Six of Finland’s most promising young listed-company leaders were recognized in Helsinki today at the Nordic Listed Leaders Future Leaders event. The evening’s most senior honor, CEO of the Year 2026, went to Janne Paavola, CEO of Nokian Panimo Oyj.

The event set out to do something Finnish capital markets rarely do in public: put a spotlight on the next generation of leadership inside listed companies.

“Finland’s listed companies have an exceptionally strong generation of young leaders who often remain invisible in public,” says Helene Auramo, founder of Nordic Listed Leaders and co-founder of Slush. “We want to bring them forward and show that a listed company, too, can be a dynamic and inspiring place to build a career and leadership.”

The Future Leader winners

CEO of the Year — Janne Paavola, Nokian Panimo Oyj. Paavola rose to CEO from within the company and took Nokian Panimo public, listing it on Nasdaq’s First North growth market in April 2025. The jury singled out a successful listing in a challenging market, along with his personal, learning-oriented way of building the company — combining, in the jury’s words, bold building with sustainable growth.

CFO of the Year — Lauri Isotalo, Framery Group Oyj. Isotalo played a central role in Framery Group’s transformation from a founder-led business through a private-equity phase to a company listed on the Nasdaq Helsinki. The jury particularly valued a successful initial public offering and two refinancings within the same year, in which the CFO held a strong role.

CMO of the Year — Sanna-Kaisa Niikko, Marimekko Oyj. Under Niikko’s leadership, Marimekko has strengthened its brand and international visibility, with sales growing across all of the company’s main markets. The jury rewarded a bold and distinctive approach to marketing Finnish design internationally.

COO of the Year — Tapani Salminen, Canatu Oyj. Salminen has built Canatu’s operational capabilities through a fast and demanding growth phase. The jury was convinced by his hands-on approach and the concrete steps with which he has moved the company forward.

CTO/CDO of the Year — Ilari Richardt, Terveystalo Oyj. As CDO and SVP Digital Services, Richardt has led Terveystalo’s wide-ranging digitalization and delivered tangible business benefits through the company’s operational development programme. The jury recognized him as a visionary leader who has produced concrete results.

CLO of the Year — Tuulia Niemelä, Springvest Oyj. Niemelä stepped up to general counsel and joined the management team in October 2025, having rapidly built the legal function of a fast-growing, First North-listed investment-services company.

How the winners were chosen

The awards were decided through a careful evaluation process. Initial screening was carried out on the Listeds platform, which analyzes listed-company leadership and financial metrics. Finalists were then asked to provide written answers, assessed by an independent jury, with any potential conflicts of interest taken into account.

The 2026 jury comprised Minja Salmio (Future Leader 2025, chair), Mikael Rautanen (Future Leader 2024), Niko Pakalén (Cevian Capital), Riikka Aaltonen (Talouselämä), Sonja Siggberg (Hannes Snellman), Rasmus Alopaeus (PwC Finland) and Alexandra Therman-Londen (Nordea).

“This year’s standard was impressive,” says jury chair and Future Leader 2025 Minja Salmio. “Among the finalists were leaders who, early in their careers, have already taken companies through listings, international expansion and demanding growth phases. It was a pleasure to see how varied and ambitious leadership is in Finnish listed companies.”

Partners of Nordic Listed Leaders are Talouselämä, Hannes Snellman, IR Partners, Adecco, hasan & partners, Nordea, PwC, Dell Technologies, Admincontrol, Vivicta, and Euroclear.

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Insights

Meet Finland’s Future Leaders 2026, six young leaders shaping Nordic listed companies

Meet Finland’s Future Leaders 2026, six young leaders shaping Nordic listed companies

·

5 min read

Credit: Nokian Panimo, Janne Paavola

Credit: Nokian Panimo, Janne Paavola

Six of Finland’s most promising young listed-company leaders were recognized in Helsinki today at the Nordic Listed Leaders Future Leaders event. The evening’s most senior honor, CEO of the Year 2026, went to Janne Paavola, CEO of Nokian Panimo Oyj.

The event set out to do something Finnish capital markets rarely do in public: put a spotlight on the next generation of leadership inside listed companies.

“Finland’s listed companies have an exceptionally strong generation of young leaders who often remain invisible in public,” says Helene Auramo, founder of Nordic Listed Leaders and co-founder of Slush. “We want to bring them forward and show that a listed company, too, can be a dynamic and inspiring place to build a career and leadership.”

The Future Leader winners

CEO of the Year — Janne Paavola, Nokian Panimo Oyj. Paavola rose to CEO from within the company and took Nokian Panimo public, listing it on Nasdaq’s First North growth market in April 2025. The jury singled out a successful listing in a challenging market, along with his personal, learning-oriented way of building the company — combining, in the jury’s words, bold building with sustainable growth.

CFO of the Year — Lauri Isotalo, Framery Group Oyj. Isotalo played a central role in Framery Group’s transformation from a founder-led business through a private-equity phase to a company listed on the Nasdaq Helsinki. The jury particularly valued a successful initial public offering and two refinancings within the same year, in which the CFO held a strong role.

CMO of the Year — Sanna-Kaisa Niikko, Marimekko Oyj. Under Niikko’s leadership, Marimekko has strengthened its brand and international visibility, with sales growing across all of the company’s main markets. The jury rewarded a bold and distinctive approach to marketing Finnish design internationally.

COO of the Year — Tapani Salminen, Canatu Oyj. Salminen has built Canatu’s operational capabilities through a fast and demanding growth phase. The jury was convinced by his hands-on approach and the concrete steps with which he has moved the company forward.

CTO/CDO of the Year — Ilari Richardt, Terveystalo Oyj. As CDO and SVP Digital Services, Richardt has led Terveystalo’s wide-ranging digitalization and delivered tangible business benefits through the company’s operational development programme. The jury recognized him as a visionary leader who has produced concrete results.

CLO of the Year — Tuulia Niemelä, Springvest Oyj. Niemelä stepped up to general counsel and joined the management team in October 2025, having rapidly built the legal function of a fast-growing, First North-listed investment-services company.

How the winners were chosen

The awards were decided through a careful evaluation process. Initial screening was carried out on the Listeds platform, which analyzes listed-company leadership and financial metrics. Finalists were then asked to provide written answers, assessed by an independent jury, with any potential conflicts of interest taken into account.

The 2026 jury comprised Minja Salmio (Future Leader 2025, chair), Mikael Rautanen (Future Leader 2024), Niko Pakalén (Cevian Capital), Riikka Aaltonen (Talouselämä), Sonja Siggberg (Hannes Snellman), Rasmus Alopaeus (PwC Finland) and Alexandra Therman-Londen (Nordea).

“This year’s standard was impressive,” says jury chair and Future Leader 2025 Minja Salmio. “Among the finalists were leaders who, early in their careers, have already taken companies through listings, international expansion and demanding growth phases. It was a pleasure to see how varied and ambitious leadership is in Finnish listed companies.”

Partners of Nordic Listed Leaders are Talouselämä, Hannes Snellman, IR Partners, Adecco, hasan & partners, Nordea, PwC, Dell Technologies, Admincontrol, Vivicta, and Euroclear.

Nordic Listed Leaders is an exclusive network for executives of publicly listed companies across the Nordics. It is part of the Listeds family.

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.

Topics

# Topics

Authors

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

Authors

Founder and ceo

Helene Auramo is a co-founder of Listeds and Nordic Listed Leaders. She has previously co-founded Slush, Indiedays, Zipipop, and Okimo Clinic, building ventures at the intersection of media, technology, and community. She holds board positions at the Finnish Business School Graduates (Suomen Ekonomit) and Finnvera, and serves as Chair of the Investment Committee at the Finnish Business School Graduates. Helene is also a columnist for Talouselämä, Finland’s leading business magazine, and Aamulehti, one of the country’s largest newspapers. Her work focuses on leadership, growth, and the structures that shape decision-making in Nordic companies. She was awarded Future Board Member of the Year in 2022 by Future Board.

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21 September 2026

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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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