15. Feb 2018

Peter Vanacker named President and CEO of Neste Corporation

Peter Vanacker named President and CEO of Neste Corporation

Neste Corporation's Board of Directors has named Peter Vanacker (born 1966, M.Sc. Chem. Eng.) as the next President and CEO of Neste. The appointment took effect on 1 November 2018.

xVanacker will join Neste on 1 September 2018 as a Senior Executive and start familiarizing himself with Neste's business and operations. Matti Lievonen, who has served as Neste Corporation's President and CEO since 2008, will act as the President and CEO of Neste until 31 October 2018 . He will retire at the end of the 2018, after reaching the age of retirement.

Peter Vanacker is currently CEO and Managing Director of fine and specialty chemicals company CABB Group GmbH. Prior to CABB, Vanacker has had a long career in various executive positions at Bayer, where he was responsible for the global polyurethanes business and many significant investment projects. He is looking forward to "continuing Neste's success story" by further pushing boundaries together with "all Neste's employees, the Board of Directors and my colleagues in the Executive Board", he said in a statement released by the company.

"This appointment is the outcome of Neste's CEO successor planning, as the company's current President and CEO Matti Lievonen will retire at the end of 2018. During the process, the Board of Directors has carefully evaluated, who is the right person to lead Neste's next steps for delivering profitable growth", said Jorma Eloranta, Chair of Neste's Board of Directors.

Eloranta went on to thank Matti Lievonen for his efforts on behalf of Neste throughout the 10 years of his leadership. During that time, the company went through significant strategic and cultural changes, transitioning from a national oil refining company to the world's largest sustainable producer of renewable diesel. "The company's very strong financial position and competitiveness give Peter an excellent starting point for continuing the development of Neste", Eloranta said.

http://www.neste.com

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