Domtar Corporation reported a net loss of $59 million for the fourth quarter of 2020 compared to a net loss of $92 million for the third quarter of 2020, and a net loss of $34 million for the fourth quarter of 2019. Sales for the fourth quarter of 2020 were $0.9 billion. The fourth quarter 2020 results include an after-tax loss of $43 million from discontinued operations related to the announced sale of the Personal Care Business, compared to earnings of $19 million for the third quarter of 2020 and earnings of $10 million for the fourth quarter of 2019. Excluding discontinued operations and the items listed below, the Company had earnings from continuing operations before items1 of $19 million for the fourth quarter of 2020, compared to loss from continuing operations before items1 of $1 million for the third quarter of 2020 and loss from continuing operations before items1 of $9 million for the fourth quarter of 2019.
Winfried Schaur has been appointed as Executive Vice President, Technology and Mika Kekki as Executive Vice President, UPM Plywood as of October 1, 2021. Both will be members of UPM’s Group Executive Team and report to Jussi Pesonen, President and CEO. They will succeed Jyrki Ovaska and Mika Sillanpää who both will retire at the age of 63 at the end of 2021.
Winfried Schaur is currently the Executive Vice President, UPM Communication Papers and member of the Executive Team. He has held several senior positions in UPM’s paper business since 2001.
Mika Kekki is currently the Vice President, Production & Operations, responsible for UPM’s eight plywood mills and production related support functions. He has held several management positions in UPM and preceding companies since 1994.
“While I wish the best of success both to Winfried and Mika in their new roles, I would like to thank warmly both Jyrki and Mika for the successful careers both have had for almost 40 years in UPM and in the predecessor companies. Both have a strong business background and have been ready to renew with courage and take on new kinds of responsibilities. Both have also been able to empower and set an excellent example to new generation of UPMers,” says Jussi Pesonen, President & CEO of UPM.
Recruitment to positions which have now become vacant in UPM Communications Papers and UPM Plywood will start immediately.