7. Company management

Fingrid holds key responsibility for the transmission of electricity in Finland’s main grid and thereby for society’s ability to function. In its operations, Fingrid complies with the applicable legislation and international conventions as well as the principles approved by the Board of Directors and the policies approved by the President & CEO and discussed by the executive management group. Fingrid’s Code of Conduct is published on the company’s website.

The primary duty of Fingrid’s executives is to ensure that the company’s basic tasks are managed efficiently. The operations are based on meeting the needs of customers and society, taking into account the obligations laid down in the articles of association, shareholder agreements, electricity system license and Electricity Market Act. 

Fingrid’s operations are managed in a matrix of four perspectives. These are: customers and society, finance, internal processes (adequacy of the transmission system, system operation and promoting the electricity market), and personnel and expertise.

The operational organisation has been organised into functions. The heads of the functions make up the executive management group of the company. The Board of Directors approves the basic organisation of the company on the level of functions.

Significant special tasks are separated and organised as necessary in a separate company. Such tasks include e.g. special electricity market services, such as the management of peak load capacity and taking care of the guarantees of origin for electricity, which are carried out by Finextra Oy, a wholly owned subsidiary of the parent company Fingrid. Another subsidiary wholly owned by the parent company Fingrid, Fingrid Datahub Oy, is in charge of providing the electricity markets’ centralised data exchange service and related services to electricity market parties and is responsible for the management of the registered information required by the electricity market and the development of these functions.

7.1 Executive management group

The executive management group supports the President & CEO. Its tasks are:

  • to define, communicate, implement and follow up the strategy,
  • to draw up an action plan and budget,
  • to implement financial control and risk management,
  • to implement resource planning, procurement and control,
  • to implement external communications and stakeholder dialogue,
  • to prepare matters for the Board of Directors and
  • to develop the work of the executive management group.

Each member of the executive management group is responsible for the day-to-day business operations of the organisation in his or her area of responsibility 
and for implementing operative decisions. 

In addition to Jukka Ruusunen, President & CEO, the executive management group in 2019 consisted of:

  • Kari Kuusela, M.Sc. (Tech.), born in 1955, Executive Vice President, Asset Management (until 31 July 2019) 
  • Jussi Jyrinsalo, Licensiate in Technology, born in 1964, Senior Vice President, Transmission System Services and Grid Planning,
  • Timo Kiiveri (M.Sc., MBA), born in 1967, Senior Vice President, Asset Management (as of 31 July 2019) 
  • Marina Louhija, LLM, born in 1968, General Counsel, Legal and Administrative Affairs 
  • Tiina Miettinen, M.Sc. (Politics), M.Sc. (Knowledge Management), born in 1963, Senior Vice President, HR and Communications 
  • Jan Montell, M.Sc. (Finance), born in 1968, Chief Financial Officer (CFO) 
  • Reima Päivinen, M.Sc. (Tech.), born in 1958, Senior Vice President, Power System Operations 
  • Asta Sihvonen-Punkka, Licentiate in Economics, M.For, born in 1962, Executive Vice President (since 31 July 2019), Senior Vice President (until 31.7.2019), Markets
  • Kari Suominen, M.Sc. (Tech.), MBA, born in 1964, Chief Information Officer (CIO). 

The members of the executive management group do not own Fingrid shares nor do they have share-based rights in Fingrid or in a company that belongs to the same group as Fingrid. 

The executive management group convened 15 times in 2019.