Board of Directors

The Board of Directors is responsible for the company’s governance and the appropriate organisation of the company’s operations. The Board of Directors is responsible for ensuring that the monitoring of accounting and asset management has been organised appropriately. It also appoints the President and CEO, the Chief Operating Officer and the Executive Group members and decides on their remuneration. The Board of Directors shall head the company in a professional manner, according to sound and prudent business principles and principles of reliable governance.

The Supervisory Board elects the Board of Directors’ members, whose maximum number is 14. At least a third of the members must be elected from among the persons nominated by the key central organisations representing employees. At least a sixth of the members must be elected from among the persons nominated by the key central organisations representing employers. In its policy concerning the election and diversity of the Board of Directors, the Supervisory Board has outlined the requirements that the Board of Directors must meet. The diversity of the Board of Directors is examined as a whole. The composition of the Board of Directors must meet regulatory requirements and ensure the efficient performance of the Board’s duties. The objective is to have both genders represented on the Board of Directors.

The term of office of the members of the Board of Directors is three years. The term of office begins at the close of the first Annual General Meeting following the election and ends at the close of the fourth Annual General Meeting following the election. A maximum of a third of the Board of Directors’ members are due to resign each year.

The Board of Directors annually elects a chairperson and two deputy chairpersons from among its members. Either the chairperson or one of the deputy chairpersons shall be a person nominated by representatives of the insured. If the person nominated by the representatives of the insured is not elected as the chairperson, this person shall act as the primary deputy to the chairperson.

The Board of Directors has two committees: the Nomination and Compensation Committee and the Audit and Risk Management Committee The Board of Directors annually elects the members of the committees from among its members.

The Nomination and Compensation Committee prepares matters related to remuneration and incentive systems and the management’s nomination and remuneration to be discussed by the Board of Directors.

The Audit and Risk Management Committee assists the Board of Directors in supervision tasks and prepares for the Board of Directors matters that concern financial reporting, risk management, investment operations, internal control and the work of the internal audit unit and external auditors.

Ilmarinen’s Board of Directors

Chairman

Pasi Laine
b. 1963, M.Sc. (Eng)
Member since 2019, Chairman since 2020
Term expires in 2026

Deputy chairmen

Jarkko Eloranta, b. 1966
President, The Central Organization of the Finnish Trade Unions SAK
Member since 2017
Term expires 2026

Jyri Häkämies, b. 1961
Director General, Confederation of Finnish Industries EK
Member since 2012
Term expires 2025

Members

Minna Ahtiainen, b. 1974
Director, Collective Bargaining and Representation of Interests, STTK
Member since 2023
Term expires in 2027

Tomi Hyryläinen, b. 1970
Chief Financial Officer, Tietoevry Corporation
Member since 2024
Term expires in 2027

Pia Kalsta, b. 1970
CEO, Sanoma Media Finland Ltd
Member since 2024
Term expires in 2027

Tero Kiviniemi, b. 1971
President and CEO, Destia Plc
Member since 2018
Term expires in 2025

Leena Laitinen, b. 1970
President and CEO, Alko Inc.
Member since 2018
Term expires in 2025

Hannakaisa Länsisalmi, b. 1970
Chief Human Resources Officer, OP Financial Group
Member since 2024
Term expires in 2027

Jyrki Ojanen, b. 1969
Vice Prisedent, The Finnish Construction Trade Union
Member since 2023
Term expires in 2025

Seppo Parvi, b. 1964
Member since 2018
Term expires in 2026

Samu Salo, b. 1976
President, the Union of Professional Engineers in Finland
Deputy member since 2018, member since 2020
Term expires in 2026

Nomination and Compensation Committee

• Pasi Laine (Chairman)
• Jarkko Eloranta
• Jyri Häkämies

Audit and Risk Management Committee

• Seppo Parvi (Chairman)
• Tomi Hyryläinen
• Pia Kalsta
• Jyrki Ojanen

Information on the activities of the Board of Directors and its committees

More information on the activities of the Board of Directors and its committees is available here (in Finnish).