Spinnova announced this morning (14 June), Poulsen would take up the position of CEO on 1 August in a move that will see current chief Poranen transition to chair of the board. Current chair, Harri Sundvik has been named deputy chair.

Poulsen’s most recent executive leadership position was president of the pulp and paper segment and member of the group executive management team at Kemira Plc. He has a strong forest and materials industry background combined with years of international leadership experience with Kemira in the US and in China. Pror to serving Kemira, Kim was a member of the executive board of UPM Plc and based in China and in a senior leadership position at UPM Wood.

In his role as executive chair, Poranen will focus on long-term value creation and continue to actively engage in key strategic initiatives and support relationships with the company’s strategic partners. While as deputy, Sundvik will focus on supporting long-term strategy formulation and engagement with the capital markets.

“Janne Poranen advised us earlier in the spring that it is time for him to move from the operating CEO role to a new role, where he can focus on long-term strategy to take Spinnova to the next level,” explains Sundvik. “In his new role as chair of Spinnova board of directors, Janne’s unique technology and leadership competence, combined with his passion and vision as one of the founders, will drive us to achieve our aspiration of global sustainability leadership.

“The board believes that Poulsen is the best leader to assume the vitally important CEO role at this critical phase in Spinnova’s development. Spinnova is executing a very demanding investment programme over the next few years, and strengthening our commercial and strategic partnerships around the globe. We have every confidence that Kim will lead these efforts with success, and his skills and experience will inspire us all when we take Spinnova to the next level.”

Poulsen adds: “I believe that my strong global experience of the forest and materials industry will strengthen the Spinnova strategy execution through the next critical phases.”

Spinnova recently partnered with H&M Group’s Arket brand to launch an overshirt in the sustainable Spinnova fibre blend ahead of the company’s first commercial-scale factory opening, which is scheduled for later this year.