The extension was triggered following talks between Vauramo and the Finnish quarrying, mining and construction materials processing solutions manufacturer's board of directors.
In October 2020, Metso Outotec announced that Vauramo's contract was extended until the end of 2023.
Pekka Vauramo started as Metso's president and CEO in November 2018 and has continued as Metso Outotec's president and CEO after the July 2020-completed merger.
"Following the merger of Metso Minerals and Outotec, Metso Outotec has executed its strategy successfully, and the company is well positioned for future growth. In the prevailing uncertain global environment, it is appropriate that there is continuity in the leadership and that Pekka Vauramo's contract as president and CEO is extended", said Kari Stadigh, chair of the Board of Metso Outotec.
"Metso Outotec has developed well, and we continue to have good opportunities ahead. I am happy to be part of the journey for another year," said Vauramo.
Headquartered in Helsinki, Metso Outotec's strong market activity continued in Q3 2022. Orders received totalled €1,401mn; sales grew 37% to €1,402mn; adjusted EBITA increased to €207mn, and operating profit increased to €192mn.