Business

OP Pohjola President and Group CEO Timo Ritakallio to retire in July 2027

Jul 23, 2026

Credit: OP Pohjola

Timo Ritakallio, President and Group CEO of Finland's OP Pohjola, has announced that he will retire on 1 July 2027 in line with his executive contract. He will continue in the role until his retirement date.

Ritakallio has led OP Pohjola since March 2018 after serving as President and CEO of Ilmarinen Mutual Pension Insurance Company. He holds a Doctor of Science (Technology), a Master of Laws and an MBA. Earlier in his career, he served as Deputy CEO of OKO Bank and Pohjola Bank before joining Ilmarinen.

In addition to his executive responsibilities, Ritakallio serves as Chair of Finance Finland, Vice Chair of the boards of Kesko and Outokumpu, and is a board member of the Confederation of Finnish Industries (EK) and the European Banking Federation.

No successor has been named at this stage. Although Harri Nummela has served as Deputy to the President and Group CEO and Deputy CEO since March 2022, the retirement announcement does not identify him or any other individual as a successor candidate.

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Authors

Helene Auramo

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.