SOURCE: Neste Oil Oyj

February 12, 2009 01:22 ET

Changes in the Neste Executive Team

ESPOO, FINLAND--(Marketwire - February 12, 2009) -


The composition of the Neste Executive Team is to change until the company's operations will be reorganized at the beginning of April 2009.

Senior Vice President, Safety Ilkka Poranen will take over as Acting Executive Vice President, Oil Refining; Vice President, Base Oils Matti Lehmus will take over as Acting Executive Vice President, Specialty Products; and Vice President, Operations Ari Dufvelin will take over as Acting Executive Vice President, Shipping.

Executive Vice President Jorma Haavisto, who has headed the Oil Refining Division, will take up other duties within the company. Executive Vice Presidents Kimmo Rahkamo and Risto Näsi, who have headed the Specialty Products and Shipping Divisions respectively, will leave the company.

All the above changes will come into effect immediately. Neste Oil announced on 5 February 2009 that it will introduce a new organization on 1 April this year, and the changes covered in this release are linked to the preparations for this reorganization.

NESTE OIL CORPORATION

Matti Lievonen
President & CEO

Further information: President & CEO Matti Lievonen, tel. +358 (0)10 458 11

Neste Oil in brief

Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's strategy is based on growing both its oil refining and premium-quality renewable diesel businesses. Neste Oil's refineries are located in Porvoo and Naantali and have a combined crude oil refining capacity of approx. 260,000 barrels a day. The company had net sales of EUR 15 billion in 2008 and employs around 5,200 people. Neste Oil is listed on NASDAQ OMX Helsinki. www.nesteoil.com.


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