FOR IMMEDIATE RELEASE

December 16, 2008
Contact: Ingrid Mattsson
Brand Management Senior Manager
(800) 321-4739, ext. 4249
Ingrid.mattsson@uponor-usa.com

[an error occurred while processing this directive] For the Media: Jyri Luomakoski

Jyri Luomakoski Appointed President and CEO of Uponor

On Dec. 16, Uponor Corporation’s Board of Directors appointed CFO and Deputy CEO Jyri Luomakoski, MBA, President and CEO of the Uponor Group and its parent company. Luomakoski has acted as CEO on an interim basis since Oct. 27, 2008, when the previous CEO Jan Lång left the company. Read more...

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Jyri Luomakoski has been with Uponor for more than 12 years, serving most recently as CFO and Deputy CEO.

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Jyri Luomakoski has served Uponor since 1996, most recently as CFO and Deputy CEO. For more than four years, he has also been responsible for the company's municipal business in North and South America as well as in the United Kingdom and Ireland.

Uponor’s Board initiated the search for a new CEO, assisted by an external consultant, in August, when the previous CEO announced his resignation. The extensive search covered both internal and external candidates.

“We weighed between several strong candidates with a diverse background and experiences, and reached a unanimous decision,” says Jari Paasikivi, Chairman of the Board. “Jyri Luomakoski’s international management experience spans over a period of 20 years. He has served Uponor during the past two CEOs, and has gained a versatile experience from the company’s business during its different phases.
                 
He states other factors that contributed to the decision include the fact that Luomakoski has a broad network of contacts in the different stakeholder groups of the company, and he has a firm support within the Board as well as amongst his colleagues, which allows him a good platform to bring the company forward during these challenging times.

As an additional bonus, Paasikivi noted the fact that Luomakoski is centrally involved in current development initiatives of the company, which naturally makes it possible to continue with the renewal of the company and its development initiatives.

Luomakoski will, for the time being, also continue as CFO. Changes in the Finance and Administration function management will be announced separately.

Uponor Corporation is a leading supplier of plumbing, fire safety and radiant heating and cooling systems for the residential and commercial building markets across North America and Europe, and a market leader in municipal infrastructure pipe systems in the Nordic countries. Uponor Corporation employs 4,200 people in 27 countries and is listed on the NASDAQ OMX Helsinki Ltd., Finland.

Uponor, Inc. is headquartered in Apple Valley, Minn. For more information, visit www.uponor-usa.com or call (800) 321-4739.

Uponor Ltd. is based in Mississauga, Ont. For more information, visit www.uponor.ca or call (888) 994-7726.

For more information about Uponor, visit the Uponor media room at uponor.oreilly-depalma.com

For editorial assistance, contact John O’Reilly c/o O’Reilly/DePalma at (815) 469-9100, extension 302; e-mail: john.oreilly@oreilly-depalma.com

© 2008 Uponor, Inc.

Uponor is a trademark of Uponor Corporation and Uponor, Inc.

 

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