Outokumpu Appoints Marc-Simon Schaar as Chief Financial Officer
Steel company Outokumpu Oyj has appointed Marc-Simon Schaar as its new Chief Financial Officer (CFO), effective June 1, 2024. Schaar has held various senior finance and business roles within the company since 2011.
Outokumpu Oyj, a producer of stainless steel, has appointed Marc-Simon Schaar as its new Chief Financial Officer (CFO), effective June 1, 2024. Schaar holds a Master of Science in International Business and is a Chartered Accountant. He has been with Outokumpu since 2011, progressing through various senior roles.
Prior to this appointment, Schaar served in leadership positions across business controlling, treasury, M&A, and procurement. Most recently, he held the role of Chief Procurement Officer and was a member of the leadership team starting in 2023. In this capacity, he was responsible for managing the company's raw material procurement, which represents its largest cost component.
Heikki Malinen, President & CEO of Outokumpu, stated that Schaar possesses a profound understanding of both the stainless steel business and the company's operations. Malinen highlighted Schaar's proven track record in strategic guidance and driving financial performance aligned with corporate objectives.
In his new role, Schaar will focus on the continued systematic development of the company's financial performance. He emphasized Outokumpu's strong balance sheet and committed to leveraging this strength to foster sustainable growth and create long-term value for shareholders, employees, and stakeholders. Schaar is a German citizen and will report to President & CEO Heikki Malinen.