Metso’s board of directors has appointed Pasi Laine as president and CEO of the new company to be demerged from Metso’s Automation and Mining & Construction divisions.
The board has signed a demerger plan to separate Metso’s Pulp, Paper and Power business into a separate listed company to be named Valmet Corp. The demerger will require the approval of Metso’s Extraordinary General Meeting. If approved, the planned registration date of the demerger will be December 31, 2013.
Laine is currently president of Metso’s Pulp, Paper and Power business, and he will continue in this position until assuming the duties of president and CEO of the new company. He has been a member of the Metso executive team since 2006.
Metso plans to hold an Extraordinary General Meeting on or about Oct. 1. Matti Kähkönen will continue as president and CEO of Metso Corp.
