Markku Teräsvasara appointed as Outotec's CEO

Outotec's Board of Directors has appointed Mr. Markku Teräsvasara (51) as Outotec's new Chief Executive Officer. He will commence in his new position on November 1, 2016 at the latest.

Markku Teräsvasara is currently President of Atlas Copco's Mining and Rock Excavation Service Division. He has been employed by Atlas Copco since 1997.

"Markku Teräsvasara has long experience in the equipment and service businesses within the mining industry. Before his current position, he was leading Atlas Copco's Surface Drilling Equipment Division based in China. He has managed his businesses extremely successfully in the cyclical industry. I am confident that he has excellent prerequisites to be successful in his new position. The Board was also impressed by his career which has shown an upward trend in the industry's leading global company Atlas Copco", states Outotec's Chairman of the Board Mr. Matti Alahuhta.

"Outotec is a globally recognized company in minerals and metals processing with a lot of leading technologies and industry experts. I am extremely happy to be able to become part of this team", says Markku Teräsvasara.

Outotec's Board of Directors and Pertti Korhonen have agreed that Pertti Korhonen will leave the duties of the Chief Executive Officer with immediate effect.

"Under Pertti Korhonen's leadership, Outotec has been developed globally to a more unified company. The service business and sustainable operating principles have been actively developed as well. On behalf of the whole Board, I thank Pertti for his contribution", says Matti Alahuhta.

CFO Jari Ålgars will be the acting CEO until the new CEO will commence his duties.

source: Outotec