Neste appoints Peter Vanacker as President and CEO

Neste Corporation's Board of Directors has appointed Peter Vanacker (born 1966, M.Sc. Chem. Eng.) President and CEO of Neste as of 1 November 2018.

He will join Neste on 1 September 2018 as a Senior Executive and start familiarizing himself with Neste's business and operations.

Matti Lievonen, who has served as Neste Corporation's President and CEO since 2008, will act as the President and CEO of Neste until 31 October 2018 and retire at the end of the 2018 after reaching his retirement age

Peter Vanacker is currently CEO and Managing Director of CABB Group GmbH. CABB is a leading globally active fine and specialty chemicals company.

Prior to CABB, Vanacker has had a long career in various executive positions at Bayer, where he was responsible for the global polyurethanes business and many significant investment projects. A CV and photo of Peter Vanacker are included in this release

"This appointment is the outcome of Neste's CEO successor planning, as the company's current President and CEO Matti Lievonen will retire at the end of 2018. During the process, the Board of Directors has carefully evaluated, who is the right person to lead Neste's next steps for delivering profitable growth", says Jorma Eloranta, Chair of Neste's Board of Directors

"The Board of Directors has assessed that Peter Vanacker's experience and expertise are well suited to the strategic goals of Neste. Going forward, Neste's target is to be a leading global renewables company with solutions for decarbonizing not only road transport, but also aviation and chemical markets

Furthermore, the company continuously renews its conventional, successful refining business and develops its Marketing & Services business. Vanacker's broad international experience from the chemicals and polymers industry, proven track record in several strategic transformations and large-scale investment projects, and multicultural leadership skills will be very welcome for Neste", continues Eloranta

"I am looking forward to continuing Neste's success story by further pushing boundaries together with all Neste's employees, the Board of Directors and my colleagues in the Executive Board. Neste is an amazing company characterized by an innovative spirit, high performance, global leadership and the enthusiasm of its employees," says Peter Vanacker.