Pauli Torkko, Executive Vice President, to head the new Wholesale & Distribution division. Jari Karlson appointed CFO of the Orion Group as of 1 September 2002

Stock Exchange Release

1 July 2002 at 1.00 p.m.

 

Following the acquisition of the majority ownership in the Swedish Kronans Droghandel AB, a business division named Wholesale & Distribution has been formed within the Orion Group, to be headed by Mr. Pauli Torkko, Executive Vice President, effective as of 1 September 2002. His tasks in this position will comprise the coordination of the operations of the two companies contained by the division, Oriola Oy and Kronans Droghandel AB, to look after the utilisation of their synergy benefits and to steer their operations from the owner's perspective. Mr. Torkko will report to Mr. Jukka Viinanen, CEO of the Orion Group.

Pauli Torkko started his career in the Orion Group 25 years ago as Senior Manager for economic planning. In 1980 he was appointed CFO of the Orion Group. Since 1984 he has been Executive Vice President of Orion Corporation.

 

A Mergers and Acquisitions Unit will be formed to handle the structural development projects of the Orion Group. Mr. Heikki Salo, who has been in charge of internal auditing of the Orion Group since 1984, will head the unit as Senior Manager, M&A, as of 1 September 2002.
Mr. Salo will report to Mr. Torkko.

 

Mr. Jari Karlson will start as Chief Financial Officer (CFO, Finance and Administration) of the Orion Group on 1 September 2002. He joined Orion in August 2001 as Vice President, Finance of the Orion Pharma business division. He will continue in this position, too. Mr. Karlson will report to Mr. Viinanen.