uncategorized · 2/19/2019

Neste to change its organization and composition of the Executive Committee

Neste Corporation Stock Exchange Release 19 February 2019 at 9 a.m. (EET)

Neste Corporation has decided to renew its organizational structure to drive the successful execution of its global growth strategy in renewable products. Neste’s growing Renewable Products business area will be divided into three business units and one operational platform each of which has its own Executive Vice President responsible in Neste’s Executive Committee: Renewable Road Transportation, Renewable Aviation, Renewable Polymers & Chemicals, and the Renewables Platform.

"Neste has become a global leader in renewable products produced from waste and residues. We see further growth opportunities and demand for renewable and circular solutions not only in road transport but also in aviation, and the polymers and chemicals value chain”, says Neste’s President and CEO Peter Vanacker.

“By redesigning our organization and executive-level positions, we want to ensure that we are able to deliver sustainable, renewable solutions to our customers even more efficiently. I am confident that this change will enable a faster and bolder execution of our global growth strategy and thus, help Neste to achieve both profitable growth and sustainability aspirations”, continues Vanacker.  

New executive appointments and changes in Neste’s Executive Committee

Various changes have been made to the responsibilities of the members of Neste’s Executive Committee (previously Neste Executive Board) and two new members have already been appointed. All these changes will come into effect as of 1st May, 2019.

Carl Nyberg has been appointed Executive Vice President, Renewable Road Transportation. He is currently Vice President of Sales Scandinavia in Neste’s Renewable Products business area.

Matti Lehmus has been appointed Executive Vice President of the Renewables Platform, covering the management and development of the renewables’ production and supply chain. He is currently Executive Vice President of Neste’s Oil Products business area and a member of the Executive Committee.

Marko Pekkola has been appointed Executive Vice President, Oil Products business unit. He is currently Vice President of Production in Neste’s Oil Products business area.

CVs and photos of the appointed new persons are attached to this release. Appointments of the Executive Vice President, Renewable Aviation and Executive Vice President, Renewable Polymers and Chemicals, will be made later.

Kaisa Hietala, current Executive Vice President of Neste’s Renewable Products business area, has announced that she will continue her career outside Neste. Neste’s Vice President of Sales Scandinavia, Carl Nyberg will take over Kaisa Hietala’s Executive Vice President position as of 19 February 2019 until the new structure will be in place on May 1st, 2019.

“On behalf of Neste’s Board and Executive Committee, I would like to express my warmest thanks to Kaisa Hietala for her extensive career at Neste. She has been an important and valuable member of Neste’s change journey from an oil refining company to a global leader in renewable products and the world’s third most sustainable company”, says Peter Vanacker.

The responsibilities of other members of the Executive Committee have also been adjusted as follows.

The composition of Neste Executive Committee as of 1st May, 2019:

All of the members of the Neste Executive Committee report to President and CEO Peter Vanacker. The changes in the organizational structure will not affect Neste's reporting segments, which remain: Renewable Products, Oil Products, Marketing & Services, and Others.

Neste Corporation

More information: Peter Vanacker, President and CEO, Neste, tel. +358 50 458 0902 (Krista Lundell, Executive Assistant to President and CEO)

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2018, Neste's revenue stood at EUR 14.9 billion. In 2019, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: