Neste changes the chairman of the board: Pasi Laine is proposed to replace Matti Kähkönen

An oil company Liquid chairman of the board Matti Kähkönen is giving up his board position, Neste informs. Neste’s nomination committee will propose his replacement Pass Laineta who is currently on the company’s board.

Kähkönen was born in 1956.

The nomination committee proposes that Laine be re-elected to the board John Abbott, Nick Elmslie, Just Jansz, Conrad Keijzer and Sari Mannonen. New members are proposed Anna Hyvö and Essimari Kairistoa.

According to the release, in addition to Kähkönen, the current board members Johanna Söderström has announced that he is no longer available for the board.

Eeva Sipilä plans to start as Neste’s CFO in May of next year at the latest. He will resign from the company’s board before the annual general meeting, Neste says.

The board’s task is to plan the company’s big lines. One of the most important tasks is hiring and firing the CEO.

Strandberg: The need to update the strategy

Board members of listed companies are often proposed in nomination committees, which usually consist of the listed company’s largest shareholders. Proposals are voted on at general meetings, where the largest shareholders have the most voting power.

Neste’s nomination committee was chaired by the head of the owner steering department of the Government Office May Strandbergoccupational pension insurer Varman investment manager Timo Sallinen and occupational pension insurer Ilmarinen managing director Jouko Pölönen.

“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,” Strandberg commented in the press release.

“The shareholders’ nomination committee wants to do its part to support Neste’s change journey and has made a comprehensive assessment of the board,” Strandberg continues.

He justifies Laina’s election as chairman with his long experience in the technology industry and strong evidence of demanding management positions and working on the board of industrial listed companies.

Laine has worked, for example Metso and At Valmet. He is Ilmarinen and Konecranes chairman of the boards.

Correction 18.12.2024 9:48: Corrected a typo in the name of Konecranes.