Executive Management

Each member of the Fortum Executive Management is responsible for the day-to-day operations and the implementation of operational decisions in their respective organisations. The Fortum Executive Management meets on a monthly basis.

Pekka Lundmark, President and CEO

Pekka Lundmark

President and CEO since 2015
Born 1963, nationality: Finnish
M.Sc. (Eng.)
Member of the Executive Management since 2015
Employed by Fortum since 2015

Fortum shareholding on 31 Dec 2018: 67,166

 

Previous positions: President and CEO of Konecranes Plc in 2005–2015 and Group Executive Vice President in 2004–2005; President and CEO of Hackmann Oyj Abp 2002–2004; Managing Partner of Startupfactory Oy 2000–2002; various executive positions at Nokia Corporation 1990–2000

Key positions of trust: Chairman of the Directors of Confederation of Finnish Industries, Chairman of the Board of Helsinki Metropolitan Smart & Clean Foundation, and Fortum Foundation; member of the Board of East Office of Finnish Industries and Climate Leadership Council

Arun Aggarwal

Arun Aggarwal

SVP, Business Technology since 17 October 2018
Born 1969, nationality: American
M.Sc. (Manufacturing Systems Eng.
Member of the Executive Management since 17 October 2018
Employed by Fortum since 17 October 2018
Fortum shareholding 31 Dec 2018: 0

Previous positions: Executive Advisor at IBM Corporation 2018; Global CIO, Digital Transformation Leader of Cemex Inc. 2015-2017; Executive Advisor at Cemex Inc. 2012-2015; President of The Waterside Group 2006-2015; Director at Bearing Point Inc. (formerly KPMG Consulting) 2001-2005; Senior Manager at KPMG Consulting Inc. 1992-2001

Alexander Chuvaev

Alexander Chuvaev

Executive Vice President, Russia Division and General Director of PAO Fortum since 2009
Born 1960, nationality: Russian
M.Sc. (Eng.)
Member of the Executive Management since 2009
Employed by Fortum since 2009
Fortum shareholding on 31 Dec 2018: 22,053

Previous positions: Regional Executive Director of GE Oil & Gas, Russia and CIS 2009; Investment Development Director of SUEK, Russia 2008–2009; Managing Director of JSC Power Machines, Russia 2006–2008; Regional General Manager of GE Oil & Gas, Russia 2006; Chief Operations Officer of JSC OMZ, Russia 2005–2006; Various positions at GE in the USA and Canada 1999–2005; various positions at Solar Turbines Europe S.A. in Europe and the USA 1991–1999

Key positions of trust: Deputy Head of the Supervisory Board of Energy Producers Council; Member of the Board & Chairman of Commission on Public Utility of Russian Union of Industrialists and Entrepreneurs; Member of the Board of Directors of TGC-1; Member of Government Commission on the Development of the Electric Power Industry; Non-executive member of the Management Board of Aggreko Eurasia LLC, General Director of Wind Power AM LLC

Per Langer

Per Langer

Executive Vice President, City Solutions as of 1 March 2017
Born 1969, nationality: Swedish
M.Sc. (Econ.)
Member of the Executive Management since 2009
Employed by Fortum since 1999
Fortum shareholding on 31 Dec 2018: 33,191

Previous positions: Senior Vice President, Technology and New Ventures of Fortum Corporation 2016–2017; Executive Vice President, Hydro Power and Technology of Fortum Corporation 2014–2016; Executive Vice President, Heat Division of Fortum Power and Heat Oy 2009–2014; President of Heat of Fortum Power and Heat Oy 2007–2009; President of Portfolio Management and Trading of Fortum Power and Heat Oy 2004–2007; managerial positions at Fortum Oyj 1999–2004; managerial positions at Gullspång Kraft 1997–1999

Key positions of trust: Chairman of the Board of Stockholm Exergi AB; Deputy Chairman of the Board of Fortum Oslo Varme AS; Member of the Board of Exeger Sweden AB

Risto Penttinen

Risto Penttinen

Senior Vice President, Strategy, People and Performance since 2016
Born in 1968, nationality: Finnish
M.Sc. (Economics)
Member of the Executive Management since 2016
Employed by Fortum since 2011
Fortum shareholding on 31 Dec 2018: 12,355

Previous positions: Vice President, Corporate Strategy of Fortum Corporation 2014–2016; Vice President, Strategic Ventures of Fortum Power Division 2011–2014; Partner at McKinsey & Company 2005–2011; Consultant and Project Leader at McKinsey & Company 1996 and 1997–2005

Key positions of trust: Deputy member of the Board of Varma Mutual Pension Insurance Company

markus_rauramo_2.jpg

Markus Rauramo

Chief Financial Officer as of 1 March 2017
Born 1968, nationality: Finnish
M.Sc. (Econ. and Pol. Hist.)
Member of the Executive Management since 2012
Employed by Fortum since 2012
Fortum shareholding on 31 Dec 2018: 34,135

Previous positions: Executive Vice President, City Solutions of Fortum Corporation 2016–2017; Executive Vice President, Heat, Electricity Sales and Solutions of Fortum Corporation 2014–2016; CFO of Fortum Corporation 2012–2014; CFO of Stora Enso Oyj 2008–2012; SVP, Group Treasurer of Stora Enso International 2004–2008; VP, Strategy and Investments at Stora Enso Oyj 2001–2004; VP Head of Funding of Stora Enso Financial Services 1999–2001; several financial tasks at Enso Oyj 1993–1999

Key positions of trust: Vice Chairman of the Supervisory Board of Uniper SA; Member of the Board of Wärtsilä Oyj Abp and Teollisuuden Voima Oyj

Arto Räty

Arto Räty

Senior Vice President, Corporate Affairs & Communications since 2016
Born 1955, nationality: Finnish
Lieutenant General (Ret.)
Member of the Executive Management since 2016
Employed by Fortum since 2016
Fortum shareholding on 31 Dec 2018: 0

Previous positions: Permanent Secretary at the Ministry of Defence of Finland 2011–2015 and Director of the National Defence Policy Unit 2005–2008; Various positions within Finnish Defence Forces including: Deputy Chief of Staff, Operations at Defence Command 2009–2010, Chief of Staff at Army Command 2008–2009, Brigade Commander, Pori Brigade 2000–2002, Commanding Officer of the Finnish Battalion in KFOR in Kosovo 2000, Deputy Chief of the International Department, Defence Command 1997–2000, Director of the National Defence Courses of the Finnish Government 2003–2004 and Finnish Liaison Officer at NATO HQ and PCC SHAPE in Brussels, Belgium 1994–1997

Key positions of trust: Member of the Board of Aalto University Executive Education Oy, Suomi Gas Distribution Holding Oy, AC Cleantech Management Oy, TT Foundation, Fortum Art Foundation, and Urlus Foundation; Deputy member of the Board of Fennovoima Oy; Member of the Board of Trustees of Savonlinna Opera Festival

Mikael Rönnblad

Mikael Rönnblad

Executive Vice President, Consumer Solutions since 2017
Born 1969, nationality: Finnish
M.Sc. (Econ.)
Member of the Executive Management since 2017
Employed by Fortum since 2017
Fortum shareholding 31 Dec 2018: 0

Previous positions: SVP & GM of New Digital Services Businesses and Consumer Customers Executive Board Member of Elisa Corporation 2009–2017; VP, Corporate Strategy and Acquisitions of Elisa Corporation 2004–2009; Director and Global Head of Nordic Sector of ABN AMRO Global Equities 2000–2004; General Manager and Head of Department at Pannon, Hungary 1999–2000; Manager, Corporate Venturing and International Mobile Operations at Sonera Corporation 1997–2000; Project Director and Assistant Professor (acting) at Hanken Swedish School of Economics 1995–1997; Junior Strategy Consultant at Vectia Ltd 1994–1995; In-house Consultant, Major Accounts Sales at Nokia Corporation 1991–1993

Key positions of trust: Chairman of the Board of Nikus Oy Ab

Sirpa-Helena Sormunen

Sirpa-Helena Sormunen

General Counsel since 2014
Born 1959, nationality: Finnish
LL.M, Trained on the bench
Member of the Executive Management since 2014
Employed by Fortum since 2014
Fortum shareholding on 31 Dec 2018: 6,656

Previous positions: General Counsel of Patria Oyj 2012–2014; several legal and managerial positions at Nokia and Nokia Siemens Networks 2004–2012; Vice President, Head of Legal, Mergers & Acquisitions and Finance of TeliaSonera Finland Oyj 2003–2004; Senior Legal Counsel, Head of Legal, Merger & Acquisitions of Sonera Oyj 2000–2002

Key positions of trust: Member of the Board of Directors of Nammo AS and Association of Finnish Fine Arts Foundations; Chairman of the Board of Fortum Art Foundation

Tiina Tuomela

Tiina Tuomela

Executive Vice President, Generation since 2016
Born 1966, nationality: Finnish
M.Sc. (Eng.), MBA
Member of the Executive Management since 2014
Employed by Fortum since 1990
Fortum shareholding on 31 Dec 2018: 17,671

Previous positions: Executive Vice President, Nuclear and Thermal Power Division of Fortum Corporation 2014–2016; Vice President, Finance in Power Division at Fortum Power and Heat Oy 2009–2014; Vice President, Business Control and Support, Generation at Fortum Power and Heat Oy 2005–2009; several managerial positions at Fortum 1990–2005

Key positions of trust: Chairman of the Board of Kemijoki Oy; Member of the Board of Finnish Energy, YIT Corporation and Teollisuuden Voima Oyj

 

The Fortum Executive Management assists the President and CEO in implementing the strategic and sustainability targets within the framework approved by the Board of Directors, preparing the Group’s business plans, and deciding on investments, mergers, acquisitions and divestments within its authorisation. Financial and sustainability results are reviewed in the monthly reporting by the Fortum Executive Management. Quarterly Performance Review meetings with the management are embedded in the Fortum Performance Management process.