In a shifting workplace culture, understanding emotions is no longer soft – it’s strategic.

In an era of accelerating change, driven by digitalization, geopolitical upheaval, and economic pressure,  the emotional climate in the boardroom increasingly matters. 

According to Camilla Tuominen, speaker, illustrator, author, and co-founder of The Emotion Startup (developer of the Emotion Tracker app), Finland is at a pivotal moment. Her decade of work in leaders’ emotional awareness at companies such as Kone, If Insurance, and Fortum suggests that the Nordic “cool” culture is transforming. Executives who understand emotion can gain a competitive edge, she argues.

The strange emotional culture of offices

“In many companies, there’s an atmosphere that you could describe with the words cautious, worry, really focused on efficiency and performance,” Tuominen says, explaining how the rapid pace of change, politics, and economic uncertainty affect organizational emotions.

The tense office atmosphere cannot be explained away by the pandemic or rising unemployment alone. “All these really strange behaviors regarding emotions are there and have been there for a long time.”

Tuominen encourages people to reflect on which emotions and habits tend to dominate their workplace. Is it more common to gather by the coffee machine to share complaints, or does envy surface when someone achieves strong sales results? “I have heard many instances where people say: ‘I cannot celebrate my sales; I have to go to the bathroom and celebrate by myself because people get envious,’” she says. 

The cultural unease around open emotional expression runs deep—but it’s beginning to change.

The Nordic leadership shift

Tuominen argues that Finland’s long tradition of “just get the job done” is giving way to a leadership model where emotional intelligence is no longer optional. In the Nordic context – where leadership has historically emphasized consensus, structure, and rationality – this shift is both cultural and strategic.

“After the wars, there was this kind of need to just concentrate on efficiency: just work, work, work, and don’t think about anything else,” she says. 

But today’s problems are no longer manual or repetitive. “They require more cognitive skills. And in that work, it's absolutely necessary that we also then take a look at what emotions we have because those have a direct impact on our ability, for example, to solve problems.”

The data support this. A 2024 Finnish study among nearly 500 participants found a statistically significant association between emotional intelligence and leadership competence. Emotional and interpersonal capacities are as critical as technical or cognitive skills, suggesting organizations should assess and develop EI as part of leadership development and succession planning.

Meanwhile, global research echoes this trend: a 2022 meta-analysis involving over 78,000 participants found that emotional intelligence correlates positively with job performance, satisfaction, and organizational commitment — and negatively with stress. McKinsey’s 2021 Global Survey further shows that leadership behaviors fostering trust and vulnerability drive innovation, adaptability, and performance. Ignoring emotions, in other words, leaves human potential untapped.

Finland’s cultural transformation

Finland’s traditional leadership culture – high-trust, low-hierarchy, and rational – is evolving. The “don’t show too much” mentality is being challenged as modern work demands new emotional literacy.

For example, Emilia Takala Helo’s 2022 study found that over 80% of employees said their leader’s emotional intelligence influenced their decision to stay. More than half had left a job due to a lack of EI. Only a small minority (less than 5%) considered it irrelevant.

The implication for Nordic listed companies is clear: emotional leadership is emerging as a strategic differentiator. As Tuominen puts it:

“In this very competitive environment, if we think about business life, it's not enough to just perform well or create services or products. Those are often copied really fast. But the emotional climate and the spirit that you have in the company, that is something that cannot be copied.”

Concrete actions for leaders

Tuominen offers pragmatic steps for executives leading Finnish or Nordic teams. Here’s how to operationalize emotional intelligence at work:

  1. Speak the truth about the “elephant in the room.”
    When a leader openly addresses the issue everyone knows about but few mention, participants perceive the leader as courageous and trustworthy, Tuominen says. “He or she can pick up the heavy stuff and carry it.”


  2. Name emotions, yours and others’.
    Rather than suppressing frustration, fear, or envy, name emotions. Not only because it helps you release what’s inside, but also because it allows you to understand what’s truly going on beneath the surface. Tuominen calls them primary and secondary emotions.


  3. Model the behavior you expect.
    “People are not stupid. So if they don't see [risk-taking] in the leadership or management, it's really not a situation where they feel safe to be courageous and vulnerable themselves.”


  4. Address chronic negativity directly.
    Invite dialogue with persistent complainers. Be curious. “By just listening and appreciating, often it starts to solve itself,” Tuominen says.


  5. Embed daily emotional hygiene.
    “When we suppress negative emotions, they start to pile up, and little by little, we start to notice that, for example, our sleep quality is deteriorating.” She recommends simple daily practices: write down your thoughts, worries, and wins, and connect regularly with trusted peers or mentors who understand your reality.

The challenge ahead

For Nordic executives, embracing emotion is not simple. Cultural habits such as stoicism, modesty, and a strict separation between personal and professional run deep. Tuominen points to common misconceptions and blind spots:

“Often, the emotion you first identify is only a secondary emotion. You might think, ‘I’m really angry,’ but beneath that, there might be frustration or loneliness.”

“Being truthful and showing emotions – or being emotionally intelligent – doesn’t mean being soft or weak. In fact, it’s the opposite. They treat emotions much like any other challenge: if there’s a leak in the ship, you don’t look away. You fix it.” 

However, fixing it requires stepping away from linear problem-solving. It requires “emotional intelligence, which means being open, curious, respectful, and listening – and only then directing the behaviors.”

“People won’t jump in or share ideas if they feel there’s no trust. You can’t just command emotions. You have to be there with people. Meet them where they are emotionally. That’s where authenticity comes in.”

Another barrier is measurement: emotions cannot be counted. They are abstract. For many executives, this remains the hardest part: emotional intelligence does not fit neatly into an Excel cell. Efforts to translate empathy or trust into quarterly KPIs often miss the point.

Yet Tuominen has seen through her workshops that visuals can make emotions tangible. When words fail, illustrations help teams surface what is often left unsaid. Still, genuine transformation requires more than a creative exercise. It calls for systematic self-reflection across all levels of the organization.

For Tuominen, striving for a healthy emotional climate is worth the effort. “It will create this competitive advantage for the companies that will last. It's really sensitive and it cannot be just ordered. But once you create that, it's exponential power. It's not linear.”

About Camilla Tuominen 

Camilla Tuominen (M.Econ) is an experienced speaker, having delivered over 500 keynotes to companies across industries. She is a bestselling author, doctoral researcher, illustrator, and former startup founder passionate about helping leaders and organizations rethink the role of emotions—not as a soft skill, but as a strategic advantage.

Illustrations by Camilla Tuominen.

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Leaders

Leading with emotions: How Nordic leaders can turn emotional intelligence into performance and retention

Leading with emotions: How Nordic leaders can turn emotional intelligence into performance and retention

·

5 min read

Credit: Elina Simonen

Credit: Elina Simonen

In a shifting workplace culture, understanding emotions is no longer soft – it’s strategic.

In an era of accelerating change, driven by digitalization, geopolitical upheaval, and economic pressure,  the emotional climate in the boardroom increasingly matters. 

According to Camilla Tuominen, speaker, illustrator, author, and co-founder of The Emotion Startup (developer of the Emotion Tracker app), Finland is at a pivotal moment. Her decade of work in leaders’ emotional awareness at companies such as Kone, If Insurance, and Fortum suggests that the Nordic “cool” culture is transforming. Executives who understand emotion can gain a competitive edge, she argues.

The strange emotional culture of offices

“In many companies, there’s an atmosphere that you could describe with the words cautious, worry, really focused on efficiency and performance,” Tuominen says, explaining how the rapid pace of change, politics, and economic uncertainty affect organizational emotions.

The tense office atmosphere cannot be explained away by the pandemic or rising unemployment alone. “All these really strange behaviors regarding emotions are there and have been there for a long time.”

Tuominen encourages people to reflect on which emotions and habits tend to dominate their workplace. Is it more common to gather by the coffee machine to share complaints, or does envy surface when someone achieves strong sales results? “I have heard many instances where people say: ‘I cannot celebrate my sales; I have to go to the bathroom and celebrate by myself because people get envious,’” she says. 

The cultural unease around open emotional expression runs deep—but it’s beginning to change.

The Nordic leadership shift

Tuominen argues that Finland’s long tradition of “just get the job done” is giving way to a leadership model where emotional intelligence is no longer optional. In the Nordic context – where leadership has historically emphasized consensus, structure, and rationality – this shift is both cultural and strategic.

“After the wars, there was this kind of need to just concentrate on efficiency: just work, work, work, and don’t think about anything else,” she says. 

But today’s problems are no longer manual or repetitive. “They require more cognitive skills. And in that work, it's absolutely necessary that we also then take a look at what emotions we have because those have a direct impact on our ability, for example, to solve problems.”

The data support this. A 2024 Finnish study among nearly 500 participants found a statistically significant association between emotional intelligence and leadership competence. Emotional and interpersonal capacities are as critical as technical or cognitive skills, suggesting organizations should assess and develop EI as part of leadership development and succession planning.

Meanwhile, global research echoes this trend: a 2022 meta-analysis involving over 78,000 participants found that emotional intelligence correlates positively with job performance, satisfaction, and organizational commitment — and negatively with stress. McKinsey’s 2021 Global Survey further shows that leadership behaviors fostering trust and vulnerability drive innovation, adaptability, and performance. Ignoring emotions, in other words, leaves human potential untapped.

Finland’s cultural transformation

Finland’s traditional leadership culture – high-trust, low-hierarchy, and rational – is evolving. The “don’t show too much” mentality is being challenged as modern work demands new emotional literacy.

For example, Emilia Takala Helo’s 2022 study found that over 80% of employees said their leader’s emotional intelligence influenced their decision to stay. More than half had left a job due to a lack of EI. Only a small minority (less than 5%) considered it irrelevant.

The implication for Nordic listed companies is clear: emotional leadership is emerging as a strategic differentiator. As Tuominen puts it:

“In this very competitive environment, if we think about business life, it's not enough to just perform well or create services or products. Those are often copied really fast. But the emotional climate and the spirit that you have in the company, that is something that cannot be copied.”

Concrete actions for leaders

Tuominen offers pragmatic steps for executives leading Finnish or Nordic teams. Here’s how to operationalize emotional intelligence at work:

  1. Speak the truth about the “elephant in the room.”
    When a leader openly addresses the issue everyone knows about but few mention, participants perceive the leader as courageous and trustworthy, Tuominen says. “He or she can pick up the heavy stuff and carry it.”


  2. Name emotions, yours and others’.
    Rather than suppressing frustration, fear, or envy, name emotions. Not only because it helps you release what’s inside, but also because it allows you to understand what’s truly going on beneath the surface. Tuominen calls them primary and secondary emotions.


  3. Model the behavior you expect.
    “People are not stupid. So if they don't see [risk-taking] in the leadership or management, it's really not a situation where they feel safe to be courageous and vulnerable themselves.”


  4. Address chronic negativity directly.
    Invite dialogue with persistent complainers. Be curious. “By just listening and appreciating, often it starts to solve itself,” Tuominen says.


  5. Embed daily emotional hygiene.
    “When we suppress negative emotions, they start to pile up, and little by little, we start to notice that, for example, our sleep quality is deteriorating.” She recommends simple daily practices: write down your thoughts, worries, and wins, and connect regularly with trusted peers or mentors who understand your reality.

The challenge ahead

For Nordic executives, embracing emotion is not simple. Cultural habits such as stoicism, modesty, and a strict separation between personal and professional run deep. Tuominen points to common misconceptions and blind spots:

“Often, the emotion you first identify is only a secondary emotion. You might think, ‘I’m really angry,’ but beneath that, there might be frustration or loneliness.”

“Being truthful and showing emotions – or being emotionally intelligent – doesn’t mean being soft or weak. In fact, it’s the opposite. They treat emotions much like any other challenge: if there’s a leak in the ship, you don’t look away. You fix it.” 

However, fixing it requires stepping away from linear problem-solving. It requires “emotional intelligence, which means being open, curious, respectful, and listening – and only then directing the behaviors.”

“People won’t jump in or share ideas if they feel there’s no trust. You can’t just command emotions. You have to be there with people. Meet them where they are emotionally. That’s where authenticity comes in.”

Another barrier is measurement: emotions cannot be counted. They are abstract. For many executives, this remains the hardest part: emotional intelligence does not fit neatly into an Excel cell. Efforts to translate empathy or trust into quarterly KPIs often miss the point.

Yet Tuominen has seen through her workshops that visuals can make emotions tangible. When words fail, illustrations help teams surface what is often left unsaid. Still, genuine transformation requires more than a creative exercise. It calls for systematic self-reflection across all levels of the organization.

For Tuominen, striving for a healthy emotional climate is worth the effort. “It will create this competitive advantage for the companies that will last. It's really sensitive and it cannot be just ordered. But once you create that, it's exponential power. It's not linear.”

About Camilla Tuominen 

Camilla Tuominen (M.Econ) is an experienced speaker, having delivered over 500 keynotes to companies across industries. She is a bestselling author, doctoral researcher, illustrator, and former startup founder passionate about helping leaders and organizations rethink the role of emotions—not as a soft skill, but as a strategic advantage.

Illustrations by Camilla Tuominen.

Board Programme

Built for Nordic listed company boards.

The only programme in the Nordics designed specifically for listed-company board work.
Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

Board Programme

Built for Nordic listed company boards.

The only programme in the Nordics designed specifically for listed-company board work.
Five sessions, one cohort, twenty leaders in one room - Helsinki, 2026.

Authors

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

Authors

Journalist

Emmi Laine is head of business content at Listeds and our lead for finance and business coverage. She sets the editorial agenda, interviews Nordic business leaders, and writes stories, newsletters, and social content on timely market and corporate topics. Emmi brings nearly eight years of experience from Shanghai's Yicai Global / Yicai Media Group, where she was awarded for reporting on China’s economy, finance sector, and technology innovation. She holds an MSc in Innovation and Entrepreneurship from ESADE Business School in Barcelona and a Master’s degree in International Design Business Management from Aalto University. She also holds a Bachelor’s degree in Culture Studies with a major in Journalism from Stockholm University and has studied Mandarin Chinese and Chinese culture. Emmi is a Finnish citizen and has lived in Finland, Sweden, China, and Portugal.

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Leadership Moves

Honkarakenne puts Sanna Hovila on its executive group as new CEO rewrites strategy

Oct 12, 2026

Honkarakenne has appointed HR Director Sanna Hovila as Vice President, People and Communications and a member of the Executive Group from 9 October 2026. She reports to President and CEO Magnus Hindström, and the Executive Group now has six members.

“Sanna has strong expertise and insight in personnel matters and in developing our culture. As a member of the Executive Group, she will ensure that the employee perspective is included in decisions from the very beginning and that they are communicated clearly,” said Magnus Hindström, President and CEO.

Hindström brings people and communications to the top table two months into the job

Hindström took over on 3 August, succeeding Marko Saarelainen, who moved to lead subsidiary Honka Japan. He joined from Metsä Wood, where he was vice president for Kerto LVL sales. Hovila has been HR Director at Honkarakenne since 2021 and previously worked at Atria.

The appointment follows a profit warning and an unfinished strategy update

In August, Honkarakenne dropped its numerical 2026 guidance of EUR 42 to 45 million in net sales and now only expects net sales and operating profit to exceed 2025 levels. It cited weaker export orders and a profitability programme that missed its early-year targets. First-half net sales fell 5% to EUR 15.8 million and operational EBIT, excluding non-recurring items, was EUR -2.2 million, while the order book rose 28% to EUR 33.6 million.

“We are currently updating our strategy, and implementing it requires clear decisions, openness about the rationale and consistent action. The decisions affect the everyday work of every employee, which is why human resources management and communications belong in the Executive Group,” comments Magnus Hindström, President and CEO.

Alongside the strategy update, Hindström is focusing on adjusting the cost structure and strengthening cash flow. Decisions of that kind reach every employee, which is why the company wants the people's perspective in the room when they are made.

“Change will only succeed if each of us knows where we are heading and why, and that is what I will focus on first,” says Sanna Hovila.

Monthly Leadership Moves

September's finance seats started filling from inside

Oct 9, 2026

Through August, every incoming chief financial officer at a Helsinki issuer since December 2025 already held the title somewhere else. In September, Vincit promoted from its own controlling team and UPM made WISA's interim finance chief permanent. The lateral market did not close: Tieto and Relais both hired sitting finance chiefs, and Terveystalo is now searching for one.

Listeds had recorded at least ten CFO changes across Nasdaq Helsinki and First North between December 2025 and August 2026, and not one incoming finance chief was taking the job for the first time. Last month's roundup ended on whether September would break that run. It did, at the smaller end of the market.

The month's second signal was structural. Viking Line, Kalmar, Terveystalo and the planned UPM and Sappi graphic paper joint venture each redrew an organization in September and named the people to run it. Board-level change stayed thin, and most of it was nomination-board formation for the 2027 annual general meetings rather than turnover in the boardroom itself.

Vincit and WISA broke the lateral run with internal finance appointments

The Digia and Vincit chain that opened in August closed in September. Vincit named a successor on September 01, and went inside to do it. Paula Kuittinen, Head of Management Accounting and Business Control since March 2026 and before that more than 12 years in finance roles at CGI, most recently she has been the Finance Director, now becoming the CFO on November 1. "It is great to be able to appoint our new CFO from within the company," said chief executive Julius Manni.

On September 18, UPM's board appointed Lasse von Hertzen, previously WISA's interim CFO, its permanent Senior Vice President and Chief Financial Officer, effective when the plywood demerger completes. That finishes a WISA leadership team named in full by the parent's board, with trading expected from November 2.

LapWall took a third route. Tuomo Riihonen's employment ended on September 24, and the next day the company named Tiina Määttä Chief Financial Officer and Legal Officer from October 1. Her record runs through finance and legal advisory roles at Talenom and Greenstep and the chief executive seat at Kymsol Group.

Kempower named Lasse Hatinen on September 9, bringing more than 15 years of finance leadership in listed industrial companies. He joins by March 1, 2027 at the latest, from Metso where he has served as Senior Vice President, Group Controller. Juha Jaatinen, interim since August 13, holds the seat until then.

Larger issuers kept buying finance chiefs who already hold the title

The lateral market remains the default above small cap. Tieto appointed Juuso Pajunen from Terveystalo on September 16, and Terveystalo opened its search the same day. Relais Group appointed Joonas Mäkipeska on September 14 from Technopolis, where he is Chief Financial and Strategy Officer, after CFO roles at Holiday Club Resorts, Sponda and ALD Automotive. Chief executive Christian Gebauer framed the brief as "continued profitable growth, supported by financial discipline, strong cash conversion and investment discipline."

Stora Enso moved the other way on the same theme: on September 17 CFO Niclas Rosenlew was named deputy chief executive to President & CEO Hans Sohlström while keeping the finance role. Tallink appointed Armin Penner as its new CFO on September 8. He has worked for more than six years as CFO and Management Board Member of Circle K Eesti and has also served as CFO of Euroapteek and Ragn-Sells Eesti. 

SSH went outside for its chief executive, Arvo went to its own board

September's two listed-issuer CEO appointments took opposite routes. SSH Communications Security named Lars Bell from Omada, where he was Chief Customer Officer and interim chief executive, effective October 1. The share rose 49.5% in the five sessions to September 7. Bell inherits a business whose second-quarter revenue recovered to EUR 5.7 million, up 6.8%, while EBITDA fell 40.7%, and he starts on the same day as CFO Cristian Arias. The third-quarter report will be the first one a rebuilt executive team owns.

Arvo Sijoitusosuuskunta named Teemu Kokko, a member of its board of directors since 2021, deputy chief executive from December and chief executive from April 1, 2027. The selection ran through a nomination committee drawn from the cooperative's supervisory board, one level above the board Kokko sits on. He inherits first-half operating profit of EUR 8.5 million against EUR 6.5 million a year earlier, most of the step-up traced to an approximately EUR 6.9 million gain on the HANZA exit.

Reorganizations, not departures, produced most management-team changes

The month's largest management-team changes came attached to new structures. Kalmar announced plans on September 3 to simplify its operating model by combining divisions. Terveystalo said on September 4 it will report in four segments from 2027, Healthcare Services, Oral Health, Public Partnerships and Sweden, and named Ville Pesonen senior vice president for oral health. Viking Line renewed its management structure on September 8 and established a Viking Leadership Team. UPM and Sappi nominated Gunnar Eberhardt and Stephen Blyth to lead their planned graphic paper joint venture on September 8, and the wider management team on September 14. 

Technology seats moved alongside. Aspocomp named Ville Raatikainen Chief Engineering and Technology Officer from January 1, 2027, the second outside hire to its team since July, timed to the phased commissioning of its expanded Oulu plant.

Directors moving into executive roles drove September's committee changes

Only one board chair left. Kari Syrjänen resigned as chair of Biohit on September 2. The two committee changes that followed shared a cause: a director taking an executive job. Tulikivi's audit committee chair Niko Haavisto left the board after becoming CFO of Fiskars, and Panu Paappanen became the chairperson on September 14. At Olvi, director Tarmo Noop left the audit committee to run the Estonian subsidiary A. Le Coq on an interim basis, and board chair Nora Hortling replaced him.

September split the finance pipeline by company size

September broke the lateral CFO run, but only at the smaller end of the market: Vincit and WISA filled their finance seats from inside, while Tieto and Relais kept hiring sitting finance chiefs. At chief executive level, Arvo promoted from its own board and SSH went outside. Most management-team changes followed reorganizations rather than departures. On boards, the committee changes came from directors moving into executive roles, and most other activity was nomination-board formation for 2027. With interim finance cover at Kempower and Relais and an open seat at Terveystalo, the next test is whether larger issuers start filling finance seats from within. 

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