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STOCK EXCHANGE RELEASE – INSIDE INFORMATION
20 APRIL 2022 at 8:30 a.m. EEST
Liisa Hurme appointed President and CEO of Orion Corporation as of 1 November 2022
Orion Corporation’s Board of Directors has appointed Liisa Hurme (born 1967) as President and CEO of Orion Corporation and the Chair of the Executive Management Board of the Orion Group as of 1 November 2022, until which her predecessor Timo Lappalainen will hold the position.
Liisa Hurme holds a Ph.D. in Biochemistry. Hurme has had a long career at Orion since 1999 in numerous management positions and she has been a member of the Executive Management Board since 2008. She currently serves as Senior Vice President of Global Operations and as Chairman of the Board of Fermion Oy, a subsidiary of Orion. Hurme led the Proprietary Products business in 2008-2014 and Specialty Products in 2014-2018.
Orion Corporation announced the succession plan of Orion’s CEO on 17 September 2021 as Timo Lappalainen announced his intention to retire at the age of 60. Lappalainen turns 60 in October 2022.
“We began an international recruitment process for a new CEO immediately after Lappalainen’s announcement last autumn and have carefully evaluated both external and internal candidates for the position. Liisa Hurme is an excellent choice for the President and CEO of Orion. She combines strong expertise in Orion's businesses with the capability to advance Orion's strategic development and possesses a solution-oriented and humane leadership style. In addition, thanks to her previous international appointments in the pharmaceutical industry and life sciences as well as her educational background in the natural sciences, Liisa has a deep understanding of the research and development environment that is important to the pharmaceutical industry,” says Orion’s Chairman of the Board of Directors Mikael Silvennoinen.
“I would also like to thank Timo Lappalainen for his long and successful tenure as the President and CEO of Orion. During this period, the company has established itself as an international, high-tech pharmaceutical company. At the same time, Orion has succeeded in maintaining a strong market leadership position in Finland. I appreciate his performance-oriented and innovation-driven attitude which has also brought success to Orion shareholders,” says Silvennoinen.
Liisa Hurme is highly motivated by the task ahead. “I am excited about the possibility to steer Orion to further growth and thank the Board of Directors for their trust in me. I believe that in my new position I will be able to utilize my expertise, global networks, and the broad experience I have gained in various positions at Orion. I will do my best, together with the dedicated and skilled Orion personnel, to keep us on the path on which Orion has been successful for over 100 years,” states Hurme.
President and CEO of Orion Corporation Timo Lappalainen will leave his position as a member and chairman of the Executive Management Board of the Orion Group when the new President and CEO takes office, i.e., on 1 November 2022. Lappalainen will remain at the disposal of the Board of Directors as an advisor until the end of March 2023, after which he will retire.
“My time at Orion has been especially great thanks to the wonderful Orion staff I have had the opportunity to work with. It has also been rewarding to witness innovations in our research and development, the latest of which – darolutamide – increases the quality of life of many prostate cancer patients. Our mission to build well-being has motivated me in many positions throughout my Orion years. I am convinced that due to Liisa Hurme’s broad expertise and experience, she has an excellent opportunity to succeed in the growth strategy work that we have developed together as colleagues. I wish Liisa all the best in her future role,” says Timo Lappalainen.
Invitation to the press conference
Orion will arrange a Finnish-language press conference on the appointment of a new President and CEO for media representatives today on Wednesday, 20 April from 11:45 a.m. to 12:30 p.m. EEST.
The event will be held at Sanomatalo Event Venue Eliel, Töölönlahdenkatu 2, Helsinki (the entrance to Flik’s premises is from Elielinaukio). It is also possible to join the event virtually via this link. In addition, representatives of the media are requested to submit their contact information (the name of the participant, email, and the name of the media) in advance to email@example.com.
Orion’s Chairman of the Board of Directors Mikael Silvennoinen, Liisa Hurme, and Timo Lappalainen will be present at the event. Due to the silent period, Orion will not comment on matters other than the appointment of the new President and CEO.
CV and photo of Liisa Hurme are attached to this release.
| Mikael Silvennoinen|
Chairman of the Board of Directors
| Olli Huotari|
SVP, Corporate Functions
Chairman of the Board of Directors Mikael Silvennoinen
tel. +358 50 1537
Contact person for the media and interview requests:
Terhi Ormio, Vice President, Communications, Orion Corporation
tel +358 50 966 4646; firstname.lastname@example.org
Curriculum Vitae of Liisa Hurme
Ph. D. (Biochemistry)
Senior Vice President, Global Operations, as of 1 January 2019 and Chairman of the Board of Fermion Oy as of 1 January 2014
Career in Orion
2019- Senior Vice President, Global Operations
2014- Chairman of the Board of Fermion Oy
2014-2018 Senior Vice President, Specialty Products
2008-2013 Senior Vice President, Proprietary Products
2005-2007 Head of Urology and Oncology business
2004-2005 Program Leader of pharmaceutical development projects for Hormonal and Urological therapies
2002-2004 Portfolio Manager
2001-2002 Project Manager
1999-2001 Researcher and Project Manager, Hormonal therapies
1995-1999 Senior Research Associate, Pharmacia & Upjohn, Diagnostics (Sweden) and ELIAS GmbH (Germany) and Institute Pasteur (France)
Former key positions of trust
Member of the Board: PharmaService Oy 2014-2016, Finnish Bioindustries FIB 2010-2016
Member of the Economic & Social Policy Committee of the European Federation of Pharmaceutical Industries and Associations (EFPIA) 2010-2015, Member of the Healthcare Sector Committee of the National Emergency Supply Organisation, NESO, 2014-2015
Liisa Hurme completed her doctoral thesis on biochemistry at the University of Helsinki, Faculty of Science, in 1996.
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are currently neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion's net sales in 2021 amounted to EUR 1,041 million and the company had about 3,350 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.