Board of Directors
The Board of Directors is responsible for the company’s strategic development and for supervising and steering the company’s business and management. Further, under the Articles of Association and in line with the Companies Act, the Board of Directors represents the company and is responsible for the proper arrangement of the control of the company’s accounts and finances. The Board of Directors is also responsible for defining the company’s mission and values.
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Matti LievonenChairman Born 1958, nationality: Finnish B.Sc. (Eng.), eMBA, D.Sc. (Tech) h.c. Independent member of Fortum's Board of Directors since 2017 Chairman of the Nomination and Remuneration Committee
Main occupation: President & CEO, Neste Corporation
Primary work experience: President of the Fine and Speciality Papers Division at UPM-Kymmene Corporation, and number of other senior positions at UPM 1986–2008, and prior to that at ABB, Member of UPM-Kymmene's Executive Board 2002–2008
Key positions of trust: East Office of Finnish Industries Oy, Member of the Board Suomen Messut Osuuskunta, Member of the Supervisory Board National Emergency Supply Agency (HVK), Member of the Supervisory Board Nynäs AB, Member of the Board SSAB AB, Member of the Board Solvay SA, Member of the Board |
Klaus-Dieter MaubachDeputy Chairman Born 1962, German citizen Independent Member of Fortum's Board of Directors since 2018 Member of the Nomination and Remuneration Committee Fortum shareholding: 0
Main occupation: Managing Partner, maubach.icp GmbH
Primary working experience:
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Heinz-Werner BinzelBorn 1954, nationality: German Economics and electrical engineering degree Independent member of Fortum's Board of Directors since 2011 Member of the Audit and Risk Committee Fortum shareholding on 31 Dec 2017: 0
Main occupation: Independent consultant
Primary work experience: RWE Energy AG, Member of the Executive Board, procurement and sale of electricity, gas, and water 2003–2005 RWE Solutions AG, Member of the Executive Board as CFO, 1999–2002 and as CEO 2002–2003 NUKEM GmbH, several senior executive positions in Germany and the USA 1981–1999
Key positions of trust: TÜV Rheinland Holding AG, Member of the Supervisory Board Chairman of the Audit Committee |
Eva HamiltonBorn 1954, nationality: Swedish B.A. Journalism, honorary doctorate degree at Mid Sweden University (Mittuniversitetet) Independent Member of Fortum's Board of Directors since 2015 Member of the Nomination and Remuneration Committee Fortum shareholding on 31 Dec 2017: 40
Main occupation: Senior adviser
Primary work experience: Sveriges Television (SVT), CEO, 2006–2014 Sveriges Television (SVT), Head of SVT Fiction, 2004–2006 Sveriges Television (SVT), Head of News, 2000–2004 Sveriges Television (SVT), Foreign Correspondent, Brussels 1993–1996 Aftonbladet 1978–1979, Svenska Dagbladet 1979–1988, Dagens Industri 1988–1989: news reporter
Key positions of trust: Nexiko Media AB, Chairman of the Board Kungliga Dramatiska Teatern AB, Member of the Board LKAB, Member of the Board Lindex AB, Member of the Board IVA (Royal Swedish Academy of Engineering), Member of the Board Näringslivsrådet, Chairman Moment Group AB, Member of the Board Swedish Film & TV Producers Association, Chairman Arholma Landsort AB, Member of the Board |
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Kim IgnatiusBorn 1956, nationality: Finnish B.Sc. (Econ.), Helsinki School of Economics and Business Administration Independent member of Fortum's Board of Directors since 2012 Chairman of the Audit and Risk Committee Fortum shareholding on 31 Dec 2017: 2,400
Main occupation: Non-executive Director
Primary work experience: Sanoma Corporation, Chief Financial Officer 2008-2016, Executive Vice President 2017 TeliaSonera AB, Executive Vice President and Cfo 2003–2008 Sonera Oyj, Executive Vice President and CFO 2000–2002 Tamro Oyj, group CFO 1997–2000
Key positions of trust: Rovio Entertainment Corporation, Member of the Board RR Holding Oy, Chairman of the Board |
Essimari KairistoBorn 1966, Finnish and German citizen Independent Member of Fortum's Board of Directors since 2018 Member of the Audit and Risk Committee Fortum shareholding: 0
Main occupation: Consultant
Primary working experience: |
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Anja McAlister Born 1960, nationality: Finnish M.Sc., Energy technology, MBA Independent member of Fortum's Board of Directors since 2017 Member of the Nomination and Remuneration Committee Fortum shareholding 31 Dec 2017: 0
Main occupation: Independent consultant
Primary work experience: Pöyry PLC, President Energy Business Group 2015–2017 Pöyry Management Consulting Oy, Vice President 2014–2015 Renewa Oy, (biomass boiler manufacturer), Managing director 2013 UPM Group, Senior Vice president, head of Energy Business 2004–2013 Electrowatt-Ekono Oy (part of the Pöyry Group), Senior Vice President, Head of the Management Consulting Northern Europe 2000–2004 Ministry of Trade and Industry, Finland, Industrial Counsellor, head of Energy Policy and Analyses team 1998–2000 Kymppivoima Oy, Operations Manager and Managing Director 1995–1998 Energia-Ekono Oy, Senior Consultant 1993–1995 Sheffield Heat and Power Ltd., Sheffield, UK, Technical Manager 1990–1993 City of Kuopio, Finland, Operations Manager of MW biomass CHP plant 1984–1989 |
Veli-Matti ReinikkalaBorn 1957, nationality: Finnish Executive Master of Business Administration Independent Member of Fortum's Board of Directors since 2016 Member of the Audit and Risk Committee Fortum shareholding on 31 Dec 2017: 3,000
Main occupation: Non-executive Director
Primary work experience: ABB, President of Region Europe 2015 and Member of the Group Executive Committee 2006–2015 ABB, President of Process Automation division 2006–2014, Head oof Business Area Process Automation 2005 ABB China, Automation Technologies Division Manager 2003–2004 ABB Drives & Power Electronics, Business Area Manager 2002 ABB Drives, Manager, 1996–2002 ABB Industry Oy, CFO 1994–1996 Before 1994, various positions in paper and packaging
Key positions of trust: Cramo Plc, Chairman of the Board UPM-Kymmene Corporation, Member of the Board |
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The Board of Directors comprises five to ten members who are elected at the Annual General Meeting for a one-year term of office expiring at the end of the first Annual General Meeting following the election. The Annual General Meeting also elects the Chairman and the Deputy Chairman of the Board of Directors.
Assesment
As part of its duties, the Board of Directors conducts an annual self-assessment in order to further develop its work. In accordance with the Finnish Corporate Governance Code, the Board of Directors also annually evaluates which of the directors are independent of the company and which are independent of its significant shareholders.
Board of Directors in 2018
The Annual General Meeting on 28 March 2018 re-elected Matti Lievonen as Chairman, Kim Ignatius, Heinz-Werner Binzel, Eva Hamilton, Anja McAlister, and Veli-Matti Reinikkala. In addition, Klaus-Dieter Maubach was elected as new Deputy Chairman and Essimari Kairisto as new member to the Board of Directors until the end of the Annual General Meeting in 2019.
The Chairman, the Deputy Chairman and the members of the Board of Directors are independent of the company and of the company’s significant shareholders.