Outokumpu has appointed Mr Karri Kaitue Deputy Chief Executive Officer of Outokumpu and Vice Chairman of the Group Executive Committee, effective 1 January 2005. Karri Kaitue, currently Executive Vice President – Strategy and Business Development, and Member of the Group Executive Committee, will take over his new position from Risto Virrankoski, who will retire on 15 February 2005 as earlier announced. From 1 January 2005 until his retirement Risto Virrankoski will serve as Senior Adviser to the CEO and continue as Member of the Group Executive Committee. Karri Kaitue joined the Outokumpu Group in 1990. Just prior to his current posting, he was President of Outokumpu Stainless’s Coil division, the largest division of the Group.