ISSN 2330-717X

Fortum Appoints Markus Rauramo As President And CEO

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Fortum’s Board of Directors of has appointed Markus Rauramo as the new President and Chief Executive Officer of Fortum Corporation as of July 1, 2020.

Markus Rauramo is currently Chief Financial Officer (CFO) of Fortum and has been with the company for eight years. He has driven forward Fortum’s acquisition of Uniper alongside Fortum’s exiting CEO Pekka Lundmark and has vice chaired the Supervisory Board of Uniper for the past two years.

During his time at Fortum, Rauramo also served as Executive Vice President of the City Solutions Division, which he successfully expanded from district heating to recycling and waste business. In 2013, as CFO, Rauramo took on the additional responsibility of acting CEO. Prior to joining Fortum, he worked for Stora Enso, one of the world’s largest forest industry companies, in several international positions and played a key role in restructuring and transforming its businesses.

“I am very pleased to announce the appointment of Markus Rauramo as CEO of the consolidated Fortum–Uniper Group,” says Matti Lievonen, Chairman of the Board of Directors of Fortum. “As a seasoned leader with a convincing track-record of managing complex situations and working across cultures, he will develop and execute a joint strategy for Fortum and Uniper on their journey towards becoming a European energy transition champion.”

“The Board ran a full international search process for the new CEO. We had several excellent candidates, but Markus Rauramo was clearly the best match in terms of experience, competencies and character. I am convinced that his engaging, yet results-driven and firm leadership style will deliver the needed step change while continuing to bring in solid financial returns,” Matti Lievonen concludes.

“I am excited and honoured to take on the responsibility to steer forward this great company at its pivotal turning point,” says Markus Rauramo. “We have excellent people and good assets at both Fortum and Uniper, to continue and to accelerate the ongoing transformation. Going forward we will have a more focused business portfolio and we will invest very selectively in strategic growth. At the same time we will ensure that the Group’s financial strength is secured.”

“The energy transition has to be based on the three cornerstones of Sustainability, Affordability and Security of Supply. Our position as the third largest producer of CO2-free electricity in Europe provides a solid ground to build on. We will continue to reduce our coal-based production and pursue decarbonisation through growth in clean energy. At the same time, we will continue to provide security of supply through gas, which we will make clean over time. We will also continue to develop solutions for a circular economy,” Rauramo concludes.

Markus Rauramo succeeds Pekka Lundmark.

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