Executive management team

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Pekka Lundmark

President and CEO since 2015
Born 1963, nationality: Finnish
M.Sc. (Eng.)
Member of the Executive Management Team since 2015
Employed by Fortum since 2015
Fortum shareholding on 31 Dec 2016: 56,250
 
Previous positions:
Konecranes Plc, President and CEO, 2005–2015
Konecranes Plc, Group Executive Vice President, 2004–2005
Hackmann Oyj Abp, President and CEO, 2002–2004
Startupfactory Oy, Managing Partner, 2000–2002
Nokia Corporation, various executive positions, 1990–2000
 
Key positions of trust:
Finnish Energy, Chairman of the Board
Confederation of Finnish Industries, Member of the Board
Helsinki Metropolitan Smart & Clean Foundation, Chairman of the Board
East Office of Finnish Industries, Member of the Board
Climate Leadership Council, Memeber of the Board
Fortum Foundation, Chairman of the Board
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​Alexander Chuvaev

Executive Vice President, Russia Division and General Director of OAO Fortum since 2009
Born 1960, nationality: Russian
M.Sc. (Eng.)
Member of the Executive Management Team since 2009
Employed by Fortum since 2009
Fortum shareholding on 31 Dec 2016: 14,713
 
Previous positions:
GE Oil & Gas, Regional Executive Director, Russia and CIS 2009
SUEK, Investment Development Director, Russia 2008–2009
JSC Power Machines, Managing Director, Russia 2006–2008
GE Oil & Gas, Regional General Manager, Russia 2006
JSC OMZ, Chief Operations Officer, Russia 2005–2006
GE, various positions in the USA and Canada 1999–2005
Solar Turbines Europe S.A., various positions in Europe and the USA 1991–1999
 
Key positions of trust:
Energy Producers Council, Deputy Head of the Supervisory Board
Russian Union of Industrialists and Entrepreneurs, Member of the Board, Chairman of Commission on Public Utility
Territorial Generating Company No. 1 (TGC-1), Member of the Board
Government Commission on the Development of the Electric Power Industry, Member
Aggreko Aurasia LLC, Non-executive member of the Management Board
 
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​Kari Kautinen

Senior Vice President, M&A and Solar & Wind Development as of 1 April 2016
Born 1964, nationality: Finnish
LL.M
Member of the Executive Management Team since 2014
Employed by Fortum since 1998
Fortum shareholding on 31 Dec 2016: 29,246
 
Previous positions:
Fortum Corporation, Senior Vice President, Strategy, Mergers and Acquisitions 2014–2016
Fortum Corporation, Vice President, Strategy, Mergers and Acquisitions 2012–2014
Fortum Corporation, Vice President, Mergers and Acquisitions 2007–2012
Fortum, several managerial positions 1998–2007
 
Key positions of trust:
TGC 1, Member of the Board of Directors
 
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​Per Langer                                                                 

Executive Vice President, City Solutions as of 1 March 2017
Born 1969, nationality: Swedish
M.Sc. (Econ.)
Member of the Executive Management Team since 2009
Employed by Fortum since 1999
Fortum shareholding on 31 Dec 2016: 29,212
 
Previous positions:
Fortum Corporation, Senior Vice President, Technology and New Ventures 2016-2017
Fortum Corporation, Executive Vice President, Hydro Power and Technology 2014–2016
Fortum Power and Heat Oy, Executive Vice President, Heat Division 2009–2014
Fortum Power and Heat Oy, President of Heat 2007–2009
Fortum Power and Heat Oy, President of Portfolio Management and Trading 2004–2007
Fortum Oyj, managerial positions 1999–2004
Gullspång Kraft, managerial positions 1997–1999
 
Key positions of trust:  
Fortum Värme Holding samägt med Stockholms stad AB, Vice Chairman of the Board
Exeger Sweden AB, Member of the Board
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Risto Penttinen

Senior Vice President, Strategy, People and Performance as of 1 April 2016
Born in 1968, nationality: Finnish
MSc (Economics)
Member of the Executive Management Team as of 1 April 2016
Employed by Fortum since 2011
 
Fortum shareholding on 31 Dec 2016: 8,795

Previous positions:
Fortum Corporation, Vice President, Corporate Strategy 2014–2016
Fortum Power Division, Vice President, Strategic Ventures 2011–2014
McKinsey & Company, Partner 2005–2011
McKinsey & Company, Consultant and Project Leader 1996 and 1997–2005
 
 
Key positions of trust: 
Varma Mutual Pension Insurance Company, Member of the Supervisory Board
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​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 Team since 2012
Employed by Fortum since 2012
Fortum shareholding on 31 Dec 2016: 27,847
 
Previous positions:
Fortum Corporation,Executive Vice President, City Solutions 2016-2017
Fortum Corporation, Executive Vice President, Heat, Electricity Sales and Solutions 2014–2016
Fortum Corporation, Chief Financial Officer 2012–2014
Stora Enso Oyj, Helsinki, CFO and Member of the GET 2008–2012
Stora Enso International, London, SVP Group Treasurer 2004–2008
Stora Enso Oyj, Helsinki, VP Strategy and Investments 2001–2004
Stora Enso Financial Services, Brussels, VP Head of Funding 1999–2001
Enso Oyj, Helsinki, several financial tasks 1993–1999
 
Key positions of trust:
Wärtsilä Oyj Abp, Member of the Board
Teollisuuden Voima Oyj, Member of the Board  
AB Fortum Värme samägt med Stockholms stad, Deputy Chairman of the Board of Directors
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​Matti Ruotsala

Deputy CEO as of 1 April 2016
Born 1956, nationality: Finnish
M.Sc. (Eng.)
Member of the Executive Management Team since 2009
Employed by Fortum since 2007
Fortum shareholding on 31 Dec 2016: 46,509
  
Previous positions:
Fortum Corporation, Chief Operating Officer 2014–2016
Fortum Corporation, Power Division, Executive Vice President 2009–2014
Fortum Power and Heat Oy, President of Generation 2007–2009
Valtra Ltd, Managing Director 2005-2007
AGCO Corporation, Vice President 2005-2007
Konecranes Plc, Chief Operating Officer (COO) and Deputy CEO 2001–2005
Konecranes Plc and Kone Corporation, several senior and managerial positions 1982–2001 

Key positions of trust:
PKC Group Oyj, Chairman of the Board
Teollisuuden Voima Oyj, Vice Chairman of the Board
Halton Group Ltd, Member of the Board
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Arto Räty

Senior Vice President, Corporate Affairs & Communications as of 29 February 2016
Born 1955, nationality: Finnish
Lieutenant General (Ret.)
Member of the Executive Management Team as of 1 April 2016
Employed by Fortum since 2016
Fortum shareholding on 31 Dec 2016: 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 , Kosovo 2000;
Deputy Chief of the International Department, Defence Command 1997–2000;
Director of the National Defence Courses of the Finnish Government 2003–2004;
Finnish Liaison Officer at NATO HQ and PCC SHAPE, Brussels, Belgium,1994–1997

Key positions of trust:
Fennovoima Oy, Deputy member of the Board
Destia Oy, Chairman of the Board
Ahlström Capital Cleantech Fund I, Member of the Board
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Mikael Rönnblad

Executive Vice President, Consumer Solutions as of 15 May 2017
Born 1969, nationality: Finnish
M.Sc. (Econ.)
Member of the Executive Management Team since 15 May 2017
Employed by Fortum since 15 May 2017
Fortum shareholding: 0
 
Previous positions:
Elisa Corporation, SVP & GM, New Digital Services Businesses and Consumer Customers Executive Board Member 2009-2017
Elisa Corporation, VP, Corporate Strategy and Acquisitions 2004-2009
ABN AMRO Global Equities, London, Director and Global Head of Nordic Sector 2000-2004
Pannon, Budapest, General Manager and Head of Department 1999-2000
Sonera Corporation, Manager, Corporate Venturing and International Mobile Operations 1997-2000
Hanken Swedish School of Economics, Project Director and Assistant Professor (acting) 1995-1997
Vectia Ltd, Junior Strategy Consultant 1994-1995
Nokia Corporation, In-house Consultant, Major Accounts Sales 1991-1993
 
Key positions of trust:
Nikus Oy Ab, Chairman of the Board
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Sirpa-Helena Sormunen

General Counsel since 2014
Born 1959, nationality: Finnish
LL.M, Trained on the bench
Member of the Executive Management Team since 2014
Employed by Fortum since 2014
Fortum shareholding on 31 Dec 2016: 3,000

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

Key positions of trust:
Nammo AS, Member of the Board of Directors
Association of Finnish Fine Arts Foundations, Member of the Board
Fortum Art Foundation, Chairman of the Board
 
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​Tiina Tuomela

Executive Vice President, Generation as of 1 April 2016
Born 1966, nationality: Finnish
M.Sc. (Eng.), MBA
Member of the Executive Management Team since 2014
Employed by Fortum since 1990
Fortum shareholding on 31 Dec 2016: 12,991

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

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

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.

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.
 

7/17/2017