Listeds met Joel Huttunen, who has been responsible for successful Nordic brands in both B2B and B2C contexts throughout his career. Based in Denmark, he shares his insights on what Finnish companies can learn about brand building and marketing. “If you want a brand to perform, the first question is whether the organization is truly committed to building it and being brave internally. Brand has to become a leadership tool – and one that leaders actually use.”

Brand is too often seen as a communicative fluffy layer – a surface added to help companies face their customers. That way of thinking is misguided. In reality, a brand should be understood as a business lever and growth driver, a tool that supports leadership and decision-making. This is how Joel Huttunen puts it. Over his 15-year career, he has been responsible for both global and national brands in Finland and Denmark, working in large international companies as well as on the agency side.

Listeds spoke with Huttunen about the role of the brand in driving company growth. 

Denmark is known for its strong design culture, vibrant urban life, and successful brands. This naturally raises the classic question: what can Finland learn from Denmark when it comes to building brands?

Long-term commitment. Huttunen’s answer comes without hesitation. It is an area where both Denmark and Sweden are ahead of Finland.

“In Finland, it’s common to say that Swedes are simply very good at branding and almost just accept it as a natural law. In reality, Finland has exactly the same potential to stand out. The difference is that we don’t commit to long-term brand development in the same way as Sweden and Denmark do. In marketing, there’s a simple rule: ambition and effectiveness start to fade when focus slips.”

For a brand to truly function as a growth driver, companies must commit to repetition and continuity rather than isolated efforts.

Company culture is the brand’s ultimate truth test

What about courage? Courage and risk-taking are not Finland’s natural strengths in the field of branding, and in times of economic uncertainty, bravery is often the first thing to give way to caution and safe choices. How is courage nurtured in Denmark? 

“The key difference, in my view, is that in Denmark there is open discussion about the level of courage across the organization, including at the leadership level. Courage also requires repetition – not just short-lived spikes like individual campaigns,” Huttunen says. “Courage also means saying something that not everyone will like. If a company focuses solely on not upsetting anyone and on saying things everyone wants to hear, it ends up saying nothing at all. That’s the path of jargon, where there is no differentiation and no value creation. Modern audiences are quick to see through this.”

Both courage and long-term thinking are only possible if there is genuine internal commitment to the brand. According to Huttunen, this commitment is often the hardest part.

“I’ve seen many brand transformations driven by the same underlying question: the brand isn’t delivering results right now – could it deliver next year? If you want a brand to perform, the first question is whether the organization is truly committed to building it and being brave internally. Brand has to become a leadership tool – and one that leaders actually use. It’s unnerving how many times I’ve seen senior leadership just waiting to see the new logo, even in the 2020s.”

In Denmark, Huttunen was initially surprised by how little people talked about brands. He quickly understood why. When a brand is truly lived through company culture, there is no need to constantly define it in meetings and steering groups. Brand is not a separate layer of activity; optimally product development, innovation, ways of working, and strategic initiatives all rest on it.

Everything starts with a clearly defined and shared core mission. Across the organization, people understand why the company exists, what it is striving for, and how their own work contributes to the whole. This is where purpose comes in – a word often dismissed as marketing jargon or even treated as a buzzword.

According to Huttunen, purpose is directly linked to how well a brand is understood – and lived internally. Company culture is every brand’s ultimate truth test.

“As a leader, you can deliver the most inspiring speeches and commission a beautifully polished brand from a prestigious London agency, but if your products, actions, decisions, and people don’t reflect what you claim the brand stands for, it simply isn’t true.”

Beyond performance metrics, the big picture still matters

Purpose also accelerates decision-making, Huttunen says. It provides a clear filter: is this at the core of who we are, or not? Does it support our goals, or does it pull us away from them?

“We live in a time when all kinds of issues surface as controversies, and everything gets broken down into parts. Brands must dare to speak – and stand behind what they say. If a company’s purpose never leads to difficult decisions, it’s probably too generic.”

But how should companies evaluate and justify the business impact of their brand?

“Marketing and communications professionals must be able to demonstrate the value of the brand through data, but organizations shouldn’t get lost in numbers alone. When too much emphasis is placed on short-term performance wins, it’s easy to lose sight of what we’re actually trying to build. The big picture and long-term perspective have to be present all the time.”

B2B brands need emotion too

Throughout his career, Huttunen has worked with massive global brands as well as smaller, local companies and businesses at the very beginning of their journey. He has experience in both B2C and B2B contexts. What can they learn from each other?

“Building a B2B brand from scratch is often extremely difficult. It’s easy to fall back on messages that lack differentiation – saying you’re fast, high-quality, and efficient. What is often forgotten, and what B2B can learn from B2C, is that beyond credibility and reliability, a brand also needs emotion. It’s people that make purchasing decisions in B2B as well.”

For Huttunen, brand is ultimately an emotional bond that forms between a company and people over time. Organizational culture, ways of working, communication, outward expression, and products all contribute to building this connection. Once that bond exists, it begins to guide choices and decisions.

Ideally, brand building is supported by both courage and investment. However, large budgets alone are never the solution.

“The fundamental principles of brand building are the same regardless of budget size. When money is limited, the bar for courage and creativity must be raised. Successful brand work requires strong expertise in using different media, as well as an understanding of weak signals and emerging trends. You need to know what your audience wants right now and how your brand connects to the phenomena of the moment. Customer understanding must be deep, and there has to be genuine curiosity about how to turn change into opportunity.”

|

|

Leaders

Finns need to learn long-term brand commitment to drive growth

Finns need to learn long-term brand commitment to drive growth

·

5 min read

Credit: Joel Huttunen

Credit: Joel Huttunen

Listeds met Joel Huttunen, who has been responsible for successful Nordic brands in both B2B and B2C contexts throughout his career. Based in Denmark, he shares his insights on what Finnish companies can learn about brand building and marketing. “If you want a brand to perform, the first question is whether the organization is truly committed to building it and being brave internally. Brand has to become a leadership tool – and one that leaders actually use.”

Brand is too often seen as a communicative fluffy layer – a surface added to help companies face their customers. That way of thinking is misguided. In reality, a brand should be understood as a business lever and growth driver, a tool that supports leadership and decision-making. This is how Joel Huttunen puts it. Over his 15-year career, he has been responsible for both global and national brands in Finland and Denmark, working in large international companies as well as on the agency side.

Listeds spoke with Huttunen about the role of the brand in driving company growth. 

Denmark is known for its strong design culture, vibrant urban life, and successful brands. This naturally raises the classic question: what can Finland learn from Denmark when it comes to building brands?

Long-term commitment. Huttunen’s answer comes without hesitation. It is an area where both Denmark and Sweden are ahead of Finland.

“In Finland, it’s common to say that Swedes are simply very good at branding and almost just accept it as a natural law. In reality, Finland has exactly the same potential to stand out. The difference is that we don’t commit to long-term brand development in the same way as Sweden and Denmark do. In marketing, there’s a simple rule: ambition and effectiveness start to fade when focus slips.”

For a brand to truly function as a growth driver, companies must commit to repetition and continuity rather than isolated efforts.

Company culture is the brand’s ultimate truth test

What about courage? Courage and risk-taking are not Finland’s natural strengths in the field of branding, and in times of economic uncertainty, bravery is often the first thing to give way to caution and safe choices. How is courage nurtured in Denmark? 

“The key difference, in my view, is that in Denmark there is open discussion about the level of courage across the organization, including at the leadership level. Courage also requires repetition – not just short-lived spikes like individual campaigns,” Huttunen says. “Courage also means saying something that not everyone will like. If a company focuses solely on not upsetting anyone and on saying things everyone wants to hear, it ends up saying nothing at all. That’s the path of jargon, where there is no differentiation and no value creation. Modern audiences are quick to see through this.”

Both courage and long-term thinking are only possible if there is genuine internal commitment to the brand. According to Huttunen, this commitment is often the hardest part.

“I’ve seen many brand transformations driven by the same underlying question: the brand isn’t delivering results right now – could it deliver next year? If you want a brand to perform, the first question is whether the organization is truly committed to building it and being brave internally. Brand has to become a leadership tool – and one that leaders actually use. It’s unnerving how many times I’ve seen senior leadership just waiting to see the new logo, even in the 2020s.”

In Denmark, Huttunen was initially surprised by how little people talked about brands. He quickly understood why. When a brand is truly lived through company culture, there is no need to constantly define it in meetings and steering groups. Brand is not a separate layer of activity; optimally product development, innovation, ways of working, and strategic initiatives all rest on it.

Everything starts with a clearly defined and shared core mission. Across the organization, people understand why the company exists, what it is striving for, and how their own work contributes to the whole. This is where purpose comes in – a word often dismissed as marketing jargon or even treated as a buzzword.

According to Huttunen, purpose is directly linked to how well a brand is understood – and lived internally. Company culture is every brand’s ultimate truth test.

“As a leader, you can deliver the most inspiring speeches and commission a beautifully polished brand from a prestigious London agency, but if your products, actions, decisions, and people don’t reflect what you claim the brand stands for, it simply isn’t true.”

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Delivered monthly.

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Beyond performance metrics, the big picture still matters

Purpose also accelerates decision-making, Huttunen says. It provides a clear filter: is this at the core of who we are, or not? Does it support our goals, or does it pull us away from them?

“We live in a time when all kinds of issues surface as controversies, and everything gets broken down into parts. Brands must dare to speak – and stand behind what they say. If a company’s purpose never leads to difficult decisions, it’s probably too generic.”

But how should companies evaluate and justify the business impact of their brand?

“Marketing and communications professionals must be able to demonstrate the value of the brand through data, but organizations shouldn’t get lost in numbers alone. When too much emphasis is placed on short-term performance wins, it’s easy to lose sight of what we’re actually trying to build. The big picture and long-term perspective have to be present all the time.”

B2B brands need emotion too

Throughout his career, Huttunen has worked with massive global brands as well as smaller, local companies and businesses at the very beginning of their journey. He has experience in both B2C and B2B contexts. What can they learn from each other?

“Building a B2B brand from scratch is often extremely difficult. It’s easy to fall back on messages that lack differentiation – saying you’re fast, high-quality, and efficient. What is often forgotten, and what B2B can learn from B2C, is that beyond credibility and reliability, a brand also needs emotion. It’s people that make purchasing decisions in B2B as well.”

For Huttunen, brand is ultimately an emotional bond that forms between a company and people over time. Organizational culture, ways of working, communication, outward expression, and products all contribute to building this connection. Once that bond exists, it begins to guide choices and decisions.

Ideally, brand building is supported by both courage and investment. However, large budgets alone are never the solution.

“The fundamental principles of brand building are the same regardless of budget size. When money is limited, the bar for courage and creativity must be raised. Successful brand work requires strong expertise in using different media, as well as an understanding of weak signals and emerging trends. You need to know what your audience wants right now and how your brand connects to the phenomena of the moment. Customer understanding must be deep, and there has to be genuine curiosity about how to turn change into opportunity.”

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Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

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Authors

Content writer

Anu, a co-founder of the brand and communications agency United Imaginations and former editor-in-chief of Helsingin Sanomat, is our head of content.

Content writer

Anu, a co-founder of the brand and communications agency United Imaginations and former editor-in-chief of Helsingin Sanomat, is our head of content.

Authors

Content writer

Anu, a co-founder of the brand and communications agency United Imaginations and former editor-in-chief of Helsingin Sanomat, is our head of content.

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Latest on Listeds

Leadership Moves

Boreo names Lassi Simola CFO, ending nearly a year of a split finance function

Oct 6, 2026

Boreo has appointed Lassi Simola, currently Workout and Restructuring Executive at Nordea, as Chief Financial Officer and a member of the Group Management Team. He starts no later than 4 January 2027, ending an interim arrangement that has divided the finance role between two people since February.

Boreo brings back a CFO after deciding in February to manage without one

In December 2025, Boreo announced that CFO Jesse Petäjä would step down and said it had started recruiting a successor. In February 2026, it changed course and decided not to appoint a CFO for the time being. Rafael Osmanov became Head of M&A and Financing, and Vice President Finance Sami Hanerva took over financial reporting.

Once Simola starts, Hanerva will report to him in his current role. Osmanov will support the onboarding, and his contract ends by the end of March 2027.

The new CFO and the CEO both come from private equity and consulting dealmaking

Simola has more than 15 years in finance, over 10 of them in private equity, and is a CFA charterholder. Tuomas Kahri, CEO since 1 April 2026, was previously a partner at McKinsey & Company and Intera Partners. The hire is the first CFO appointment under Kahri.

“Lassi brings to Boreo strong expertise in mergers and acquisitions and corporate finance. He has extensive experience working with small and medium-sized companies and possesses an excellent understanding of the challenges and opportunities these businesses face,” says Tuomas Kahri, CEO of Boreo, in the press release.

Boreo has spent 2026 preparing its balance sheet for acquisitions

Boreo grew 2025 net sales by 14% to EUR 153.3 million and operational EBIT by 17% to EUR 8.0 million, and its board proposed no dividend to strengthen the financial position. The April 2026 AGM approved that proposal. First-half 2026 net sales rose 14% to EUR 84.6 million, operational EBIT rose 21% to EUR 4.3 million, and operating cash flow improved to EUR 3.7 million.

The portfolio is moving in both directions. In July, subsidiary Floby Nya Bilverkstad sold its vehicle painting business Lackmästar'n. On 1 October, Boreo bought technical textiles maker TEXpro for an enterprise value of EUR 1.6 million, paid from existing cash.

“With its strengthened financial position and renewed focus on acquisitions, I believe the company is well positioned to pursue its growth strategy,” says Lassi Simola.

TEXpro, with EUR 1.7 million in net sales, shows the scale of Boreo's deals so far this year. A CFO hired for his acquisition record suggests the board expects that scale to grow.

Columnists

Who will build the next shared vision?

Oct 6, 2026

Currently there appears to be a widespread feeling of rising uncertainty and a lack of a shared vision for the future. During Sweden’s recent election campaign commentators repeatedly asked where the larger visions for the country had gone. Amid promises of quick fixes and tactical positioning, the question of what society we should build seemed harder to answer. Similar examples with voices calling for a new vision have also been heard in the other Nordic countries recently. The most obvious example is perhaps Finnish Sitra that explicitly describes the need for “an inspiring new promise about the future”. 

Considering the turbulent situation in the world in the last decade, it is perhaps not surprising that we find feelings of uncertainty. It is in fact something we could expect if we apply the long-term cyclical perspective of thinkers such as Neil Howe who describes how long cycles shape the characteristics of our societies and how the change from cycle to cycle typically results in crises. Viewed through the ‘wheel of seasons’ model developed by my colleagues Mats Lindgren and Jörgen Jedbratt, our current situation may represent a transition from winter to spring, during which crises will lead to new dominant paradigms. If reality were to follow the model, this should mean that we are slowly shifting towards an increased focus on long-term perspectives and finally also a rising belief in a positive future. 

Another sign of the uncertainty is the rising interest in scenario planning. This is a well-known pattern that goes back to the oil crisis of the 1970s when Shell’s scenario planning rose to fame and it is now perhaps the most familiar tool in the foresight toolbox. There is furthermore a general acceptance of scenario planning as a relevant tool for our time, but if we want to get broad participation and support for changes the map provided by the scenarios also needs to be accompanied by something more visionary.

The Nordic effect

So, if we are approaching a period of renewal maybe it is time to start thinking about how Nordic companies and other organisations could help bring this new future into being and shape it? How can we contribute to the creation of a new vision that can guide and speed up necessary changes so that we can balance sustainability and resilience, productivity and family life, and so on? Even though there exists a joint Nordic vision for 2030 that was adopted by the Nordic Council of Ministers in 2019 this is apparently not sufficient (and to be honest, how many of you have read it? I have, but that’s more or less required as part of my job). 

Maybe it is safe to say that it is time for a new Nordic vision? And maybe this time we should start the process as soon as possible ourselves in our own organisations so that we together can create small pieces of the great puzzle that would make up a new shared vision.

For boards, this means connecting the vision to investment priorities, capabilities and partnerships, and deciding how the organisation can contribute to a wider Nordic ambition.

Questions we need to answer in this process include:

  1. What future do we want to contribute to over the next ten to fifteen years?

  2. What can we influence? Which partners and capabilities will we need?

  3. What decisions do we need to make?

The last point may seem a bit obvious but as most of us know, foresight without action means nothing. There is in fact even a risk that foresight in some cases could become counterproductive and hinder necessary changes.

Decades ago, Kets de Vries and Miller described how some organisations become trapped in endless studies and analyses without taking action. Today, the abundance of foresight consultants and methods can give this tendency even more room to grow. An organisation may find itself contemplating a million possible futures, watching doors close one by one while trying to identify the perfect course of action. Foresight should help us choose a direction, prepare for different outcomes and move forward. A good analysis that leads to action is better than a perfect analysis that does not.

What's next

Let’s apply the tools from our foresight toolkits and start working! A new shared vision is needed and unless you take part in shaping it someone else will. So, let’s start small in our own organisations and launch processes to formulate our own visions and in this process also define our roles and purpose. This is often best done using collaborative methods – not just for the formulation of the vision but also to get people on board from the start because another thing that we need to remember is this. Scenarios and visions can give us a map of the future. But we still have to make the journey ourselves.

Johan Hammarlund

Collaborative Foresight Advisor, Kairos Future

Johan Hammarlund is a Senior Consultant at Kairos Future, a leading foresight and strategy consultancy that for more than 30 years has helped organisations anticipate change, explore future opportunities, and design strategies for long-term success. Johan specialises in collaborative foresight and democratic innovations and is active in professional networks across Sweden, the Nordic region and Europe.

Johan Hammarlund

Nordic Foresight

The Nordic Foresight Network is a network of foresight professionals advancing futures thinking across the Nordic region.

Nordic Foresight Network

Sources 

  1. Mats Lindgren - Winter is Coming or Springtime with Trump, 2016

  2. Kets de Vries and Miller - The Neurotic Organization, 1984

  3. Neil Howe - The Fourth Turning: Why American 'Crisis' May Last Until 2030, 2020

  4. Monteiro and Dal Borgo - Supporting decision making with strategic foresight, 2023

  5. Nordic prime ministers - Our Vision 2030, 2019

  6. Anna Solovjew-Wartiovaara - Sitra Megatrends Report, 2026

Latest on Listeds

Leadership Moves

Boreo names Lassi Simola CFO, ending nearly a year of a split finance function

Oct 6, 2026

Boreo has appointed Lassi Simola, currently Workout and Restructuring Executive at Nordea, as Chief Financial Officer and a member of the Group Management Team. He starts no later than 4 January 2027, ending an interim arrangement that has divided the finance role between two people since February.

Boreo brings back a CFO after deciding in February to manage without one

In December 2025, Boreo announced that CFO Jesse Petäjä would step down and said it had started recruiting a successor. In February 2026, it changed course and decided not to appoint a CFO for the time being. Rafael Osmanov became Head of M&A and Financing, and Vice President Finance Sami Hanerva took over financial reporting.

Once Simola starts, Hanerva will report to him in his current role. Osmanov will support the onboarding, and his contract ends by the end of March 2027.

The new CFO and the CEO both come from private equity and consulting dealmaking

Simola has more than 15 years in finance, over 10 of them in private equity, and is a CFA charterholder. Tuomas Kahri, CEO since 1 April 2026, was previously a partner at McKinsey & Company and Intera Partners. The hire is the first CFO appointment under Kahri.

“Lassi brings to Boreo strong expertise in mergers and acquisitions and corporate finance. He has extensive experience working with small and medium-sized companies and possesses an excellent understanding of the challenges and opportunities these businesses face,” says Tuomas Kahri, CEO of Boreo, in the press release.

Boreo has spent 2026 preparing its balance sheet for acquisitions

Boreo grew 2025 net sales by 14% to EUR 153.3 million and operational EBIT by 17% to EUR 8.0 million, and its board proposed no dividend to strengthen the financial position. The April 2026 AGM approved that proposal. First-half 2026 net sales rose 14% to EUR 84.6 million, operational EBIT rose 21% to EUR 4.3 million, and operating cash flow improved to EUR 3.7 million.

The portfolio is moving in both directions. In July, subsidiary Floby Nya Bilverkstad sold its vehicle painting business Lackmästar'n. On 1 October, Boreo bought technical textiles maker TEXpro for an enterprise value of EUR 1.6 million, paid from existing cash.

“With its strengthened financial position and renewed focus on acquisitions, I believe the company is well positioned to pursue its growth strategy,” says Lassi Simola.

TEXpro, with EUR 1.7 million in net sales, shows the scale of Boreo's deals so far this year. A CFO hired for his acquisition record suggests the board expects that scale to grow.

Columnists

Who will build the next shared vision?

Oct 6, 2026

Currently there appears to be a widespread feeling of rising uncertainty and a lack of a shared vision for the future. During Sweden’s recent election campaign commentators repeatedly asked where the larger visions for the country had gone. Amid promises of quick fixes and tactical positioning, the question of what society we should build seemed harder to answer. Similar examples with voices calling for a new vision have also been heard in the other Nordic countries recently. The most obvious example is perhaps Finnish Sitra that explicitly describes the need for “an inspiring new promise about the future”. 

Considering the turbulent situation in the world in the last decade, it is perhaps not surprising that we find feelings of uncertainty. It is in fact something we could expect if we apply the long-term cyclical perspective of thinkers such as Neil Howe who describes how long cycles shape the characteristics of our societies and how the change from cycle to cycle typically results in crises. Viewed through the ‘wheel of seasons’ model developed by my colleagues Mats Lindgren and Jörgen Jedbratt, our current situation may represent a transition from winter to spring, during which crises will lead to new dominant paradigms. If reality were to follow the model, this should mean that we are slowly shifting towards an increased focus on long-term perspectives and finally also a rising belief in a positive future. 

Another sign of the uncertainty is the rising interest in scenario planning. This is a well-known pattern that goes back to the oil crisis of the 1970s when Shell’s scenario planning rose to fame and it is now perhaps the most familiar tool in the foresight toolbox. There is furthermore a general acceptance of scenario planning as a relevant tool for our time, but if we want to get broad participation and support for changes the map provided by the scenarios also needs to be accompanied by something more visionary.

The Nordic effect

So, if we are approaching a period of renewal maybe it is time to start thinking about how Nordic companies and other organisations could help bring this new future into being and shape it? How can we contribute to the creation of a new vision that can guide and speed up necessary changes so that we can balance sustainability and resilience, productivity and family life, and so on? Even though there exists a joint Nordic vision for 2030 that was adopted by the Nordic Council of Ministers in 2019 this is apparently not sufficient (and to be honest, how many of you have read it? I have, but that’s more or less required as part of my job). 

Maybe it is safe to say that it is time for a new Nordic vision? And maybe this time we should start the process as soon as possible ourselves in our own organisations so that we together can create small pieces of the great puzzle that would make up a new shared vision.

For boards, this means connecting the vision to investment priorities, capabilities and partnerships, and deciding how the organisation can contribute to a wider Nordic ambition.

Questions we need to answer in this process include:

  1. What future do we want to contribute to over the next ten to fifteen years?

  2. What can we influence? Which partners and capabilities will we need?

  3. What decisions do we need to make?

The last point may seem a bit obvious but as most of us know, foresight without action means nothing. There is in fact even a risk that foresight in some cases could become counterproductive and hinder necessary changes.

Decades ago, Kets de Vries and Miller described how some organisations become trapped in endless studies and analyses without taking action. Today, the abundance of foresight consultants and methods can give this tendency even more room to grow. An organisation may find itself contemplating a million possible futures, watching doors close one by one while trying to identify the perfect course of action. Foresight should help us choose a direction, prepare for different outcomes and move forward. A good analysis that leads to action is better than a perfect analysis that does not.

What's next

Let’s apply the tools from our foresight toolkits and start working! A new shared vision is needed and unless you take part in shaping it someone else will. So, let’s start small in our own organisations and launch processes to formulate our own visions and in this process also define our roles and purpose. This is often best done using collaborative methods – not just for the formulation of the vision but also to get people on board from the start because another thing that we need to remember is this. Scenarios and visions can give us a map of the future. But we still have to make the journey ourselves.

Johan Hammarlund

Collaborative Foresight Advisor, Kairos Future

Johan Hammarlund is a Senior Consultant at Kairos Future, a leading foresight and strategy consultancy that for more than 30 years has helped organisations anticipate change, explore future opportunities, and design strategies for long-term success. Johan specialises in collaborative foresight and democratic innovations and is active in professional networks across Sweden, the Nordic region and Europe.

Johan Hammarlund

Nordic Foresight

The Nordic Foresight Network is a network of foresight professionals advancing futures thinking across the Nordic region.

Nordic Foresight Network

Sources 

  1. Mats Lindgren - Winter is Coming or Springtime with Trump, 2016

  2. Kets de Vries and Miller - The Neurotic Organization, 1984

  3. Neil Howe - The Fourth Turning: Why American 'Crisis' May Last Until 2030, 2020

  4. Monteiro and Dal Borgo - Supporting decision making with strategic foresight, 2023

  5. Nordic prime ministers - Our Vision 2030, 2019

  6. Anna Solovjew-Wartiovaara - Sitra Megatrends Report, 2026

Latest on Listeds

Leadership Moves

Boreo names Lassi Simola CFO, ending nearly a year of a split finance function

Oct 6, 2026

Boreo has appointed Lassi Simola, currently Workout and Restructuring Executive at Nordea, as Chief Financial Officer and a member of the Group Management Team. He starts no later than 4 January 2027, ending an interim arrangement that has divided the finance role between two people since February.

Boreo brings back a CFO after deciding in February to manage without one

In December 2025, Boreo announced that CFO Jesse Petäjä would step down and said it had started recruiting a successor. In February 2026, it changed course and decided not to appoint a CFO for the time being. Rafael Osmanov became Head of M&A and Financing, and Vice President Finance Sami Hanerva took over financial reporting.

Once Simola starts, Hanerva will report to him in his current role. Osmanov will support the onboarding, and his contract ends by the end of March 2027.

The new CFO and the CEO both come from private equity and consulting dealmaking

Simola has more than 15 years in finance, over 10 of them in private equity, and is a CFA charterholder. Tuomas Kahri, CEO since 1 April 2026, was previously a partner at McKinsey & Company and Intera Partners. The hire is the first CFO appointment under Kahri.

“Lassi brings to Boreo strong expertise in mergers and acquisitions and corporate finance. He has extensive experience working with small and medium-sized companies and possesses an excellent understanding of the challenges and opportunities these businesses face,” says Tuomas Kahri, CEO of Boreo, in the press release.

Boreo has spent 2026 preparing its balance sheet for acquisitions

Boreo grew 2025 net sales by 14% to EUR 153.3 million and operational EBIT by 17% to EUR 8.0 million, and its board proposed no dividend to strengthen the financial position. The April 2026 AGM approved that proposal. First-half 2026 net sales rose 14% to EUR 84.6 million, operational EBIT rose 21% to EUR 4.3 million, and operating cash flow improved to EUR 3.7 million.

The portfolio is moving in both directions. In July, subsidiary Floby Nya Bilverkstad sold its vehicle painting business Lackmästar'n. On 1 October, Boreo bought technical textiles maker TEXpro for an enterprise value of EUR 1.6 million, paid from existing cash.

“With its strengthened financial position and renewed focus on acquisitions, I believe the company is well positioned to pursue its growth strategy,” says Lassi Simola.

TEXpro, with EUR 1.7 million in net sales, shows the scale of Boreo's deals so far this year. A CFO hired for his acquisition record suggests the board expects that scale to grow.

Columnists

Who will build the next shared vision?

Oct 6, 2026

Currently there appears to be a widespread feeling of rising uncertainty and a lack of a shared vision for the future. During Sweden’s recent election campaign commentators repeatedly asked where the larger visions for the country had gone. Amid promises of quick fixes and tactical positioning, the question of what society we should build seemed harder to answer. Similar examples with voices calling for a new vision have also been heard in the other Nordic countries recently. The most obvious example is perhaps Finnish Sitra that explicitly describes the need for “an inspiring new promise about the future”. 

Considering the turbulent situation in the world in the last decade, it is perhaps not surprising that we find feelings of uncertainty. It is in fact something we could expect if we apply the long-term cyclical perspective of thinkers such as Neil Howe who describes how long cycles shape the characteristics of our societies and how the change from cycle to cycle typically results in crises. Viewed through the ‘wheel of seasons’ model developed by my colleagues Mats Lindgren and Jörgen Jedbratt, our current situation may represent a transition from winter to spring, during which crises will lead to new dominant paradigms. If reality were to follow the model, this should mean that we are slowly shifting towards an increased focus on long-term perspectives and finally also a rising belief in a positive future. 

Another sign of the uncertainty is the rising interest in scenario planning. This is a well-known pattern that goes back to the oil crisis of the 1970s when Shell’s scenario planning rose to fame and it is now perhaps the most familiar tool in the foresight toolbox. There is furthermore a general acceptance of scenario planning as a relevant tool for our time, but if we want to get broad participation and support for changes the map provided by the scenarios also needs to be accompanied by something more visionary.

The Nordic effect

So, if we are approaching a period of renewal maybe it is time to start thinking about how Nordic companies and other organisations could help bring this new future into being and shape it? How can we contribute to the creation of a new vision that can guide and speed up necessary changes so that we can balance sustainability and resilience, productivity and family life, and so on? Even though there exists a joint Nordic vision for 2030 that was adopted by the Nordic Council of Ministers in 2019 this is apparently not sufficient (and to be honest, how many of you have read it? I have, but that’s more or less required as part of my job). 

Maybe it is safe to say that it is time for a new Nordic vision? And maybe this time we should start the process as soon as possible ourselves in our own organisations so that we together can create small pieces of the great puzzle that would make up a new shared vision.

For boards, this means connecting the vision to investment priorities, capabilities and partnerships, and deciding how the organisation can contribute to a wider Nordic ambition.

Questions we need to answer in this process include:

  1. What future do we want to contribute to over the next ten to fifteen years?

  2. What can we influence? Which partners and capabilities will we need?

  3. What decisions do we need to make?

The last point may seem a bit obvious but as most of us know, foresight without action means nothing. There is in fact even a risk that foresight in some cases could become counterproductive and hinder necessary changes.

Decades ago, Kets de Vries and Miller described how some organisations become trapped in endless studies and analyses without taking action. Today, the abundance of foresight consultants and methods can give this tendency even more room to grow. An organisation may find itself contemplating a million possible futures, watching doors close one by one while trying to identify the perfect course of action. Foresight should help us choose a direction, prepare for different outcomes and move forward. A good analysis that leads to action is better than a perfect analysis that does not.

What's next

Let’s apply the tools from our foresight toolkits and start working! A new shared vision is needed and unless you take part in shaping it someone else will. So, let’s start small in our own organisations and launch processes to formulate our own visions and in this process also define our roles and purpose. This is often best done using collaborative methods – not just for the formulation of the vision but also to get people on board from the start because another thing that we need to remember is this. Scenarios and visions can give us a map of the future. But we still have to make the journey ourselves.

Johan Hammarlund

Collaborative Foresight Advisor, Kairos Future

Johan Hammarlund is a Senior Consultant at Kairos Future, a leading foresight and strategy consultancy that for more than 30 years has helped organisations anticipate change, explore future opportunities, and design strategies for long-term success. Johan specialises in collaborative foresight and democratic innovations and is active in professional networks across Sweden, the Nordic region and Europe.

Johan Hammarlund

Nordic Foresight

The Nordic Foresight Network is a network of foresight professionals advancing futures thinking across the Nordic region.

Nordic Foresight Network

Sources 

  1. Mats Lindgren - Winter is Coming or Springtime with Trump, 2016

  2. Kets de Vries and Miller - The Neurotic Organization, 1984

  3. Neil Howe - The Fourth Turning: Why American 'Crisis' May Last Until 2030, 2020

  4. Monteiro and Dal Borgo - Supporting decision making with strategic foresight, 2023

  5. Nordic prime ministers - Our Vision 2030, 2019

  6. Anna Solovjew-Wartiovaara - Sitra Megatrends Report, 2026

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