Neste, struggling in difficulties, changes its chairman of the board – Pasi Laine takes the place

Deep down The troubled oil company Neste is now also replacing the chairman of the board. The company’s CEO was replaced earlier in the fall.

Acted as chairman until now Matti Kähkönen resigns from his position.

The new chairman is rising Pasi Lainewho is already a member of Neste’s board of directors.

“Lainea has long experience in the technology industry and a strong track record of both demanding management positions and working on the board of industrial listed companies,” says the chairman of the shareholders’ nomination committee, CEO May Strandberg from the Prime Minister’s Office in Neste’s press release.

According to Strandberg, the changed market environment and the uncertainties of the global economy and geopolitical situation are strongly reflected in Neste’s business and create the need to update the strategy and operational priority areas.

“The shareholders’ nomination committee wants to contribute to Neste’s change journey and has made a comprehensive assessment of the board,” says Strandberg in the press release.

The nomination committee’s proposal will be finally confirmed at Neste’s general meeting next year.

Bad With the change of chairman, the management of Neste, which is struggling, is going to be completely new. Served as CEO of the company for only two years Matti Lehmus was allowed to give way earlier this year. New CEO Heikki Malinen started in his position in October.

Pasi Lainea, 61, has a long career behind her, including as CEO of the technology company Valmet. He retired from the position in August.

Kähkönen, who is giving up the position of chairman, has in turn led Neste’s board of directors since 2018. He became a member of the board a year earlier.

The nomination committee nominates a member of the board as vice-chairman of the board John Abbott. In addition, the nomination committee proposes that, in addition to Abbott and Laine, be re-elected to the board Nick Elmslie, Just Jansz, Conrad Keijzer and Sari Mannonen. New members of the board are presented Anna Hyvö and Essimari Kairistoa.

In addition to Matti Kähkönen, the current board members Johanna Söderström has announced that he is no longer available for re-election. Eeva Sipilä on the other hand, will start as Neste’s CFO in May at the latest and will resign from the company’s board before the annual general meeting.

Correction 18.12. 12:59 p.m.: Contrary to what was said earlier in the story, Pasi Laine served as CEO of Valmet until August and not until the beginning of the year.