Board of Directors
The Board supervises the management of the Company and its operations. It also decides on important issues relating to strategy, investment, model of action, and financing.
The Board of Directors has two committees that report to the Board: The Audit Committee and the Remuneration Committee. The Board elects the members of the committees from among its members at the organizational meeting of the Board held after the Annual General Meeting. The Board of Directors has established written rules of procedure for both committees.
Composition and term add
According to the Articles of Association, the Board consists of at least four (4) and no more than eight (8) members. The members of the Board are elected at the Annual General Meeting and their term of office expires at the end of the Annual General Meeting following their election.
The Articles of Association do not impose any restrictions on the number of terms of office of Board members, nor do they in any way limit the discretion of the Annual General Meeting in the election of Board members. However, the Annual General Meeting may take into account the recommendations of the Corporate Governance Code governing the composition of the Board, in particular independence requirements and other requirements applicable to companies listed on a regulated market in Finland. The Board elects one of its members as Chairperson and may also elect a Vice Chairperson.
Duties of the Board add
The duties of the Board come from the Companies Act and other applicable legislation. The Board is responsible for the Company’s administration. Its tasks include:
- Deliberating and deciding on the Company’s strategy;
- Verifying the business plan and budget, as well as financing transactions (as far as not falling under the responsibility of the shareholders);
- Deliberating on and approving interim reports and/or interim management statements, the annual accounts and reports by the Board;
- Verifying internal controls, risk management systems and reporting procedures;
- Deciding on possible bonus and incentive schemes for management and possible general or special pension schemes, profit sharing schemes, or bonus schemes for employees of the Company;
- Deciding on any contracts which, given the scope and nature of the Company’s activities, are of unusual nature or significant importance, such as long-term lease contracts;
- Monitoring related party transactions; and
- Appointing or dismissing the CEO. The CEO appoints other employees who are members of the Company’s Management Team. Appointments are approved by the Company’s Board.
Independence of the Board add
According to the Corporate Governance Code, the majority of the Board members must be independent of the Company. At least two members of the Board who are independent of the Company must also be independent of the Company’s significant shareholders.
The Board assesses the independence of its members. The members of the Board confirm the information necessary to assess their independence annually and undertake to inform the Company, without delay, of any changes that may occur during the year of activity.
Board members
Arja Talma, born 1962
Chair since 2021
Main occupation: Board professional
M.Sc. (Econ.), eMBA
Board member since 2018
Chair of Remuneration Committee
Vice chair of the Audit Committee
An expert member of the Shareholders’ Nomination Board
Background add
Positions of trust
- Board member, Metso Corporation, 2016–
- Board member, Glaston Oyj, 2021–
- Board member, Nordea Bank Abp, 2022–
Work experience
- Senior Vice President, Store Sites and Investments, Kesko Corporation, 2013–2015
- President and CEO, Rautakesko Ltd, 2011–2013
- Senior Vice President, Chief Financial Officer (CFO), Kesko Corporation, 2005–2011
- Vice President, Corporate Controller, Kesko Corporation, 2004–2005
- Executive Vice President, Oy Radiolinja Ab, 2001–2003
- Partner, APA, Auditor, KPMG Wideri Oy Ab, 1987–2001
Independence
Independent of the Company and significant shareholders
Kati Riikonen, born 1971
Member of the Board
Main occupation: Independent consultant and advisor
M.Sc. (Econ)
Board member since 2023
Member of Audit Committee
Background add
Positions of trust
- Board member, Oma Säästöpankki Oyj 2024–
- Board member, Kamux Oyj, 2024–
Work experience
- Vice President, Online, Marketing and Analytics, Telia Finland Oyj, 2020–2025
- Business Director, Google Finland Oy, 2017–2020
- CEO, Isobar Finland Oy, 2015–2017
- Marketing Director and Online Director, DNA Oy, 2011–2015
- Enterpreneur, KRi Marketing Tmi, 2006–2011
- Marketing Director, Motorola Inc, 2003–2006
Independence
Independent of the Company and significant shareholders
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Irmeli Rytkönen, born 1959
Member of the Board
Main occupation: Board professional
LLM
Board member since 2024
Member of Audit Committee
Background add
Key positions of trust
- Board Chair, University Pharmacy (Helsinki University), 2019–
- Board Chair, Nurminen Logistics Oyj, 2021–
- Board Chair, Novita Oy, 2024–
- Board member, Muumimaailma Oy, 2019–
Work experience
- Director, Elkjøp Nordic AS, 2018–2019
- CEO, Gigantti Oy Ab, 1999–2018
- Consultant, Elkjøp ASA, 1997–1998
- CEO, Finnish Mixed Electricals Association, 1989–1996
Independence
Independent of the company and its significant shareholders
Enel Sintonen, born 1977
Member of the Board
Main occupation: Director of Finance, Kamux Oyj
M. Sc. (Econ.)
Board member since 2024
Chair of Audit committee
Background add
Positions of trust
- Board member, Vincit Oyj, 2025–
Work experience
- Director of Finance, Eltel Networks Oy, 2022–2025
- Partner and Principal Auditor of a number of listed companies, PricewaterhouseCoopers Oy, 2016–2022
- Various leadership positions and Authorized Public Accountant (KHT) exam (2011)
- PricewaterhouseCoopers Oy, 2006–2016
- Internal auditor, Kesko Corporation, 2003–2006
- Senior Associate, PricewaterhouseCoopers AS (Estonia), 2000–2003
Independence
Not independent of the Company, independent of significant shareholders
Robin Bade, born 1979
Main occupation: CEO and Founder, eBrands
BBA, studies in economics
Board member since 2023
Member of Remuneration Committee
Background add
Positions of trust
- Board member, eBrands Holdings Oy 2020–
- Board member, Tulos Group 2020–
- Board member, Liwlig Group Oy 2018–
Work experience
- CEO Europe, Mirum Agency (WPP Plc), 2012–2019
- CEO and Founder, Activeark Oy, 2003–2012
Independence
Independent of the Company and significant shareholders
Samuli Seppälä, born 1975
Member of the Board
Main occupation: Enterpreneur
Born 1975, High school graduate
Board member since 1998
Background add
Positions of trust
- Board member of F. Sergejeffin Olut-tehdas Osakeyhtiö 2014–
Work experience
- Founder, CEO, Verkkokauppa.com Oyj, 1992–2018
Independence
Not independent of the company, not independent of significant shareholder
Henrik Pankakoski
Member of the Board
Main occupation: Regional General Manager Nordics, Wolt Oy
Born 1984, M.Sc. (Econ)
Board member since 2023
Member of Remuneration Committee
Background add
Work experience
- General Manager Finland, Wolt 2017–2022
- Several roles in management consulting, The Boston Consulting Group 2008–2017
Independence
Independent of the Company and significant shareholders
