Investors can be satisfied by Björn Wahlroos to the presidency of the financial group in Sammo and a forest company at UPMat least if success is measured by stock returns.
Wahlroos started as chairman of UPM’s board at the end of March 2008, when the company’s share cost 11.66 euros.
At that time, the forest industry was considered a sunset industry, and many wondered why Wahlroos accepted the chairmanship at UPM.
In 2008, the company made a modest operating profit of 24 million euros with a turnover of 9.5 billion euros. Excluding non-recurring items, the operating profit was 513 million euros. The company’s result was 201 million euros, just below freezing.
Last year, the forestry company’s turnover was 11.7 billion euros and the comparable operating profit was 2.1 billion euros. Both the company’s turnover and profit were record highs in 2022.
Wahlroos left the position of UPM’s chairman at the general meeting held on April 12. That day’s closing price for UPM’s share was EUR 31.03. If the dividends paid by UPM are included, the total return to investors during Wahlroos’ chairmanship was 276 percent.
Looking for a new CEO
An elevator company became the chairman of UPM’s board of directors at the spring general meeting The machine managing director Henrik Ehrnrooth. Metsähtiö is currently looking for a new CEO. Has managed the company since 2004 Jussi Pesonen will retire during 2024.
If the total profit generated during Walhroos’ presidency at UPM can be considered tough, it is even tougher at Sammo.
Wahlroos started as chairman of the company’s board in April 2009. On the start day, the company’s share cost 12.02 euros. Now Sampo’s share price hovers around 45.6 euros. Including dividends, the total return for investors during Wahlroos’ presidency has therefore been a good 503 percent.
On Wednesday (May 17), Sampo’s general meeting elected a state investment company as its new chairman Solidiumin former CEO Antti Mäkinen.
Source: Arvopaperi by www.arvopaperi.fi.
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