people, investors · 2/9/2018

Peter Vanacker appointed President and CEO of Neste Corporation

Neste Corporation
Stock Exchange Release
9 February 2018 at 8 am (EET)

Peter Vanacker appointed President and CEO of Neste Corporation

Neste Corporation's Board of Directors has appointed Peter Vanacker (born 1966, M.Sc. Chem. Eng.) President and CEO of Neste as of 1 November 2018. He will join Neste on 1 September 2018 as a Senior Executive and start familiarizing himself with Neste's business and operations. Matti Lievonen, who has served as Neste Corporation's President and CEO since 2008, will act as the President and CEO of Neste until 31 October 2018 and retire at the end of the 2018 after reaching his retirement age.

Peter Vanacker is currently CEO and Managing Director of CABB Group GmbH. CABB is a leading globally active fine and specialty chemicals company. Prior to CABB, Vanacker has had a long career in various executive positions at Bayer, where he was responsible for the global polyurethanes business and many significant investment projects. A CV and photo of Peter Vanacker are included in this release.

"This appointment is the outcome of Neste's CEO successor planning, as the company's current President and CEO Matti Lievonen will retire at the end of 2018. During the process, the Board of Directors has carefully evaluated, who is the right person to lead Neste's next steps for delivering profitable growth", says Jorma Eloranta, Chair of Neste's Board of Directors.

"The Board of Directors has assessed that Peter Vanacker's experience and expertise are well suited to the strategic goals of Neste. Going forward, Neste's target is to be a leading global renewables company with solutions for decarbonizing not only road transport, but also aviation and chemical markets. Furthermore, the company continuously renews its conventional, successful refining business and develops its Marketing & Services business. Vanacker's broad international experience from the chemicals and polymers industry, proven track record in several strategic transformations and large-scale investment projects, and multicultural leadership skills will be very welcome for Neste", continues Eloranta.

"I am looking forward to continuing Neste's success story by further pushing boundaries together with all Neste's employees, the Board of Directors and my colleagues in the Executive Board. Neste is an amazing company characterized by an innovative spirit, high performance, global leadership and the enthusiasm of its employees," says Peter Vanacker.

"On behalf of Neste's Board of Directors, I want to thank Matti Lievonen for his excellent work to increase Neste's international appreciation, which is also reflected in the company's market value that has multiplied. During his 10 years of leadership, the company has gone through significant strategic and cultural changes from a national oil refining company to the world's largest sustainable producer of renewable diesel. The company's very strong financial position and competitiveness give Peter an excellent starting point for continuing the development of Neste", says Jorma Eloranta.

"It has been a privilege to develop this company together with skilled and committed personnel for ten years. I have enjoyed every moment and I will continue with full energy and excitement until the final day of my duties at Neste. I am glad that I will be able to pass a successful and strong Neste onto my successor", says Matti Lievonen, Neste's President and CEO.

Invitation to briefings for media and analysts

Neste will arrange briefings in Finnish and English for media and analysts about the appointment of the new President and CEO today, Friday, February 9, 2018 at Hotel Kämp at Pohjoisesplanadi 29, Helsinki, Finland (Meeting room, Paavo Nurmi 1-3). Both events can also be followed online via webcast.

The event is hosted by Neste's Chair of the Board Jorma Eloranta with Vice Chair of the Board Matti Kähkönen, Peter Vanacker, and President and CEO Matti Lievonen being present.

Neste Corporation
Board of Directors

Further information: Jorma Eloranta, Neste's Chair of the Board of Directors (please contact Marika Lipponen, Executive Assistant, tel. +358 50 458 4151)

Peter Vanacker's CV
Photos of Peter Vanacker

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 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: