Stora Enso Has Appointed Jouko Karvinen as its New CEO

Stora Enso Has Appointed Jouko Karvinen as its New CEO

October 19, 2006

Stora Enso Oyj Stock Exchange Release 17 October 2006 at 10.00 GMT

 
    SHANGHAI, China, Oct. 19 /Xinhua-PRNewswire/ -- Stora
Enso's Board of Directors has appointed Jouko Karvinen,
M.Sc. (Eng.), as the new CEO of Stora Enso.  He will join
the company on 1 January 2007 and will take up the position
of CEO following the Annual General Meeting (AGM) on 29
March 2007. Mr Karvinen is currently Chief Executive
Officer of Philips Medical Systems Division and a member of
the Board of Management of Royal Philips Electronics. 

    "The Board of Directors is delighted that Jouko
Karvinen will be joining Stora Enso as Chief Executive
Officer.  He will bring global experience, a strong
commitment to innovation and a track record of improving
profitability in the businesses he has managed,"
comments Claes Dahlback, Chairman of the Stora Enso Board
of Directors.

    "Jouko has shown he has the capability to lead an
organisation to deliver results through acquisitions,
operational improvements, innovation and building customer
loyalty."

    Mr Karvinen, born in 1957, holds a Master of Science
degree in Electronics and Industrial Economics from Tampere
University of Technology in Finland.  He has had a 25-year
career in industrial automation and, more recently,
healthcare technologies in business-to-business markets. 

    He joined Royal Philips in 2002 to head its Medical
Systems Division following four US acquisitions. The
division had revenues of EUR 6.3 billion in 2005.  Before
joining Philips, he was responsible for the Automation
Division of ABB Group Ltd.  He served ABB Group in several
international positions and was a member of the ABB Group
Executive Committee from 2000 to 2002.

    "I am thrilled to be joining the forest products
industry and one of its leading players, Stora Enso.  It is
an honour to succeed Jukka Harmala as CEO. I -- together
with the Stora Enso team -- relish the challenge of
continuing to develop Stora Enso and further improve its
performance," says Jouko Karvinen.

    Jukka Harmala will leave the position of CEO following
the AGM on 29 March 2007.  He will continue to undertake
special assignments specified by the Board of Directors of
Stora Enso until the end of August 2007.

    "I offer my best wishes to Jouko in his new role
as CEO of Stora Enso. I am happy to be leaving the company
in good hands.  I am sure the drive for improvement will be
maintained under the leadership of the new CEO,"
comments Jukka Harmala.
 
    PRESS CONFERENCE IN HELSINKI

    You can follow a press conference starting at 13.00
Finnish time (immediately after publication of this
announcement) live on our website at
http://www.storaenso.com/investors . 


APPENDIX -- CV of Mr Karvinen
 
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    http://www.storaenso.com/investors 

 
Jouko Karvinen -- Curriculum Vitae
 
    Personal Data:
 
     Date & Place of Birth:   31 August 1957 in
Helsinki, Finland
     Marital Status:          Married, two children
 
    Summary of Recent Employment:
 
     April 2006 to date:
      Chief Executive Officer -- Philips Medical Systems
Division 
      Executive Vice President & member of Board of
Management, Royal Philips 
       Electronics, based in Amsterdam, Netherlands
 
     June 2002-March 2006
      Chief Executive Officer -- Philips Medical Systems
Division, 
      Senior Vice President & member of Group
Management Committee, Royal 
       Philips Electronics, based in Boston, Massachusetts,
USA
 
    November 2000-May 2002
     Executive Vice President -- ABB Group Ltd
     Head of Automation Technology Products Division
     Member of Group Executive Committee, based in Zurich,
Switzerland
 
    September 1998-October 2000
     Senior Vice President -- Business Area Automation
Power Products, based 
      in Zurich, Switzerland
 
    1993-September 1998
     Vice President -- Business Unit Drives Products &
Systems, based in 
      Zurich, Switzerland
 
    1990-1993
     Vice President -- Power Electronics Division of ABB
Drives OY Global 
     AC Drives Feeder Factory and R&D Centre, based in
Helsinki, Finland
 
    1988-1990 
     Profit Centre Manager -- LV AC Drives, based in
Helsinki, Finland
 
    1987-1988
     Manager Adv. Development Allen-Bradley Stromberg Inc.
     A business development role reporting to Joint Venture
President, based 
      in Milwaukee, Wisconsin, USA
 
    1982-1987
     Various positions in Stromberg OY's Traction Business
in Project      
      Management, Sales, Marketing & Commissioning,
based in Helsinki, Finland
 
    Education:
 
    1976-1982
     Master of Science in Power Electronics, Applied
Electronics & Industrial 
      Economics at Tampere University of Technology in
Finland


    For further information, please contact:  

     Claes Dahlback, 
     Chairman of the Board
     Tel:   [phone]

     Jukka Harmala, 
     Chief Executive Officer
     Tel:   [phone]

     Kari Vainio, 
     Executive Vice President, 
     Corporate Communications
     Tel:   [phone]

SOURCE  Stora Enso