UPM and Sappi have conditionally nominated Gunnar Eberhardt as Chief Executive Officer and Stephen Blyth as Chief Financial Officer of their planned graphic paper joint venture.
Eberhardt has served as Executive Vice President of UPM Communication Papers since October 2024, while Blyth has been CFO of Sappi Europe SA since July 2014.
“We are pleased to nominate Gunnar and Stephen,” said UPM President and CEO Massimo Reynaudo and Sappi CEO Steve Binnie. “Their proven track record, extensive leadership experience and complementary backgrounds are a perfect fit for the planned Joint Venture, which is intended as a decisive response to the structural challenges of the European graphic paper industry and customers’ need for supply security.”
The appointments remain conditional on regulatory approvals and completion of the transaction. Until closing, UPM and Sappi will continue to operate their respective businesses independently, with Eberhardt and Blyth remaining in their current roles.
