New members elected to Varma’s Board of Directors

2.12.2016

In its meeting on 1 December 2016, Varma's Supervisory Board elected three new members to the company's Board of Directors.

The new members elected to the Board effective 1 January 2017 are Pekka Piispanen, Director of Akava ry; Casimir Lindholm, CEO of Lemminkäinen Oyj; and deputy member Eila Annala, Managing Director of PlusTerveys Oy.

The term of the Chairman of Varma's Board of Directors, Berndt Brunow, expires on 31 December 2016. The terms of board member Veli-Matti Töyrylä and deputy member Mikko Ketonen also expire on 31 December 2016.

Of the members whose term is due to expire, Jari Paasikivi, CEO of Oras Invest Oy, and Johanna Ikäheimo, Chairman of the Board of Lappset Group Oy, will remain on Varma's Board of Directors. Of the deputy members whose term is due to expire, Eija Hietanen, Administrative Director of the Central Organisation of Finnish Trade Unions (SAK), and Liisa Leino, Managing Director and Chairman of the Board of Leino Group Oy, will remain on Varma's Board of Directors.

The members of Varma's Board of Directors as of 1 January 2017 are:

Riku Aalto, President, Finnish Metalworkers' Union
Mikael Aro, Senior Industry Expert, Triton
Johanna Ikäheimo, Chairman of the Board, Lappset Group Ltd
Ari Kaperi, Head of Group Risk Management, Nordea Bank AB (publ)
Casimir Lindholm, CEO, Lemminkäinen Oyj
Jyri Luomakoski, CEO, Uponor Corporation
Petri Niemisvirta, CEO, Mandatum Life Insurance Company Ltd
Ilkka Oksala, Director, Confederation of Finnish Industries (EK)
Jari Paasikivi, CEO, Oras Invest Ltd
Antti Palola, President, Finnish Confederation of Salaried Employees (STTK)
Pekka Piispanen, Director, Akava ry
Kai Telanne, CEO, Alma Media Corporation

Deputy members:

Eila Annala, Managing Director, PlusTerveys Oy
Eija Hietanen, Administrative Director, Central Organisation of Finnish Trade Unions (SAK)
Liisa Leino, Managing Director and Chairman of the Board of Leino Group Oy

The Board will select a Chairman and two deputy chairmen from among its members at its next meeting.

The Supervisory Board decided to keep the Board's annual and meeting remuneration the same: The annual remuneration for the Chairman of the Board is EUR 45,000, for the Deputy Chairmen EUR 32,000, for the members EUR 18,000, and for the deputy members EUR 13,000. The remuneration paid for attending each meeting is EUR 600.

Further information:
Leena Rantasalo, Communications Manager, tel. +358 (0)50 300 7980

Varma Mutual Pension Insurance Company is the most solvent earnings-related pension company and largest private investor in Finland. The company is responsible for the statutory earnings-related pension cover of some 860,000 people in the private sector. Premiums written totalled EUR 4.6 billion in 2015 and pension payments stood at EUR 5.2 billion. Varma's investment portfolio amounted to EUR 42.4 billion at the end of September 2016.

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