HELSINKI (News release) -- Kari Saarinen has decided to resign from his position as Valmet's CFO due to his share trades in Neles during the merger process and to minimize the negative impacts of this on Valmet's reputation. All Executive Team members should have used good judgement and refrained from trading in shares while merger discussions and preparations were ongoing. The employment relationship will end in accordance with Kari Saarinen's executive agreement, while his working obligation ends at the end of April.

"I respect Kari's decision in this situation. Kari has had a long and successful career at Valmet and he is a highly regarded and well respected colleague. We all will miss Kari and his sense of humor, his dedication and his energy. I thank Kari for his significant contribution to making Valmet a successful company in all these years," says Pasi Laine, President and CEO.

"I thank all my colleagues for these great years at Valmet. In this situation, I feel it is best for the company to leave my position. I have felt privileged to be involved in building a successful and continuously developing Valmet with strong financial performance, and the value of this experience will remain," says Kari Saarinen.

The recruitment process for Kari Saarinen's successor will commence shortly. An interim solution will be announced as soon as possible.