Fortum names oil sector head

By OGJ editors

HOUSTON, Jan. 27 -- Fortum Corp., Keilaniemi, Espoo, Finland, has named Risto Rinne as its oil sector president, effective Jan. 15.

In September 2003, Fortum announced the creation of a new company, comprising its three core oil businesses: refining, marketing, and shipping. Rinne will serve as president and CEO of this new venture.

With more than 20 years of experience in the oil industry, Rinne most recently served as president of Fortum's refining business unit.

Rinne succeeds Veli-Matti Ropponen, who will continue to advise group management regarding the initial public offering of the new oil company.

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