UPM and Sappi select management nominees for planned graphic paper Joint Venture
UPM and Sappi have nominated candidates for CEO and CFO roles in a planned graphic paper joint venture. The appointments are conditional upon regulatory approvals.
Helsinki – Forest industry companies UPM and Sappi have conditionally selected nominees for the top management positions of a planned graphic paper joint venture. Gunnar Eberhardt has been nominated as Chief Executive Officer, and Stephen Blyth as Chief Financial Officer.
The nominations are contingent upon receiving all necessary regulatory approvals and the successful completion of the transaction. The formation of the joint venture still requires clearance from competition authorities and other regulatory bodies.
Eberhardt previously served as Executive Vice President of UPM's Communication Papers business. The planned joint venture would combine UPM's graphic paper operations with Sappi's European magazine paper business, aiming to establish a more competitive player in the European paper market.
The transaction is anticipated to be finalized in the first half of 2027. Further details regarding the joint venture's structure and governance will be determined once regulatory approvals are secured.