Heikki Malinen appointed president and CEO of Neste

Heikki Malinen, Neste (Photo: Outokumpu Corporation)

Finnish renewable fuel producer Neste has announced that the company board of directors has appointed Heikki Malinen as new company president and CEO.

Malinen, who resigned his position on the company’s board earlier in the year, will take over the position in October.

He will replace Matti Lehmus, who will continue to act as an advisor to company management through mid-November to ensure a smooth transition.

“Heikki has a strong track record of successfully leading international businesses and creating stakeholder value even in challenging market conditions. During his career, he has built high-performing teams that have significantly improved business performance. I believe that he is the best possible CEO for Neste right now and I wish him success in his new, demanding role,” said Matti Kähkönen, chair of the Board, Neste.

Kähkönen continued: “On behalf of the entire board, I would also like to thank Matti Lehmus, who has led the company with great commitment. Matti has had a long career at Neste and over the years he has had a substantial contribution to the company’s development especially in renewable products. I wish Matti all the best in his future endeavours.”

Neste specialises in transforming otherwise waste products into renewable fuel and other raw materials. The company is currently the world’s largest producer of sustainable aviation fuel (SAF) and renewable diesel.

The company, which operates a series of fuel refineries around the world, has targeted reducing the carbon emission intensity of sold products by 50% by 2040.