The Board of Directors

The Board of Directors has overall responsibility for the company’s governance and the appropriate arrangement of its operations. The Board has approved written rules of procedure for itself, which define the matters that must be discussed by the Board. The Board of Directors confirms the principles concerning the company’s strategy, organization, accounting and asset management supervision. It also appoints the CEO, who is responsible for the implementation of the company’s strategy and management of its day-to-day affairs in accordance with the instructions and orders given by the Board.

According to the company’s Articles of Association, the Board of Directors comprises one to nine ordinary members and at least one deputy member, if fewer than three ordinary members are elected to the Board of Directors. The term of office of the members and deputy members of the Board of Directors ends at the end of the Annual General Meeting following their election. The Board elects a Chairperson from among its members.

Vincit Plc does not follow the governance code for Finnish listed companies (Corporate Governance 2020), which applies to companies listed in Nasdaq Helsinki ("Governance Code"), but the Board of Directors has nevertheless evaluated the independence of its members from the company and major shareholders in accordance with the Governance Code. Based on the independent evaluation, all Board members are independent of major shareholders and the company, except Mikko Kuitunen who is dependent on the significant shareholder and the company.

 

Composition of the Board of Directors

Mikko Kuitunen, Chairman

  • b. 1980
  • Member of the Board since 2021

Mikko is a Master of Science in industrial engineering. He served as CEO of Vincit from the company’s founding in 2007 until the end of 2015, and returned to the post on June 1, 2018 until July 31, 2021. Before Vincit was founded, Mikko served in various business development positions in Ionific Oy, Botnia Hightech Oy and Sasken Finland Oy in 2004–2007. He is also an active Board member of several companies.

Total shareholding: directly 1 303 141 shares and indirectly 433 000 shares through Cloudberry Capital Oy

 

Artti Aurasmaa, Vice Chairman

  • b. 1975
  • Member of the Board since 2017

Artti Aurasmaa, M.Sc. (Econ.), is the CEO of Staria Oyj. Before managing Staria Oyj, Artti has served as CEO of Martela Oyj, Ropo Capital Oy, Stella Care Oy and CEO, COO and CFO of 3 Step IT Group Oy. Artti is a member of the Board of Directors of Ropo Capital Oy and Chairman of the Board of Bookers Group Oy.

Total shareholding: 13 741 shares

 

Mervi Airaksinen

  • b. 1980
  • Member of the Board since 2021

MSc(Econ) Mervi Airaksinen is the Managing Director at Microsoft Finland. Before joining Microsoft, she has worked as a Managing Director at IBM Finland, ALSO Finland and Cisco Systems Finland and the Baltics, and as a Development Manager at Elisa. She has board responsibilities at Learning Intelligence Group (Chairman of the Board), Nordic Morning Group (Vice Chairman of the Board), YTK (General unemployment fund), the University of Vaasa and the National Emergency Supply Agency.

Total shareholding: 2 245 shares

Frank Korsström

  • b. 1958
  • Member of the Board since 2022

Frank Korsström, M.Sc.(Tech.), MBA, has had a long career in consulting (SIAR, BCG, Accenture). Until 2020, he worked as Country Director of the Finnish Accenture and Director of the Nordic Countries. Since then, Frank has served as a Senior Advisor as well as a board professional (Hartwall Capital, Ficolo, Rej-Design, Boing Solutions, Trailmaker).

Total shareholding: 1 375

Eka Ruola

  • b. 1970
  • Member of the Board since 2017

Eka Ruola is one of Finland's best-known and most award-winning creative leaders and brand strategists. In his career, he has worked e.g. TBWA \ Helsinki as the corresponding creative director and long-term as the Hasan Group's Group CEO and corresponding creative director. He is currently the main owner of the marketing agency Nitro Group and the corresponding creative director. Ruola also serves on the board of the Finnish Olympic Committee's Markkinointi Oy.

Total shareholding: 2 245 shares

 

Pekka Vähähyyppä

  • b. 1960
  • Member of the Board since 2019

Pekka Vähähyyppä, M.Sc. (Econ.) and eMBA, has served as the CFO of Stockmann Oyj since 2019. Prior to joining Stockmann, he was employed by Finnair Oyj in 2015–2019 as CFO of the company. Before that, he held various financial administration and management positions, including in Stockmann Oyj, the Nordic subsidiaries of Nestlé, OKO-Venture Capital and A-lehdet.

Total shareholding: 2 245 shares

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