Governance Information • Feb 9, 2010
Governance Information
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(UNOFFICIAL TRANSLATION OF THE FINNISH ORIGINAL)
Kemira Oyj's corporate governance is based on the Articles of Association, the Finnish Companies Act and NASDAQ OMX Helsinki Ltd's rules and regulations on listed companies.
Furthermore, the Company complies with the Finnish Corporate Governance Code, with the exception that the Nomination Committee primarily consists of members outside the Company's Board of Directors which is not in line with the Governance Code's recommendation 22. According to the view of the Company's Board of Directors, it is in the best interest of the Company and its shareholders that the biggest shareholders participate in preparing nomination and compensation issues related to the Board of Directors.
The Finnish Corporate Governance Code is publicly available at www.cgfi nland.fi .
This statement has been published as a separate report at the same time as the report by the Board of Directors.
The Shareholders' Meeting, the Board of Directors and the Managing Director are responsible for Kemira's management and operations. Their tasks are defi ned based on the Finnish Companies Act and Kemira's Articles of Association.
Kemira Oyj's shareholders' meeting, the Company's highest decision-making body, is held at least once a year. The Annual General Meeting (AGM) must be held each year by the end of May.
The AGM makes decisions on tasks within its competence under the Companies Act and the Articles of Association, such as the adoption of the fi nancial statements and dividend payout, the discharge of Board members and the Managing Director and his Deputy from liability, the election of the Chairman, Vice Chairman and other members of the Board of Directors and their emoluments, and the election of the auditor and the auditor's fees.
A notice of a shareholders' meeting must be published in at least two national newspapers, specifi ed by the Board of Directors, no earlier than 2 months and no later than 21 days prior to the meeting. Kemira also publishes the notice of a shareholders' meeting as a stock exchange release and on its web pages.
Kemira Oyj's Annual General Meeting was held in Helsinki on April 8, 2009. The meeting was attended by 394 shareholders either in person or by proxy, together representing around 64% of the shareholders' votes. The documents related to the AGM are available on Kemira's website www.kemira.com > About us > Corporate Governance > Annual General Meeting.
The AGM elects the Chairman, Vice Chairman and other members of the Board of Directors. In accordance with the Articles of Association, the Board of Directors comprises 4–8 members. On April 8, 2009, the AGM elected seven Board members. The AGM reelected members Elizabeth Armstrong, Juha Laaksonen, Pekka Paasikivi, Kaija Pehu-Lehtonen, Jukka Viinanen and Jarmo Väisänen to the Board of Directors and Wolfgang Büchele was elected as a new member. Pekka Paasikivi was elected to continue as the Board's Chairman and Jukka Viinanen as the Vice Chairman.
All of the Board members are independent of the Company. Of the Board members, Chairman of the Board, Pekka Paasikivi, is the Board Chairman of Oras Invest Oy. Jarmo Väisänen is employed by the Government of Finland in the Ownership Steering Department of the Prime Minister's Offi ce. Oras Invest Oy and Solidium Oy, 100% of which is owned by the Government of Finland, each own over 10% of Kemira Oyj's shares.
The personal information concerning the members of the Board of Directors can be found in the section Personal data and their holdings can be found below under the heading Insiders' shareholdings.
According to the Articles of Association, the Board of Directors is tasked with duties within its competence under the Companies Act. It has drawn up a written Charter defi ning its key duties and procedures. The following is a description of the essential contents of the Charter.
The Board of Directors is in charge of Corporate Governance and the due organization of the Company's operations. It decides on convening and prepares the agenda for the shareholders' meeting and ensures the practical implementation of decisions taken thereby. In addition, the Board of Directors decides on authorizations for representing the Company.
The Board of Directors' key duties include matters which, in view of the scope and type of the Company's operations, are uncommon or involve wide-ranging effects. These include establishing the Company's long term goals and the strategy for achieving them, approving the annual business plans and budget, defi ning and approving corporate policies in key management control areas, approving the Company's organizational structure and appointing the Managing Director, his deputy and members of the Group Management Boards. The Board of Directors approves the Company's investment policy and major investments and divestments. It also approves the group treasury policy and the major long term loans and the guarantees issued by the Company.
The Boards' duties include ensuring that the Company has adequate planning, information and control systems and resources for monitoring result and managing risks in operations. The Board of Directors monitors and evaluates the performance of Managing Director, his deputy and members of the Group Management Boards and decides upon their remuneration and benefi ts. The Boards' duty is to ensure continuation of the business operations by succession planning for key persons. The Board defi nes and approves the main principles for the incentive bonus systems within the Company.
The Board of Directors also manages other tasks within its competence under the Companies Act. It is responsible for the due organization of the supervision of the Company's accounting and asset-liability management. The Board of Directors sees to it that the Company's fi nancial statements give a true and fair view of the Company's affairs and that the consolidated fi nancial statements are prepared under the International Financial Reporting Standards (IFRS) and the parent company's fi nancial statements under the acts and regulations in force in Finland (FAS). The Board of Directors' meetings discuss the Company's profi t performance at monthly level. The Board of Directors discusses the Company's audit with the auditor. The Board of Directors evaluates its performance and working methods on an annual basis.
In 2009, the Board of Directors met 13 times. The average attendance rate at the meetings was 96,7%.
Based on the decisions of the 2009 AGM, Board members are entitled to a monthly fee and a fee per meeting. Compensation for travel expenses is based on the Company's Travel Policy. The monthly fee payable to the Board Chairman is EUR 5,500, with EUR 3,500 payable to the Vice Chairman and EUR 2,800 to other members. In addition, members living in Finland are entitled to a fee of EUR 600 per meeting, while those living elsewhere in Europe receive EUR 1,200 and non European Board members EUR 2,400. Those attending Board committee meetings are also entitled to a fee per meeting. The Board members are not included in Kemira Oyj's share-based incentive plan.
Kemira Oyj's Board of Directors has appointed three committees: the Audit Committee, the Compensation Committee and the Nomination Committee.
The Audit Committee works in accordance with its Charter confi rmed by the Board of Directors. It is tasked to assist the Board of Directors in fulfi lling its oversight responsibilities for fi nancial reporting process, the system of internal control, the audit process and Kemira's
process for monitoring compliance with laws and regulations and the Kemira Code of Conduct.
The Audit Committee consists of members independent of the Company, elected by the Board of Directors from amongst its members. The Audit Committee is chaired by Juha Laaksonen and has Jarmo Väisänen and Kaija Pehu-Lehtonen as members. The Audit Committee met 5 times in 2009 with an attendance rate of 100%. The Committee reports to the Board of Directors on each meeting.
The Compensation Committee consists of members independent of the Company, elected by the Board of Directors from amongst its members. The Board of Directors has approved a Charter for the Committee, according to which the Committee assists the Board of Directors by preparation of matters related to compensation of Managing Director, his deputy and the members of the Group Management Boards, by preparation of matters pertaining to the compensation systems and long-term incentive plans of the Company, by preparation of matters relating to appointment of Managing Director, his deputy and the members of the Group Management Boards. The Committee also monitors succession planning of the senior management and the senior
management's performance evaluation.
The Compensation Committee is chaired by Pekka Paasikivi and has Jukka Viinanen and Kaija Pehu-Lehtonen as members. In 2009, the Compensation Committee met 3 times. The average attendance rate at the meetings was 100%. The Committee reports to the Board of Directors on each meeting.
In accordance with the decision of the Board of Directors, made on April 8, 2009, the Nomination Committee's task is to prepare a proposal for the AGM concerning the composition and remuneration of the Board of Directors.
In deviation of recommendation 22 of the Finnish Corporate Governance Code, the Nomination Committee primarily consists of members outside the Company's Board of Directors. According to the view of the Company's Board of Directors, it is in the best interest of the Company and its shareholders that the biggest shareholders participate in preparing nomination and compensation issues related to the Board of Directors.
The committee comprises of the representatives of the three largest shareholders of Kemira Oyj based on the situation on May 31, 2009, and the Chairman of Kemira Oyj's Board of Directors acts as an expert member. The members of
| EUR | 2009 | 2008 |
|---|---|---|
| Pekka Paasikivi, chairman | 75,000 | 73,219 |
| Jukka Viinanen, vice chairman | 50,400 | 40,768 |
| Elizabeth Armstrong | 60,000 | 66,555 |
| Wolfgang Büchele (since April 8, 2009) | 34,100 | - |
| Juha Laaksonen | 43,200 | 42,905 |
| Ove Mattsson (until April 8, 2009) | 17,640 | 53,355 |
| Kaija Pehu-Lehtonen | 43,800 | 42,305 |
| Jarmo Väisänen | 43,800 | 34,174 |
| Total | 367,940 | 353,281 |
the Nomination Committee are Jari Paasikivi, President and CEO, Oras Invest Oy, Kari Järvinen, Managing Director of Solidium Oy, Risto Murto, Chief Investment Offi cer, Varma Mutual Pension Insurance Company and the Chairman of the Board of Directors Pekka Paasikivi as an expert member.
The Nomination Committee met 1 time in 2009 with an attendance rate of 100%. In addition, the Nomination Committee that was assembled by Kemira Oyj's Board of Directors on December 18, 2008 in order to prepare a proposal for the 2009 AGM concerning the composition and remuneration of the Board of Directors, met 1 time in 2009 with an attendance rate of 100%.
The Board of Directors appoints the Managing Director and the Managing Director's Deputy. Under the Articles of Association, the Managing Director is responsible for managing and developing the Company in accordance with the instructions and regulations issued by the Board of Directors, ensuring that the Company's interests are served by the subsidiaries and associated companies under its ownership, and puts the decisions taken by the Board of Directors into effect. The Managing Director reports to the Board on fi nancial affairs, the business environment and other signifi cant issues. The Managing Director also functions as the Chairman of Kemira's Strategic Management Board and Business Management Board. Harri Kerminen acts as the Managing Director of Kemira Oyj. The Deputy Managing Director is CFO Jyrki Mäki-Kala. The Managing Director and the Managing Director's Deputy, including their related parties, are not involved in any substantial business relationships with the Company.
The personal information concerning the Managing Director and the Deputy can be found in the section Personal data and their holdings can be found below under the heading Insiders' shareholdings. The fi nancial benefi ts related to the Managing Director's employment relationship are described in the section Management Compensation.
Kemira's management consists of two Group Management Boards. The Business Management Board concentrates on the operative steering of the business and the Strategic Management Board is responsible for the strategy implementation.
The Business Management Board consists of the Managing Director, CFO, and the Presidents of the Paper, Municipal & Industrial and Oil & Mining segments. The Chairman of the Board is the Managing Director.
The personal information and areas of responsibility of the Business Management Board members are presented in the section Personal data and their holdings can be found below under the heading Insiders' shareholdings.
The Strategic Management Board consists of the members of the Business Management Board and the 4 Region Heads of EMEA, North America, South America and APAC, and the function heads of Supply Chain Management, R&D and Technology, Group General Counsel, Marketing and Communications, and HR.
The personal information and areas of responsibility of the Strategic Management Board members are presented in the section Personal data and their holdings can be found below under the heading Insiders' shareholdings.
The Board of Directors determines the Managing Director's and his deputy's, and the Group's management board members' salaries and other remuneration, and employment terms.
Managing Director Harri Kerminen is entitled to retire at the age of 62 and his maximum pension accounts for 66% of his pensionable earnings. This opportunity is based on the benefi ts provided by the Company pension fund, closed to new members since January 1, 1991. A six-month period of notice applies to the Managing Director. The Managing Director will receive severance pay equaling his 12–month salary if the Company terminates the employment. The emolument of Kemira Oyj's Managing Director during the fi nancial period was EUR 734,730 including bonuses of EUR 79,278. The Managing Director did not
receive any part of bonuses as Kemira shares.
Management compensation consists of a monthly salary, perquisites and performance based bonuses. Performance-based bonuses are determined by the achievement of Group and business area specifi c performance targets for each fi nancial year. The performance based bonuses consist of cash bonuses and Kemira Oyj shares.
Kemira has two share-based incentive plans in use: one for key personnel and one for the members of the strategic management board. The share-based incentive plans are part of the Group's incentive and commitment schemes. These plans aim at aligning the goals of the Group's shareholders, management and key executives in order to increase the Company's value, motivate key executives and provide them with competitive, shareholding-based incentives. In the share-based incentive plans possible compensations are paid as Kemira shares and in cash for compensating the taxes in accordance with how set targets are met.
Kemira Oyj's Board of Directors made the decision in 2006 to introduce the current share-based incentive plan for key personnel, which is divided into three one-year performance periods: 2007, 2008 and 2009. Any bonuses earned are to be paid out by the end of April in the year following the performance period. Payment of bonuses depends on the achievement of the set fi nancial targets, which for 2009 are gauged on the basis of the operating profi t and the return on capital employed. On December 31, 2009, a total of 65 key employees were involved in the share-based incentive plan. The maximum number of Kemira Oyj shares transferable under the incentive plan is 774,000.
In February 2009, Kemira Oyj's Board of Directors decided to introduce a new share-based incentive plan aimed at Strategic Management Board members. The plan is divided into three one-year performance periods: 2009, 2010 and 2011. Payment of bonuses is based on achieving the set operating profi t target. The program also includes a three-year goal, which is tied to the development of the operating profi t as a percentage of revenue by the end of 2011. The combined value of shares and cash payments paid out in the course of the three-year sharebased incentive plan may not exceed the individual's gross salary for the same period. In connection with founding the new share-based incentive plan directed at Strategic Management Board members, the members were excluded from the share-based incentive plant directed at key personnel.
Shares earned through the share-compensation plans must be held for a minimum of two years following the date of each payment. The shares must be returned to the Company without payment if a person's employment or service with the Company is terminated of his/ her own accord or by the Company within two years of the payment. In addition, members of the Management Board must retain the Kemira Oyj shares obtained through the share-based incentive programs at least to the value of their gross annual salary for as long as they remain in the Management Board.
The shares transferable under the plan comprise treasury shares or Kemira Oyj shares available in public trading.
Kemira Oyj has organized its business into three customer based segments with P/L responsibilities. The Paper segment focuses on serving customer segments in the pulp and paper industry, the Municipal & Industrial segment concentrates on serving customer segments in municipal and industrial water treatment and Oil & Mining focuses on serving customers in the oil, gas and mining industries.
Other businesses are developed as separate units. Kemira's aim to separate the paints and coatings business Tikkurila Oy and list it on NASDAQ OMX Helsinki Ltd once market conditions permit is part of the Group's strategic overhaul. The ChemSolutions unit focuses on serving customers on food and feed markets as well as in the pharmaceutical and chemical industries.
Kemira Oyj's centralized functions are responsible for the exploitation of internal synergies. The functions manage and coordinate certain company-wide functions, such as human resources, legal affairs, logistics, purchasing and sourcing, treasury, risk management, internal audit, fi nance, IT management, R&D, environmental protection and communications. These functions are organized globally and they offer their services to all Kemira businesses.
Geographically Kemira's operations are divided into four regions: North America, South America, APAC and EMEA. The organizations of the geographical regions are responsible for building joint cost effi cient infrastructures for all operations.
Kemira maintains an internal control system to ensure the effectiveness and effi ciency of its operations, including the reliability of fi nancial and operational reporting and compliance with the applicable regulations, policies and practices. Internal control is an integral part of all of Kemira's operations and covers all levels of the Group. The entire Group personnel are responsible for internal control and its effectiveness is monitored by managers as part of operative management.
Kemira's corporate values, Code of Conduct and Group level policies provide the basis for corporate governance and internal control in the Group. The internal policies and the Kemira Code of Conduct have been communicated to all Group staff. The Group also provides training concerning the main policies for people who need to know the policies in question. Every employee has the right and duty to report any violations of the law and the Code of Conduct.
The main components of internal control are the management and organizational culture, risk assessment, control activities, reporting and communication, as well as monitoring and auditing.
Shares
| Board of Directors | 31.12.2009 | 31.12.2008 | Members of the | 31.12.2009 | 31.12.2008 |
|---|---|---|---|---|---|
| Armstrong Elizabeth | 0 | 0 | Management Boards | ||
| Büchele Wolfgang | 0 | not an insider | Boman Petri | 1,297 | 765 |
| Laaksonen Juha | 0 | 0 | Casas de Almeida Hilton | 57,325 | 4 200 |
| Paasikivi Pekka | 988,382 | 790,225 | Grön Johan | 42,587 | 1 301 |
| Pehu-Lehtonen Kaija | 0 | 0 | Hakkila Jukka | 46,102 | 4 113 |
| Viinanen Jukka | 1,250 | 1,000 | Helsky Petri | 54,652 | 0 |
| Väisänen Jarmo | 0 | 0 | Jokinen Päivi | 20,425 | 0 |
| Kerminen Harri | 158,252 | 17 167 | |||
| Kwan Ronald | 53,125 | 0 | |||
| Kylander Håkan | 18,732 | 4 121 | |||
| Melarti Hannu | 60,400 | 5 820 | |||
| Mäki-Kala Jyrki | 61,529 | 5 501 | |||
| Ojanpää Pekka | 60,587 | 4 748 | |||
| Owens Randy | 59,444 | 5 055 | |||
| Salonen Eeva | 13,579 | 0 | |||
| Auditors | |||||
| Pajamo Pekka | 0 | 0 | |||
As provided by the Finnish Securities Markets Act, Kemira Oyj's insiders consist of insiders subject to disclosure requirements, permanent company-specifi c insiders and project specifi c insiders. On the basis of their position, Kemira's insiders subject to disclosure requirements comprise Board members, the Managing Director and the Deputy Managing Director, members of Kemira Oyj's Group Management Boards and the auditor or the chief auditor representing the independent fi rm of public accountants. Kemira Oyj's permanent company-specific insiders comprise certain other persons separately specifi ed by the Group General Counsel.
Kemira Oyj complies with the Insider Guidelines issued by the NASDAQ OMX Helsinki Ltd, according to which insiders should trade in Company shares at a time when the marketplace has the fullest possible information on circumstances infl uencing the value of the Company's share. Accordingly, Kemira Oyj's insiders may not trade in Company shares for 30 days prior to the disclosure of the Company's interim accounts or the release of the fi nancial statements bulletin.
Kemira's Legal function maintains Kemira Oyj's insider register and updates information on the Company's insiders subject to statutory disclosure requirements to be entered in the public insider register of Euroclear Finland Oy. Kemira's insider information is available in the web-based NetSire service maintained by Euroclear Finland Oy.
The table on the previous page shows insider shareholdings in Kemira Oyj on December 31, 2009 and on December 31, 2008. Shareholdings include personal shareholdings and the related-party holdings as well as holdings in companies over which the shareholder exercises control. Up-to-date insider information as well as updated shareholding information can be found on the Company's website at www.kemira.com > About us > Corporate Governance > Insiders.
Kemira Group's internal audit function provides independent appraisal and assurance for the review of operations within the Group in order to support the management and the Board of Directors in fulfi lling their oversight responsibilities. The purpose is to evaluate and contribute to the improvement of risk management, control and governance systems in the Group. The purpose, authority and responsibilities of the unit are defi ned in the Charter of Kemira Group Internal Auditing approved by Kemira Oyj's Board of Directors. Internal auditors have complete and unrestricted access to all Kemira activities. The internal audit function reports to the Board Audit Committee and administratively to the Group General Counsel. Internal audit plans and fi ndings are subject to regular review with the external auditors during the course of the year.
Under the Articles of Association, the Shareholders' meeting elects an audit fi rm as the Company's auditor. The audit fi rm appoints the Principal Auditor, who is an Authorized Public Accountant certifi ed by the Central Chamber of Commerce. The auditor's term of offi ce continues until the next Annual General Meeting after the Auditor's election. The 2009 Annual General Meeting elected KPMG Oy Ab as the Company's auditor, with Pekka Pajamo, Authorized Public Accountant, acting as the Principal Auditor.
In 2009, the audit fee paid to the auditor (KPMG) totaled EUR 1.7 million. In addition, a total of EUR 1.0 million was paid as fees for services unrelated to audit.
Kemira's Board of Directors defi nes the main principles of risk management and approves the Group's risk management policy. The business segments and functions are responsible for identifying, assessing and managing risks involved in their activities. The Group's Risk Management function coordinates and supports risk management.
Kemira's internal control system covers all Group operations, including fi nancial reporting. The internal control activities are carried out in all organizational levels as part of the Group's daily operations.
A more detailed description of risks and risk management can be found on the Company's website at www.kemira. com > About us > Corporate Governance > Risk Management and a general description of Kemira's internal control system can be found above under the heading Internal Control.
The following describes how Kemira's risk management and internal control work in connection with the fi nancial reporting process to ensure that the fi nancial reports published by the Company give essentially correct information of the Company's fi nancial situation.
Kemira's Board of Directors ensures that the Company has suffi cient resources for risk management and control, and that the control has been arranged appropriately and that the fi nancial statements provide correct and suffi cient information of the Company. The Board of Directors is assisted by the Audit Committee in these tasks.
The Managing Director handles the Company's everyday management in accordance with instructions and regulations from the Board of Directors. The Managing Director is responsible for the Company accounting being lawful and that assets are managed reliably.
The Group's CFO is responsible for the general control system of fi nancial reporting. The areas of responsibility between fi nancial administration of the segments and regions have been defi ned precisely. Controlling in segments operates under the segments' business management and analyzes the business processes. Financial administration in the regions is responsible for the functionality of the fi nancial functions' processes and correctness of fi gures in their region. Group level fi nancial functions support, monitor, instruct and offer training to the fi nancial organizations of the segments and regions.
The Group's IT function has a signifi cant role both in fi nancial reporting and internal control, as reporting and many control measures, such as process monitoring are based on IT solutions.
The Internal Audit function including its tasks and areas of responsibility are described more specifi cally under the heading Internal Audit.
EXTERNAL REPORTING
INTERNAL REPORTING TO THE BOARD OF DIRECTORS AND GROUP MANAGEMENT BOARDS
CORRECTNESS OF FINANCIAL RE-
Utilization of fi nancial reporting material
BUSINESS MANAGEMENT SUPPORT
The Group's fi nancial administration is responsible for managing risks related to fi nancial reporting. The risks are identifi ed, assessed and managed in connection with the Group's general risk management process and separately as part of fi nancial administration's own operating processes. For instance the Kemira Business Control Manual compiled and maintained by the Internal Audit function is utilized when recognizing risks.
The Group's fi nancial administration assesses each risk it has recognized related to fi nancial reporting. In its risk analysis, fi nancial administration defi nes to which function or process each risk is related and how the risk would affect the Group's fi nancial reporting if it was to materialize.
The risk assessment is documented and made available to the persons concerned. The Group's fi nancial administration is responsible for risk documentation being comprehensive and up-to-date and that the risks are reassessed annually in connection with the Group's strategy process.
FINANCIAL REPORTING AND CONTROL Kemira follows a uniform accounting and reporting principles based on the International Financial Reporting Standards (IFRS) in all its units. Kemira
Group Financial Manual defi nes in detail the processes of accounting and fi nancial reporting to be applied in all Group companies. The purpose of the Manual is to ensure the reliability of fi nancial reporting and it is approved by the Group's fi nancial administration management board.
The Group has adopted Enterprise Resources Planning (ERP) systems that ensure fast and reliable communication. Subsidiaries report their fi gures from the ERP system to the Group, using a uniform Group reporting system. The fi nancial organizations of the Group, segments and regions check the correctness of the fi gures in the Group reporting system in accordance with the responsibility areas described above.
Proper control of fi nancial administration, fi nancial reporting and accounting processes is a basic requirement for the reliability of fi nancial reporting. The Group fi nancial administration determines the appropriate control functions, the objectives of each control function and how the effectiveness of the control functions is monitored and checked based on a risk analysis it performs. The control functions are described in the above mentioned risk documentation and fi nancial administration is responsible for their practical implementation.
Financial reporting control functions
are performed either continuously as part of the transactions of the company's monitoring processes such as purchasing and sales processes, or alternatively monthly or annually as part of the reporting process.
The personnel of Kemira's fi nancial administration regularly arranges internal meetings and trainings for different personnel groups and exchanges information and experiences concerning for instance reporting and monitoring practices in connection with these meetings. The main instructions and regulations concerning fi nancial reporting, internal control and risk management are available to all employees on the Company intranet.
The functionality of internal control, risk management and reporting systems is constantly monitored as part of daily management of the Company. Each segment, function and region is responsible for implementing internal control, its effi ciency and reliability of reporting within their area of responsibility. The Group fi nancial administration monitors the functionality and reliability of the fi nancial reporting process at Group level. The fi nancial reporting processes are also monitored by the Internal Audit function.
Pekka Paasikivi b. 1944 B.Sc. (Eng.), Board Chairman
Jukka Viinanen b. 1948 M.Sc. (Tech.), Vice Chairman of the Board
Elizabeth Armstrong b. 1947 Ph.D.
member
Wolfgang Büchele b. 1959 Dr. rer. Nat. member (since April 8, 2009)
Juha Laaksonen b. 1952 B.Sc. (Econ.) member
Ove Mattsson b. 1940 Ph.D. member (until April 8, 2009)
Kaija Pehu-Lehtonen b. 1962 M.Sc. (Eng.) member
Jarmo Väisänen b. 1951 Lic.Pol.Sc member
Kari Järvinen b. 1962 M.Sc. (Eng.), MBA, Managing Director, Solidium Oy
Risto Murto b. 1963 Doctor of Economic Sciences, Senior Vice-President, Chief Investment Offi cer, Varma Mutual Pension Insurance Company
PRESIDENT AND CEO, AND THE GROUP MANAGEMENT BOARDS' MEMBERS
Harri Kerminen b. 1951 M.Sc. (Eng.), MBA, Kemira's Managing Director, Chairman of the management boards
Jyrki Mäki-Kala b. 1961 M.Sc. (Econ.), Deputy Managing Director
Petri Boman b. 1966 M.Sc. (Tech.) Executive Vice President, Supply Chain Management
Hilton Casas de Almeida b. 1961 B.Sc. (Chemistry) Region Head for South America
Johan Grön b. 1966 D.Sc. (Chem.Eng.) Executive Vice President, R&D and Technology
Jukka Hakkila b. 1960 LL.M. Executive Vice President, Group General Counsel
Petri Helsky b. 1966 M.Sc. (Chem. Eng.), M.Sc. (Econ.) President, Paper
Jari Paasikivi
b. 1954 M.Sc. (Econ.), President and CEO, Oras Invest Oy
Pekka Paasikivi b. 1944 B.Sc. (Eng.), expert member of the committee
Päivi Jokinen b. 1968 M.Sc. (Econ.) Executive Vice President, Marketing and Communications
Ronald Kwan b. 1957 BA Chemistry Region Head for Asia Pacifi c
Håkan Kylander b. 1953 Studies for M.Sc. (Econ.) Region Head for Europe, Middle East and Africa
Hannu Melarti b. 1953 LL.B Region Head for North America
Pekka Ojanpää b. 1966 M.Sc. (Econ.) President, Municipal & Industrial
Randy Owens b. 1964 B.Sc. MBA President, Oil & Mining
Eeva Salonen b. 1960 M.A. Executive Vice President, Human Resources
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