Proposed Board members announced for Stora Enso’s planned forest company demerger

Stora Enso Oyj announced the proposed members of the Board of Directors of the new forest asset company planned to be separated from Stora Enso (the “New Company”). The demerger is expected to be completed during the first half of 2027.

The proposed Board members are intended to form the inaugural Board of Directors of the New Company, subject to approval of the Demerger Plan by an Extraordinary General Meeting of Stora Enso Oyj to be held prior to the completion of the demerger.

Commenting on the nominations, Marcus Wallenberg, Chair of Stora Enso’s Shareholders’ Nomination Board, stated: “I am delighted with the nomination of our proposed Board members. They bring a diverse range of expertise in forestry, finance, investment management, energy, sustainability, and strategic marketing. Their collective experience will support the New Company’s commitment to strong governance and sustainable growth.”

Proposed Board members

Johan Trolle-Löwen, proposed Chair of the Board of Directors.
M.Sc. (Engineering and Industrial Economics), born 1959, Swedish citizen. A business executive with a strong focus on forestry and management. CEO of Sjösa Förvaltnings AB since 2000. Former CEO of Atlas Copco Tools AB. Chair of the Board of Kopparfors Skogar AB from 2018 until March 2026. Board member of Hargs Bruk AB since 2009. Former board member of Landshypotek Bank (2011–2025), Bergvik Skog AB (2015–2019) and Firefly AB (2002–2020).

Jannica Fagerholm, proposed Vice Chair of the Board of Directors.
M.Sc. (Economics), born 1961, Finnish citizen. An executive with an extensive background in finance. Managing Director of the Signe and Ane Gyllenberg Foundation since 2010. Former Managing Director of SEB Gyllenberg Private Bank (1999–2010), Country Director at Handelsbanken Liv Finland (1998–1999), and held various positions within Sampo Insurance Group’s investment management unit (1990–1999). Board member of Sanoma plc since 2025, Vice Chair of Mandatum plc since 2023, board member of Solidium since 2019 and Vice Chair since 2025, and board member of Kesko plc since 2016.

Helen Fasth Gillstedt.
M.Sc. (Economics), born 1962, Swedish citizen. An experienced business executive and board professional with expertise in energy, finance and sustainability. Board member of Handelsbanken Fonder since 2015, Munters since 2017, PowerCell Group since 2019 and Sortera AB since 2022. Member of Shareholders’ Nomination Boards of several Swedish listed companies, including Atlas Copco and Epiroc.

Magnus Fernström.
M.Sc. (Finance and Economics), born 1981, Swedish citizen. Possesses extensive experience in investment management, financial analysis and forestry. Investment Director at FAM since 2020 and Investment Manager at FAM from 2011 to 2020. Former Special Adviser at the Swedish Ministry of Enterprise (2008–2010). Board member of Bergvik Skog AB (2015–2019), Kopparfors Skogar AB (2018–March 2026) and Nefab Group AB since 2021.

Timo Mäkinen.
M.Sc. (Industrial Engineering and Management), born 1991, Finnish citizen. An expert in investment management and financial analysis. Investment Manager at Solidium Oy since 2020. Previously Associate at Boston Consulting Group (2018–2020) and Management Consultant at EY (2017–2018).

Catharina Stackelberg-Hammarén.
M.Sc. (Economics), born 1970, Finnish citizen. A business leader with extensive experience in strategic marketing, brand development and commercial execution. Senior Vice President at Knowit Insight Oy since 2023. Founder of Marketing Clinic Oy, serving as Executive Chairman (2019–2022) and CEO (2004–2019). Former Managing Director of Coca-Cola Finland (2003–2004) and Coca-Cola AB (2002–2003), with earlier leadership roles at Coca-Cola in Finland and across the Nordic and Baltic regions. Chair of the Board of Harvia since 2025, Vice Chair since 2024 and board member since 2023. Chair of the Board of Alma Media Corporation since 2022 and board member since 2009. Board member of Royal Unibrew A/S since 2019.

Nomination process

The proposed Board members will be included in the Demerger Plan as the inaugural Board of Directors of the New Company. Their appointment will be subject to approval by Stora Enso Oyj’s Extraordinary General Meeting, which will resolve on the Demerger Plan prior to the completion of the planned demerger.