24.05.05

24.5.2005: Meldung: Stora Enso Oyj: Hannu Ry?pp?nen new CFO

Stora Enso has appointed Hannu Ry?pp?nen as new CFO

Stora Enso Oyj Stock Exchange Release 24 May 2005 at 06:00 GMT

Stora Enso has appointed Hannu Ry?pp?nen B.A., B.B.A., as new Chief Financial Officer (CFO) and Senior Executive Vice President, Finance, Accounting, Legal Affairs and Investor Relations as from 1 September 2005. He will be based in the Group"s London International Office.

Mr Ry?pp?nen, born in 1952, has had an extensive international career in the financial field. He has been CFO of the Dutch company Ahold N.V. since 2003.

Previously Mr Ry?pp?nen worked for four years as CFO of Industri Kapital Group based in London and in asset management for Ikano based in Luxembourg. Before that for thirteen years (1985-98) he was Executive Vice President and Group Treasurer at IKEA based in Denmark. He has also held positions at Alfa-Laval (1981-85) in North America and Sweden, and he started his international career in 1977 at Chemical Bank in London and New York.

Changes in Stora Enso"s Corporate Governance

Stora Enso"s Board of Directors has revised the Company"s Corporate Governance to reflect the new organisational structure that came into effect on 1 May 2005 and the forthcoming retirement of Deputy CEO Bj?rn H?gglund on 1 June 2005.

As of 1 June 2005 the specific role of Deputy CEO will be discontinued. Thereafter, the Chief Financial Officer (CFO) will also act as a deputy to the CEO when required.

Esko M?kel?inen, the current CFO, will act as deputy to the CEO from 1 June to 31 August 2005. Mr Ry?pp?nen will become deputy to the CEO on 1 September 2005. Mr M?kel?inen will retire from Stora Enso at the end of 2005.

Other changes in the Corporate Governance are as follows:

The Board now has ten ordinary members (previously 11 members). There are nine non-executive members who are independent and not affiliated with Stora Enso and one executive member (CEO).

The Nomination Committee is appointed by the shareholders in accordance with the decision by the Annual General Meeting on 22 March 2005. Previously this committee was nominated by the Board of Directors. It consists of four members: the Chairman and the Vice Chairman of the Board and two members appointed annually by the two largest shareholders (one each) according to the share register of 1 October.

"Our revised Corporate Governance following the decision of our recent AGM and the new organisation, create an improved and more efficient management structure, whilst ensuring the highest standards of transparency and accountability in the way we operate," comments Jukka H?rm?l?, Stora Enso"s CEO.


For further information, please contact:
Jukka H?rm?l?, Chief Executive Officer, tel. +44 20 7016 3111
Esko M?kel?inen, CFO, tel. +44 20 7016 3115
Jyrki Kurkinen, Senior Vice President, Legal Affairs, tel. +358 2046 21217
Kari Vainio, Executive Vice President, Corporate Communications, tel. +44 7799 348 197
Keith Russell, Senior Vice President, Investor Relations, tel. +44 7775 788 659
Ulla Paajanen-Sainio, Vice President, Investor Relations and Financial Communications, tel. +358 40 763 8767



www.storaenso.com
www.storaenso.com/investors





C U R R I C U L U M V I T A E

Hannu Ry?pp?nen


BORN: 25 March 1952, Finland (Finnish national)

PERSONAL: Married, has four children

EDUCATION: BA in Business Administration (1976)
Svenska Handelsh?gskolan, Helsinki

LANGUAGES: Spoken and written Swedish, English & Finnish
Some German


WORK EXPERIENCE

2003 - Present Ahold, Amsterdam
CFO

1999 - 2003 Industri Kapital Group, London
CFO

1998 - 1999 Ikano Asset Management, Luxembourg
Deputy Managing Director

1985 - 1998 IKEA International A/S, Denmark
Executive Vice President (reporting to Group Chief Executive)

1984 - 1985 Alfa-Laval Contracting AB, Stockholm (Swedish subsidiary)
Manager, Finance & Administration

1981 - 1984 Alfa-Laval, Inc., New Jersey
Treasurer for US Operations

1977 - 1981 Chemical Bank, New York


Stora Enso is an integrated paper, packaging and forest products company producing publication and fine papers, packaging boards and wood products, areas in which the Group is a global market leader. Stora Enso sales totalled EUR 12.4 billion in 2004. The Group has some 45 000 employees in more than 40 countries in five continents and about 16.4 million tonnes of paper and board annual production capacity and 7.7 million m3 of sawn wood products, including 3.2 million m3 of value-added products. Stora Enso"s shares are listed in Helsinki, Stockholm and New York.
Stora Enso Oyj
Business ID 1039050-8


Kanavaranta 1 00160 Helsinki, Finland P.O. Box 309 FIN-00101 Helsinki, Finland Tel.: +358 2046 131 Fax: +358 2046 21471

www.storaenso.com

Stora Enso Oyj Business ID 1039050-8
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