Change of CEO at Ekokem following the acquisition by Fortum

09/05/2016

Change of CEO at Ekokem following the acquisition by Fortum

On 31 August 2016 Fortum announced that it has completed the acquisition of Ekokem Corporation. From the end of August 2016 onwards, Ekokem will be integrated into Fortum Group as a business area of the City Solutions division.

Following the acquisition, in view of the forthcoming integration and in accordance with the CEO agreement, Karri Kaitue has decided to leave his position as the CEO of Ekokem at the end of September. It has been mutually agreed that Karri Kaitue will be available to support the integration of Ekokem into Fortum Group until the end of March 2017. The Board of Ekokem has appointed Jani Lösönen, currently acting as Senior Vice President, Commercial, as Ekokem’s new CEO from October 1, 2016 onwards.

Karri Kaitue comments: “It has been a true privilege to be with Ekokem for the past years first as a Board member and then as a CEO. Ekokem is a fantastic example of the fact that you can make good business in a sustainable way and while promoting the circular economy. We have developed fast and transformed the company in the recent years. Now, as a part of Fortum Group, Ekokem can continue on its growth path with increased resources. I feel proud of what we have achieved and want to thank the whole organization for the exceptional commitment and great work.”

Markus Rauramo, Executive Vice President, City Solutions at Fortum says: “Karri has done a good job in Ekokem. He has built a strong team of highly committed leaders with whom he has grown the company, developed its unique portfolio and built its reputation among thousands of customers worldwide. I personally appreciate the work Karri has done and I am grateful he is ready and willing to help us in the initial phases of the integration process.”

Further information

Hanna Masala, SVP, strategy and communications, Ekokem Corporation, tel. +358 10 7551 110

 

Background information:

Fortum briefly

Fortum's vision is to be the forerunner in clean energy. Fortum provides its customers with electricity, heat and cooling as well as other energy solutions. Fortum’s main markets are the Nordic and the Baltic countries, Russia, Poland and India. In 2015, Fortum employed some 8,000 people, and Fortum’s sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq Helsinki.

Ekokem briefly

Ekokem is one of the leading circular economy companies in the Nordics which offers environmental management and material efficiency services. Ekokem operates the leading Nordic hazardous waste treatment plants and provides its customers with specialized environmental management know-how on a broad front. The company’s objective is to create value by improving customers’ material and energy efficiency. Ekokem offers recycling, utilization, and final disposal solutions as well as soil remediation and environmental construction services. For more than 35 years, Ekokem has contributed to saving natural resources and promoting the circular economy.