The Board of Directors comprises the incumbent President and Group Chief Executive Officer and 9–13 other members appointed by the Supervisory Council. At least four Board members must be independent of the central cooperative and of other Group companies.
The Board of Directors consists of the following members:
Jaakko Pehkonen, b. 1960
Chair of the Board from 1 January 2020
M.Sc. (Econ. & Bus. Adm.), D.Sc. (Econ. & Bus. Adm.), rahoitusneuvos (Finnish honorary title)
Relevant experience:
University of Jyväskylä 1998: Professor of Economics 1998–
University of Jyväskylä 1998: First Vice Rector 2010–2012
University of Jyväskylä 1998: Dean, School of Business and Economics, 1999–2008
Other relevant positions:
OP Financial Group Research Foundation: Chair of the Board of Directors 2013–2019, Member of the Board of Directors 2009–
EduCluster Finland: member of the Board of Directors 2018–, Vice Chair of the Board of Directors 2019–2023, Chair of the Board of Directors 2023–
OP Cooperative: Chair of the Supervisory Board 2013–2019, Member/Vice Chair of the Supervisory Board 2008–2012
OP Keski-Suomi: Chair of the Board of Directors 2014–2019, Member/Vice Chair of the Board of Directors 2008–2014
Jarna Heinonen, b.1965
Vice Chair of the Board from 1 January 2020
M.Sc. (Econ. & Bus. Adm.), D.Sc. (Econ. & Bus. Adm.)
Relevant experience:
University of Turku, School of Economics: Professor in Entrepreneurship 2008–
University of Turku, School of Economics: Deputy Head of Department 2014–2020, Head of Department 2021–
Other relevant positions:
OP Cooperative: Member of the Supervisory Board 2012–2019, Member of the Supervisory Board's Working Committee 2018–2019, Member/Chair of the Supervisory Board's Audit Committee 2012–2018
OP Turun Seutu: Chair of the Board of Directors 2011–2019, Member of of the Board of Directors 2006–2011
TOP Säätiö: Chair of the Board of Trustees 2017–, member of the Board of Trustees 2011–
Matti Kiuru, b. 1963
Board member since 1 January 2024
M.Sc. (Econ. & Bus. Adm.), eMBA
Previous Experience:
OP Länsi-Suomi: Managing Director 2017–
OP Länsi-Suomi: Bank Director/Sales Director 2006–2017
Porin Seudun Osuuspankki: Bank Director/Sales Director 1989–2005
Other relevant positions:
OP Cooperative: Member of the Supervisory Council 2021–2023
Satakunta University Foundation: Vice Chair of the Board of Directors 2017–
Western Finland Diaconia Institute and Diakon Oy: Member of the Board of Directors 2017–
OP’s employer association OPTA ry: Member of the Board of Directors 2021–2023, Chair 2023
Katja Kuosa-Kaartti, b. 1973
Board member since 1 January 2024
M.Sc. (Econ. & Bus. Adm.), Authorised Public Accountant and Auditor, Certified Board Member
Previous Experience:
Tilintarkastus Kuosa-Kaartti Oy: Authorised Public Accountant and Auditor 2014–
Tilintarkastus ja Talouspalvelut Kuosa-Kaartti: Authorised Public Accountant and Auditor 2003–2014
Tokmanni Group Oyj: Financial Manager 2010–2012
Kemppi Group Oy: Various financial management positions, most recently Financial Manager 2002–2010
KPMG Wideri Oy Ab: Auditor 1996–2002
Other relevant positions:
OP Cooperative: Member of the Supervisory Council 2016–2023, member of the Audit Committee of the Supervisory Council 2016–2019
Ylä-Uudenmaan Osuuspankki: Chair of the Board of Directors 2023
Orimattilan Osuuspankki: Chair of the Board of Directors 2013–2022, member of the Board of Directors 2008–2013
OP-Eläkesäätiö pension foundation: Member of the Supervisory Council 2020–2023
OP Bank Group Pension Fund: Chair of the Representative Assembly 2020–2022
Kati Levoranta, b. 1970
Member of the Board from 1 January 2020
LL.M, Trained on the bench, LL.M, MBA
Relevant experience:
P2X Solutions Oy: Executive Vice President,Chief Operational Officer 2023–
P2X Solutions Oy: Executive Vice President, operational and commercial activities 2021–2022
Rovio Entertainment Corporation: Chief Executive Officer 2016–2020
Rovio Entertainment: Chief Legal Officer 2012–2015
Nokia Siemens Networks Oy: Various positions 2007–2012
Nokia Corporation: Legal Counsel 2005–2007
Other relevant positions:
Finavia Corporation: Nember of the Board of Directors 2021–, Chair of the Board of Directors 2022–
Juuri Partners Oy: Member of the Board of Directors 2020–
Central Chamber of Commerce: Member of the Board of Directors 2016–2020
Pekka Loikkanen, b. 1959
Member of the Board from 1 January 2020
M.Sc. (Econ. & Bus. Adm.)
Relevant experience:
PricewaterhouseCoopers Oy: Partner 2000–2020
PricewaterhouseCoopers Oy: Regional Director 1997–2017, Accountant 1988–1992, Authorised Public Accountant (KHT) 1993–2020
Other relevant positions:
BLC Turva Oy: Member of the Board of Directors 2021–
Savonlinna BLC-osuuskunta: Member of the Board of Directors 2022–
KPY Cooperative, member of the Board of Directors and Vice Chair 2022–
Tanhuvaaran säätiö sr: Member of the Board of Directors 2021–
Tero Ojanperä, b. 1966
Member of the Board from 1 July 2020
M.Sc. (Computer Science), Ph.D. (Electrical Engineering)
Relevant experience:
Aalto University, Professor of Practice 2020–
Silo AI Ltd: CEO 2017–2019
Visionplus Fund: Founding Partner, Managing Partner 2012–2017
Nokia Corporation: Executive Vice President, Consumer Internet Services; Chief Technology Officer, Chief Strategy Officer, Member of the Nokia Group Executive Board 2005–2011; Head of Nokia Research Center, Vice President at Nokia Networks, and various other expert and management positions 1990–2004
Other relevant positions:Fintraffic: Chair of the Board of Directors 2021–
Betolar Oy: Chair of the Board of Directors 2020–2023, Vice Chair of the Board of Directors 2023–
Siili Solutions Plc: Member of the Board of Directors 2020–
Silo AI Ltd: Chair of the Board of Directors 2019–2024
DNA Plc: Member of the Board of Directors 2014–2021
Bittium Corporation: Member of the Board of Directors 2017–2019
Veikkaus Ltd: Member of the Board of Directors, 2013–2017
Tampere University of Technology: Chair of the Board of Directors, 2012–2018
Riitta Palomäki, b. 1957
Member of the Board from 1 January 2020
M.Sc. (Econ. & Bus. Adm.)
Relevant experience:
Uponor Corporation: CFO 2009–2017
Kuusakoski Group Oy: CFO 2003–2009
Other relevant positions:
Nordic Waterproofing Holding A/S: Member of the Board of Directors and Chair of the Audit Committee 2016–
OP Cooperative: Member of the Supervisory Board 2017–2019, Member/Chair of the Audit Committee 2017–2019
HKScan Corporation: Member of the Board of Directors and Chair of the Audit Committee 2017–2018
Componenta Corporation: Member of the Board of Directors and Chair of the Audit Committee 2012–2017
Timo Ritakallio, b. 1962
Member of the Board from 1 January 2020
D.Sc. (Tech.), LL.M., MBA
Relevant experience:
OP Financial Group: President and Group Chief Executive Officer 2018–
Ilmarinen Mutual Pension Insurance Company: President and CEO 2015–2018, Deputy CEO 2008–2014
OP Financial Group: various positions 1993–2008
Other relevant positions:
OP Corporate Bank plc: Chair of the Board of Directors 2018–
Pohjola Insurance: Chair of the Board of Directors 2018–
Kesko Corporation: Member of the Board of Directors 2021–
Confederation of Finnish Industries: Member of the Board of Directors and Executive Committee 2020–2021
Central Chamber of Commerce: Member of the Board of Directors 2019–2021, Chair of the Board of Directors 2022–
Finance Finland: Member/Vice Chair of the Board of Directors 2017–2019, 2022–, Chair of the Board of Directors 2020–2021
Finnish Olympic Committee: Chair of the Board of Directors 2016–2020
Securities Market Association: Member/Chair of the Board of Directors 2014–2022
Petri Sahlström, born 1971
Member of the Board from 1 January 2022
M.Sc. (Econ.), D.Sc. (Econ.)
Relevant experience:
University of Oulu: Professor of Accounting and Finance 2005–, Dean 2011–2017, Vice Dean 2010–2011, Head of Department 2008–2011
University of Vaasa: Professor of Accounting and Finance 2003–2005, Head of Department 2003–2005
Other relevant positions:
Oulu Chamber of Commerce: Member of the Economy and Legislation Committee, 2016–, Member of the Audit Committee 2010–2015
OP Cooperative: Member of the Supervisory Council 2020–2021, Member of the Supervisory Board, 2016–2019, Member of the Supervisory Board's Risk Management Committee 2017–2019
Oulun Osuuspankki: Board member 2011–2021, Chair of the Board of Directors 2018–2021
Association of Business Schools in Finland: Chair, 2014–2016
The Finnish Shareholders Association: Board member 2011–2016
Olli Tarkkanen, b. 1962
Member of the Board from 1 January 2020
Master of Laws (LL.M.), eMBA
Relevant experience:
OP Etelä-Pohjanmaa: Managing Director 2010–
OP Iisalmi: Managing Director 2005–2010
OP Etelä-Pohjanmaa: Finance Director 2004–2005
OP Etelä-Pohjanmaa: Area Manager 2003–2004, Bank Lawyer 1999–2003
Other relevant positions:
South Ostrobothnia Chamber of Commerce: Member of the Business and Industry Committee 2016–
OP Cooperative: Second Vice Chair of the Supervisory Board 2016–2019; Member of the Supervisory Board and its Working Committee 2015–2019