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Solidium’s Managing Director to leave his position

21.10.2016

Solidium’s Managing Director, Kari Järvinen, will leave his position as the Managing Director of Solidium in 2017. The decision to change the Managing Director was made by Solidium’s Board of Directors in agreement with Kari Järvinen. Mr. Järvinen will leave the duties of the Managing Director on 31st July 2017. Järvinen will continue his work as the operative Managing Director of Solidium until 31st January 2017, after which he will act as an advisor to Solidium until the end of July 2017. The process of hiring a new managing director will start immediately.

Kari Järvinen has held the position of Managing Director from the beginning of Solidium’s operations in 2009.

“As the Managing Director of Solidium I have had the opportunity to establish and develop a new way to manage Finnish ownership in publicly listed companies. In Solidium, we have succeeded in building a model for long-term ownership where we have been engaged in the development of the companies we own and to which our owner has been committed. A new phase in Solidium is now starting. My work in Solidium will still continue, however, I would already like to take the opportunity to thank the highly professional and committed personnel of Solidium for their important work and contribution, says Kari Järvinen”.

Solidium’s Chairman of the Board, Harri Sailas, regards the contribution and development  done by Kari Järvinen significant.

“The State has during Kari Järvinen’s spell successfully adopted a new way of managing the ownerships in listed companies. I would like to thank Kari Järvinen for his excellent contribution to Solidium over the years. Solidium will continue its fundamental task as an active owner in significant Finnish listed companies. The Ministerial Committee on Economic Policy has in September approved the new Guidelines of Solidium. A new strategy will be formulated for Solidium. At this moment it is natural to change the Managing Director” says the Chairman of the Board, Harri Sailas.

Further information: Harri Sailas, Chairman of the Board, call-back requests, Inka Virtanen, tel. +358 (0)10 830 8901

Solidium is a limited company wholly 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 term. The basis and core objective of Solidium’s strategy is proper, value-enhancing asset management of its current holdings. Through its stakes, Solidium is a minority owner in twelve listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec, Sampo, SSAB, Stora Enso, Talvivaara Mining Company, Telia Company, Tieto and Valmet. The market value of Solidium’s equity holdings is approximately 7.3 billion euros at the date of this press release. Further information: www.solidium.fi/en

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