Fazer Group: announces new Executive Vice President

Helsinki / FI. (tbc) Finnish Fazer Group´s Executive Vice President Harri-Pekka Kaukonen, who is in charge of the business area Bakeries + Confectionery, has decided to move on to new challenges after seven years at Fazer. Kaukonen has been nominated President and CEO of Sanoma Group as of 01 January 2011. His last working day at Fazer will be 30 November 2010.

Harri-Pekka Kaukonen joined Fazer in 2003 as CFO with the task to renew the Group´s finance and strategy processes. In 2007 he was appointed Managing Director for Fazer´s operations in Russia and Group´s Executive Vice President. He has been in charge of the business area Fazer Bakeries + Confectionery since January 2010.

«Through his key positions and excellent strategic skills Kaukonen has had a central role in the successful development of Fazer Group. It has been rewarding to work with him», states Group President Karsten Slotte.

Fazer nominates new Executive Vice President and CFO

M.Sc. (Econ) Jouni Grönroos (45) has been nominated Fazer Group´s Executive Vice President and CFO. He has also been appointed member of the Group Management Team. Grönroos starts in his new post as of 01 November 2010 and will report to Karsten Slotte, President of Fazer Group. Grönroos´ current position is CFO at Rapala VMC Corporation. He is also in charge of e.g. strategic planning and has a central role in mergers and acquisitions.

Krister Friberg, who currently holds the position as Fazer Group´s CFO, will continue as Senior Vice President, Finance and reports to Grönroos. He will also continue as a member of the Group Management Team and as a member of the board in the Russian subsidiary.