oil-products, investors · 7/27/2021

Neste appoints Markku Korvenranta Executive Vice President, Oil Products and member of the Executive Committee

Neste Corporation, Stock Exchange Release, 27 July 2021 at 8.50 a.m. (EET) 

Markku Korvenranta, M.Sc. (Eng), has been appointed as Executive Vice President, Oil Products business unit and member of the Neste Executive Committee. He will join Neste in January 2022, at the latest, and will report to President and CEO Peter Vanacker. Korvenranta will transfer to Neste from Marquard & Bahls, Germany, and will be based in Finland.

“I am pleased to welcome Markku to lead our Oil Products business unit and strengthen our Executive Committee with his extensive leadership experience. He has a solid track record from successful transformational strategy execution in an international business environment,” says Peter Vanacker, Neste’s President and CEO.

“I am thrilled to join Neste, and excited to lead the Oil Products to reach its full potential aligned with the company strategy of becoming a global leader in renewable and circular solutions,” says Markku Korvenranta. 

“I want to express my warm thanks to Marko Pekkola who has been leading our Oil Products business unit through turbulent times of the global pandemic and carrying out a major turnaround of Porvoo refinery in very challenging circumstances. I wish him all the best in his future career,” continues Vanacker.
Marko Pekkola has decided to continue his career outside Neste. Sami Oja, Vice President, Supply Chain Management and Business Development of Oil Products, will take up the role as an interim leader of the Oil Products business unit as of today.  

CV and photo of Markku Korvenranta are attached to this release.

Neste Corporation

Susanna Sieppi
Vice President, Communications

Further information: Neste’s media service, tel. +358 50 458 5076 / (weekdays from 8.30 a.m. to 4.00 p.m. EET).


Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products. Read more: