Board of Directors

Mikael Mäkinen

Valmet Board member since 2019
Chair of the Board since 2019
Chair of the Board's Remuneration and HR Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 9,364 shares

born 1956

Finnish citizen

M.Sc. (Eng.)

Mikael Mäkinen was President, Marine at Rolls-Royce Plc during 2014-2019 and he was also a member of the Rolls-Royce Executive Team. Prior to this, Mäkinen was President of MacGregor during 2012–2014 and President and CEO of Cargotec Corporation during 2006–2012. He held several positions within Wärtsilä Group between 1982–2006.

Chair of the Board:
Corvus Energy (Non-listed company) 2022-
Aker Arctic Technology Inc. (Non-listed) 2021-

Board Member:
SSAB AB (Publicly listed company) 2022-
Finnlines Oyj (Non-listed) 2018-

Relevant past positions of trust:
Stora Enso Oyj, Board Member 2010–2018
Lemminkäinen Corporation, Board Member 2009–2014
ICC Finland, Board Member 2009–2014, Chair of the Board 2011–2012
Technology Industries of Finland, Board Member 2008–2011
Finpro, Chair/Board Member 2009–2011
Glaston Corporation, Board Member 2008–2009
Volvo Penta, Board Member 2005–2008
Delta Sigma, Board Member 2005–2007

Jaakko Eskola

Valmet Board member since 2022
Vice Chair of the Board since 2022
Member of the Board's Remuneration and HR Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 3,472 shares

born 1958

Finnish citizen

M.Sc. (Eng.)

Jaakko Eskola was President and CEO of Wärtsilä Corporation during 2015-2021. Prior to this, Eskola was Senior Executive Vice President and Deputy to the CEO in Wärtsilä in 2013-2015. He was President of Marine Solutions in Wärtsilä in 2016-2015.

Chair of the Board:
Oy HIFK-Hockey Ab (Non-listed company) 2023-
Cargotec Oyj (Publicly listed company) 2022-
Technology Industries of Finland (Non-listed) 2022-
Varma Mutual Pension Insurance Company (Non-listed) 2022-
Suominen Oyj (Publicly listed) 2021-
Enersense International Oyj (Publicly listed) 2021-

Board Member:
Confederation of Finnish Industries (Non-listed) 2022-
Finnish Foundation for Share Promotion (Non-listed) 2017-

Relevant past positions of trust:
Cargotec Oyj, Board Member 2021-2022
Neles Corporation, Chair of the Board 2021–2022
Virala Acquisition Company Oy, Board Member 2021
Ahlström-Munksjö Oyj, Chair of the Board 2020–2021, Board Member 2019–2020

Pekka Kemppainen

Valmet Board member since 2018
Member of the Board's Audit Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 5,417 shares

born 1954

Finnish citizen

Lic.Sc. (Tech.)

Pekka Kemppainen held several positions within KONE since 1984, including Executive Vice President, Service Business during 2010–2017, Executive Vice President & Area Director, Asia Pacific, Hong Kong during 2004–2010, and Senior Vice President, New Equipment Business during 1999–2004.

Board Member:
Bittium Oyj (Publicly listed company)
Junttan Oy (Non-listed company)

Monika Maurer

Valmet Board member since 2018
Member of the Board's Remuneration and HR Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 5,417 shares

born 1956

German citizen

Diploma in Physics and Chemistry, the University of Stuttgart, Germany

Diploma in Pedagogy, State University for Pedagogic, Stuttgart, Germany

Monika Maurer works as the Chief Executive Officer for Radio Frequency Systems (RFS) since May 2019. She was previously Chief Operating Officer of Nokia Group and, prior to this, Chief Operating Officer of Nokia’s Fixed Networks Business Group. Maurer held between 2006 and 2016 several positions within Alcatel-Lucent, including Chief Operating Officer, Fixed Networks Business line during 2012–2016, Vice President, Presales EMEA during 2010–2012 and President, Product Attached Services Division 2009–2010. Between 1985 and 2006, Maurer held several positions within Alcatel, among others, President, Fixed Solutions Division 2005–2006 and President, Voice Networks Division 2004.

Board Member:
Atos SE (Publicly listed company) 2024-
Nokia Shanghai Bell, Co. Ltd. (Non-listed company), Vice Chair and member of HR and Remuneration Committee 2017–

Annareetta Lumme-Timonen

Valmet Board member since 2024
Member of the Board's Audit Committee

Independent of the company and not independent of significant shareholders due to role as Investment Director at Solidium Oy

Valmet shareholding: 464

born 1967

Finnish citizen

M.Sc. (Eng.)

D.Sc. (Tech.)

Annareetta Lumme-Timonen is currently Investment Director at Solidium Oy. She is responsible for the Anora, Metso, Stora Enso and Valmet holdings at Solidium. In addition, she manages the corporate responsibility work at Solidium. She has been working at Solidium since 2009. Previously she was working as Investment Manager at 3i Nordic plc between 2000–2007. Prior to that she was Investment Manager at SFK Finance Oy between 1997–2000.

Board Member:
Anora Group Plc (Publicly listed company) 2022-

Relevant past positions of trust:
SSAB, Member of the Board 2020–2021 
Seed Fund Vera Ltd, Member of the Board 2006–2010 
Naps Systems Ltd, Member of the Board 2000–2004 
Uniglass Engineering Oy, Member of the Board 2000–2002 
MAP Medical Technologies Oy, Member of the Board 1996–2002

Annika Paasikivi

Valmet Board member since 2024
Member of the Board's Remuneration and HR Committee

Independent of the company and not independent of significant shareholders due to role as President & CEO of Oras Invest Oy

Valmet shareholding: 331

born 1975

Finnish citizen

B.A.

M.Sc. (Global Politics)

Annika Paasikivi has been working as President & CEO of Oras Invest Oy since 2018. Previously, she served as Chief Operating Officer of Oras Invest from 2011 until 2018 and as Integration Manager of Oras Group Ltd during Oras & Hansa integration 2013–2015. Prior to joining Oras Invest, she served as Chief Operating Officer of Friitala Fashion Oy between 2009–2010 and held various positions at Varova Oy between 2003–2005.

Board Member:
Kemira Oyj (Publicly listed company), Vice Chair of the Board 2022–
Varova Oy (Non-listed company) 2016–

Relevant past positions of trust:
Uponor Oyj, Vice Chair of the Board 2014–2018 and Chair of the Board 2018–2023
Oras Oy, Member of the Board 2012–2014, Deputy Chair of the Board 2014–2022 
Directors’ Institute Finland, Member of the Board 2016–2019 

Anu Hämäläinen

Valmet Board member since 2022
Chair of the Board's Audit Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 3,078 shares

born 1965

Finnish citizen

M.Sc. (Econ.)

Anu Hämäläinen is currently Vice President, Group Finance and Treasury in Kesko Corporation. She has been in this role since 2020. Prior to this she was Vice President, Group Treasury and Financial Services and Support
in Wärtsilä in 2015-2020. She was Vice President, Group Control and Director, Financial Accounting in Wärtsilä in 2008-2015.

Board Member:
Kesko Pension Fund, deputy Board member (Non-listed company) 2023-
Vähittäiskaupan Tilipalvelu VTP Oy (Non-listed) 2021-
Finnish Fund for Industrial Cooperation Ltd. (FINNFUND) (Non-listed) 2019-

Relevant past positions of trust:
Neles, Corporation Member of the Board 2020-2022
Outotec, Board Member 2019-2020
Fingrid Oyj, Board Member 2016-2020
Glaston Oyj, Board Member 2012-2019

Per Lindberg

Valmet Board member since 2021
Member of the Board's Audit Committee

Independent of the company and independent of significant shareholders

Valmet shareholding: 2,473 shares

born 1959

Swedish citizen

M.Sc. Mechanical Engineering
PhD, Industrial Management and Economics

Per Lindberg is currently Senior Advisor at Peymar Holding AB. Previously he served as
President and CEO of Epiroc AB between 2018–2020. Prior to that he was President and CEO of BillerudKorsnäs AB between 2012–2017, President and CEO of Billerud AB 2005–2012, and President of Korsnäs AB 2001–2005. He was Vice President at Investment AB Kinnevik between 2004–2005 and did management consulting at Applied Value Corporation in Chicago in 1997–2001. Between 1990–1997, Lindberg was an Associate professor at Chalmers University of Technology in Gothenburg.

Chair of the Board:
Nordic Brass Gusum AB (Non-listed company) 2021-
Permascand AB (Non-listed company) 2020–

Board Member:
Vattenfall AB (Non-listed) 2023-
Boliden AB (Publicly listed) 2021-
ReOcean AB (Non-listed) 2020–

Relevant past positions of trust:
Middlepoint AB 2011–2020
Nordstiernan AB 2014–2017
Bergvik Skog AB 2015–2017
SP AB 2013–2014
YKI AB 2010–2012
Acando AB 2006–2009

Juha Pöllänen

Personnel representative since 2021

born 1968

Finnish citizen

Carpenter

Chief shop steward

Personnel representative Juha Pöllänen will participate as an invited expert in meetings of the Board of Directors. He has worked for Valmet since 1998.