Changes in the boards of directors of Finnvera and Tesi

On 4 December 2024, Minister of Economic Affairs Wille Rydman announced his decision to change a number of members in the boards of Finnvera Oyj and Finnish Industry Investment Ltd (Tesi). The decision was made on behalf of the State of Finland, which is the sole shareholder of the companies. No general meeting was held.

Following the changes, Jan Vapaavuori will replace Petri Ekman as chair of Finnvera’s board of directors. Moreover, Pia Santavirta, Chief Executive Officer of Tesi, will become a member of Finnvera’s board, replacing Petri Viertiö.

Meanwhile, Andreas Tallberg was selected to chair Tesi’s Board of Directors, with Jacob af Forselles stepping aside. Tiina Korhonen will replace Riku Huttunen, Director General of the Ministry of Economic Affairs and Employment, as vice-chair of Tesi. In addition, Lassi Noponen, Director General of Business Finland, was appointed as a new member of the board at Tesi, replacing Timo Leino.

The changes in the boards of Finnvera and Tesi are part of a broader reorganisation of the administrative branch of the Ministry of Economic Affairs and Employment. The aim is to strengthen the industrial policy role of special financing institutions and improve cooperation between them. This was the first round of appointments.

Cooperation between special financing institutions will be intensified to increase the effectiveness of their activities. The industrial policy role and investment activities of Tesi are currently being reformed in accordance with the principles agreed in the Government Programme. The activities and legislation concerning Finnvera will be reformed to ensure that Finland’s public export financing system will continue to be internationally competitive and able to respond to changes in the global operating environment. 

The reforms are based on the Programme of Petteri Orpo’s Government and the strategic guidelines of the Ministry of Economic Affairs and Employment published in autumn 2024. 

The Ministry of Economic Affairs and Employment would like to thank the chairpersons and members of the previous boards for their valuable work in strengthening the growth and competitiveness of Finnish companies. 

Inquiries: 
Juhapekka Ristola, Director General, Ministry of Economic Affairs and Employment, tel. +358 295 047 399