Board of Directors

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Sari Baldauf

Chairman
born 1955, nationality: Finnish
M.Sc., Business Administration, honorary doctorate degrees in Technology (Helsinki University of Technology) and Business Administration (Turku School of Economics and Business Administration, and Aalto University School of Business)
Independent member of Fortum’s Board of Directors since 2009
Member of the Nomination and Remuneration Committee
Fortum shareholding on 31 Dec 2016: 2,300
 
Main occupation:
Non-executive Director
 
Primary work experience:
Nokia Corporation, several senior executive positions. Member of the Group Executive Board until 2005.
 
Key positions of trust:
Vexve Holding Oy, Chairman of the Board
Akzo Nobel N.V., Daimler AG, and Deutsche Telekom AG: Member of the Supervisory Board
DevCo Partners Oy, Senior Advisor
Tukikummit-säätiö, Kasvuryhmä ry, Teknologiateollisuuden 100-vuotissäätiö: Member of the Board
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Matti Lievonen

Vice Chairman
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
Fortum shareholding 2016: 1,500
 
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
Chemical Industry Federation of Finland, Member of the Board
Suomen Messut Osuuskunta, Member of the Supervisory Board
National Emergency Supply Agency (HVK), Member of the Supervisory Board
The Finnish Business and Policy Forum (EVA), Member of the Supervisory Board
Nynäs AB, Member of the Board
SSAB AB, Member of the Board
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Heinz-Werner Binzel

Born 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 2016: 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
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Eva Hamilton

Born 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 2016: 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, Chairman of Näringlivsrådet
Nobel Center, Member of the Board
Arholma Landsort AB, Member of the Board
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Kim Ignatius

Deputy Chairman
Born 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 2016: 2,400
 
Main occupation:
Sanoma Corporation, Executive Vice President, Group Executive Team member
 
Primary work experience:
TeliaSonera AB, Executive Vice President and CFO 2003–2008
Sonera Oyj, Executive Vice President and CFO 2000–2002
Tamro Oyj, Group CFO 1997–2000
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Tapio Kuula

born 1957, nationality: Finnish
M.Sc. (Eng.), M.Sc. (Econ.), honorary doctorate degree in Technology (Lappeenranta University of Technology)
Member of Fortum’s Board of Directors since 2015, independent of the significant shareholders, not independent of the company (acted as President and CEO of Fortum until 31 January 2015)
Member of the Nomination and Remuneration Committee
Fortum shareholding on 31 Dec 2016: 201,200
 
Main occupation:
Non-executive Director
 
Primary work experience:
Fortum Corporation, President and CEO 2009–31 January 2015
Fortum Corporation, Senior Vice President 2005–2009
Fortum Corporation, Power and Heat Sector, President 2000–2005
Member of the Management Team of Fortum since 1997
Several managing director positions in utility companies in Finland
 
Key positions of trust:
Nokian Tyres Plc., Vice Chairman of the Board, Chairman of Personnel and Remuneration Committee
Northern Dimension Business Council, Co-Chairman
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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 Audit and Risk Committee
Fortum shareholding: 0

Main occupation:
Head of Transformation and Strategy, Head of Human Resources (interim), Pöyry PLC
 
Primary work experience:
Pöyry PLC, President Energy Business Group 2015-2016
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 & 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 100/200 MW biomass CHP plant 1984-1989
 
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​Veli-Matti Reinikkala

Born 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 2016: 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 of 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 companies in Finland
 
Key positions of trust:
UPM-Kymmene Corporation, Member of the Board
 

 

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.
 
The Board of Directors comprises five to eight 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.
 

Board of Directors in 2017 

The Annual General Meeting on 4 April 2017 re-elected Sari Baldauf as Chairman, Kim Ignatius, Heinz-Werner Binzel, Eva Hamilton, Tapio Kuula, and Veli-Matti Reinikkala. In addition, Matti Lievonen was elected as new Vice Chairman and Anja McAlister as new member to the Board of Directors until the end of the Annual General Meeting in 2018.
 
The Chairman, the Deputy Chairman and the members of the Board of Directors are, with the exception of Tapio Kuula (Mr. Kuula acted as President and CEO of Fortum until 31 January 2015), independent of the company and all are independent of the company’s significant shareholders. Three members, including the Chairman, are female and five members are male.
 

Board of Directors in 2016

In 2016, until the Annual General Meeting held on 4 April 2017, the Board of Directors comprised the following eight members: Chairman Sari Baldauf, Deputy Chairman Kim Ignatius, Minoo Akhtarzand, Heinz-Werner Binzel, Eva Hamilton, Tapio Kuula and Jyrki Talvitie, and Veli-Matti Reinikkala
 
The Board of Directors met 15 times, and the attendance rate was 99%.

 

5/19/2017