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Pekka Ala-Pietilä Solidium’s new board chairman

14.2.2011

Solidium Oy's annual general meeting will appoint Pekka Ala-Pietilä, 54, Master of Science (Economics and Business Administration), as the company's new chairman of the board on 4 March 2011. The current chairman, Keijo Suila, 65, will continue in his duties until the annual general meeting.

Pekka Ala-Pietilä has a long career in Nokia Corporation where he worked until 2006. In his last position, Ala-Pietilä served as the company's CEO. At the moment, he is a board member of SAP AG and Pöyry PLC.

"As board chairman, Keijo Suila has made a significant contribution to the setting up and development of Solidium's operations. Pekka Ala-Pietilä's experience in both company management and board practices will provide a sound basis and bring added value to the company in the future", said Jyri Häkämies, Minister responsible for ownership steering of state-owned companies.

"Building up Solidium has been a great and interesting challenge. As I have earlier informed the owner, I am committed to the setting up of the company but do not intend to continue as board chairman after 2011. The company has established its position as a competent and demanding owner and therefore I feel this is the right moment to pass the chairmanship on", said Keijo Suila.

"I find it a very important job to carry on the many-faceted mission of promoting national interests. Solidium provides, in a number of ways, an important instrument to the state. The setting up of Solidium is a proof of a visionary approach and belief in the development of national wealth", said Pekka Ala-Pietilä.


Inquiries: Jyri Häkämies, Minister responsible for ownership steering of state-owned companies, contact Petri Vihervuori, Chief Senior Specialist, Prime Minister's Office, tel. +358 40 487 2623; Keijo Suila, Chairman of the Board, tel. +358 50 375 7822, Pekka Ala-Pietilä, Chairman of the Board (as of 4 March), contact Noomi Lehtosaari +358 10 830 8904


Solidium is a limited company fully owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long run. Investment activities are based on financial analysis. The core of Solidium's investment strategy is proper, value-enhancing asset management of the current holdings. Solidium is a minority owner through its stakes in ten listed companies.

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