Board of Directors

Composition

According to Tokmanni Group’s Articles of Association, the company’s Board of Directors consists of three to eight members. Their term of office runs until the end of the Annual General Meeting immediately following the meeting in which they were elected. The Annual General Meeting elects the Chair and other members of the Board.

The Nomination Board prepares proposals for the nomination and remuneration of Board members for the Annual General Meeting. In addition to the candidates’ competence and personal qualities, the Board assesses their cooperation abilities and ability to proactively support and challenge the executive management in a constructive manner.

The invitation to the Annual General Meeting includes a suggestion for the composition of the Board. In addition, a proposal for the composition of the Board submitted by shareholders who represent at least 10% of the votes provided by the shares in the company is included in the invitation, provided that the suggested candidates have given their consent, and the proposal is submitted to the company in a timely manner in order to be included in the invitation.

After the invitation to the meeting has been published, the candidates are announced separately in a similar manner. Tokmanni Group publishes the candidates' personal information, key work experience and positions of trust on its website in connection with the invitation to the general meeting.

Independency

According to Recommendation 10 of the Finnish Corporate Governance Code, the majority of the members of the Board must be independent of the company and at least two of the members who are independent of the company must also be independent of its major shareholders.

The Board of Directors assesses the independence of its members annually and updates its assessments when necessary. The members of the Board of Directors are obliged to provide the necessary information to the Board of Directors for the assessment of independence.

The Board of Directors conducted the assessment of independence. Based on the assessment of independence, the Board of Directors considers the majority of the members of the Board to be independent of the company. The Board members, with the exception of Seppo Saastamoinen, are deemed to be independent of the company and the company’s major shareholders.

The member of Tokmanni Group Corporation’s Board of Directors, Seppo Saastamoinen served as the Deputy CEO of Tokmanni from 2003 to 2006, among other things. He also founded discount retailers Maxi-Makasiini and Maxi-Kodintukku, which were later incorporated into Tokmanni and has served as member of the Board of Directors of Tarjousmaxi, which was part of the Group. Saastamoinen has shareholdings in Takoa Invest Oy, which owned 10,844,688, or 18.42% of Tokmanni's shares at the end of 2023. In addition, Jukka Saastamoinen Oy owned 274,000, or 0.47% Tokmanni shares, and Seppo Saastamoinen owns 30% of Jukka Saastamoinen Oy. Mikko Bergman is a member of the Board of Sompa Capital Oy. Sompa Capital Oy owned 40,000 shares, or 0.07% of Tokmanni’s shares at the end of 2023.

Principles concerning diversity

The composition of the Board of Directors should reflect the company’s operations and the markets in which it operates. In order for the Board to work as effectively as possible, its members must have excellent qualifications and sufficiently diverse backgrounds. Tokmanni Group’s principles concerning the diversity of the Board consider experience, broad-based education and competence, as well as gender balance. To achieve the determined targets, the Nomination Board carefully considers the diversity principles when preparing a proposal for the composition of the Board. Diversity and promoting gender equality in the Board is also in the company's interest.

The targets determined in the diversity principles are estimated to have been achieved to a sufficient degree in 2023. The experience, educational background and professional expertise of the members elected to the Board of Directors at the 2022 Annual General Meeting are diverse and multidisciplinary. The Board members have experience in, for example, strategic planning and ensuring the implementation of the strategy, making business acquisitions and arranging financing, supply chain management, finance, sustainable development, marketing, food business and retail. At the end of 2023, two of the six members of Tokmanni Group’s Board of Directors were women. The Board members were aged 55–64.

Photos of the members of the Board of Directors can be downloaded from our media bank, which can be accessed from this page.

Seppo Saastamoinen

Chairman of the Board

Seppo Saastamoinen

Chairman of the Board, Tokmanni Group Corporation

Chairman of the Board since 2018
Member of the Board since 2013
Not independent of the company and its major shareholders

b. 1960
Finnish nationality
Diploma in Business Administration

Primary work experience:

• Board Professional, 2007–
• CEO and one of the Founders, Takoa Invest Oy, 1987–
• Deputy CEO, Tokmanni, 2006–2007
• Founder and Member of the Board, Tarjousmaxi, 2003–2006
• Founder and CEO, Maxi-Makasiini and Maxi-Kodintukku, 1978–2003

Other key positions of trust:

• Member of the Board, Wello2, 2018–
• Chairman of the Board, Jukka Saastamoinen Oy, 1988–
• Chairman of the Board, Takoa Invest Oy, 1987–

Erkki Järvinen

Vice Chairman of the Board

Erkki Järvinen

Vice Chairman of the Board, Tokmanni Group Corporation

Member of the Board since 2018
Independent of the company and its major shareholders

b. 1960
Finnish nationality
M.Sc. (Econ.)

Primary work experience:

• Board Professional, 2023–
• President and CEO, Oy Snellman Ab, 2018–2023
• CEO, Tikkurila Oyj, 2009–2018
• CEO, Rautakirja Oy, 2001–2008
• Senior Vice President, Rautakirja Oy, Kiosk Trade, 1997–2001
• Marketing Manager, Oy Karl Fazer Ab/Fazer Bakery, 1984–1990
• Marketing Director, Cultor Oyj/Vaasanmylly Oy, 1990–1997
• CEO, Siljans Knäcke Ab, Rättvik, Sweden, 1995–1997

Other key positions of trust:

• Industry Adviser, MCF Corporate Finance Oy,  2023–
• Member of the Board, Fodelia Oyj, 2024–

Mikko Bergman

Member of the Board

Mikko Bergman

Member of the Board, Tokmanni Group Corporation

Member of the Board since 2023
Independent of the company and its major shareholders

b. 1967
Finnish nationality
M.Sc. (Construction Engineering), MBA

Primary work experience:

• Managing Director and Chairman or Member of the Board, Summa Capital Oy, 2003-
• Managing Director and Chairman or Member of the Board, Sompa Capital Oy, 1993-
• Director, Corporate Finance, Alfred Berg/ ABN Amro, 2001-2003
• Associate, Investment Banking, Deutsche Bank, London, 1998-2001
• CFO and Production Manager, Heinolan Seinälinja Oy, 1993-1996

Other key positions of trust:
• Chairman of the Board, Titanium Oyj, 2022-
• Chairman of the Board, Vivo Hoiva Group Oy, 2022-
• Member of the Board, Cablecrew Oy, 2022-
• Member of the Board, Maatio Oy, 2021-
• Chairman of the Board, Viacap Oy 2019-
• Member or Vice Member of the Board, Cobbleyard Real Estate Oy, 2016-

Ulla Serlenius

Member of the Board

Ulla Serlenius

Member of the Board, Tokmanni Group Corporation

Member of the Board since 2020
Independent of the company and its major shareholders

b. 1967
Finnish nationality
Master of Science (MSc), Machine/Materials Engineering

Primary work experience:

• SVP, Helsinki-Vantaa Airport, 6 February 2020–
• President, Living Business Area, Fiskars Group, 2018–2019
• SVP, Supply Chain, Living Business Area, Fiskars Group, 2017–2018
• VP, Supply Chain, Business Region Europe, Fiskars Group, 2014–2016
• VP, Supply Chain, Home Business Area, Fiskars Group, 2014
• Co-founder and CEO, Lettijeff Advisory
- various Interim Management positions at Fiskars Group, 2011–2014
• Head of Espoo Factory, Nokia Networks/Nokia Siemens Networks, 2007–2008
• Director, Espoo Plant, Nokia Networks/Nokia Siemens Networks, 2003–2007 
• Plant Manager, Espoo, Nokia Networks/Nokia Siemens Networks, 2002
• Plant Manager, Microwave Radios, Espoo, Nokia Networks/Nokia Siemens Networks, 1999–2001
• Global Sourcing Manager, Nokia Networks/Nokia Siemens Networks, 1997–1999

Eja Tuominen

Member of the Board

Eja Tuominen

Member of the Board, Tokmanni Group Corporation

Member of the Board since 2024
Independent of the company and its major shareholders

b. 1965
Swedish and Finnish nationality
M.Sc. (Econ.)

Primary work experience:

• CEO, SAMS, Norway, 2023–
• Country Commercial Director (2019–2022), IKEA AS, Norway
• Business Process Developer (2017–2019), Business Transformation Manager (2014–2017) and Commercial Director (2009–2013), Inter-IKEA Range and Supply, Sweden
• Chief Marketing Officer (2007–2009) and Department Store Director (2005–2007), IKEA Oy, Finland
• Commercial Manager / Retail Manager (2001–2004), Product Range and Category Manager (1994–2000) and several positions throughout the value chain, from marketing to Product Manager (1988–1993), Kesko Oyj, Finland

Other key positions of trust:

• Board Member, Löfbergs, 2024–
• Board Member, Mobility Solutions AS, 2024–
• Board Member, Vieser Oy, 2023–

 

Harri Sivula

Member of the Board

Harri Sivula

Member of the Board, Tokmanni Group Corporation

Member of the Board since 2012
Independent of the company and its major shareholders

b. 1962
Finnish nationality
M.Sc. (Admin)

Primary work experience:

• Board Professional, 2018–
• Interim CEO, Tokmanni Group Corporation, 2017–2018
• CEO, GS1 Finland Oy, 2015–2017
• CEO, Restel Oy, 2011–2014
• CEO, Onninen Oy, 2006–2010
• Deputy Managing, Director and Division Director, Kesko Foods, Kesko Oyj, 1987–2006

Other key positions of trust:

• Member of the Board, Pyroll Pakkaukset Group Oy, 2022–
• Member of the Board, KH-Group Plc, 2022–
• Chairman of the Board, Indoor Group Oy, 2020–
• Member of the Board, Kamux Corporation, 2017– (Chairman of the Board 2020–2023)