UPM and Sappi name further management team for graphic paper joint venture
UPM and Sappi have conditionally nominated four additional executives to the management team of their planned graphic paper joint venture, adding to the CEO and CFO named earlier in September 2026. The nominations remain conditional on regulatory approval and completion of the transaction, which is under EU Phase II merger review with final resolutions expected by end-2026.
Why this mattersAdvancing management appointments signals the two paper makers are preparing for closing despite an ongoing EU antitrust review of their graphic paper tie-up.
- UPM and Sappi conditionally nominated four executives to the joint venture management team on 14 September 2026.
- Gunnar Eberhardt and Stephen Blyth were nominated earlier in September 2026 as CEO and CFO respectively.
- The joint venture was announced in 2025 and definitive agreements signed in May 2026.
- EU merger review entered Phase II on 28 April 2026, with final regulatory resolutions expected by end-2026.
- Marco Eikelenboom, currently CEO of Sappi Europe, is nominated as Senior Vice President Sales and Marketing.
- Until closing, UPM and Sappi continue to operate their respective businesses independently.