitovirta. 

OUTOKUMPU OYJ

Outokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 8 000 people in more than 30 countries. The Group's head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki.

www.outokumpu.com