Executives across the Nordics are sleeping worse than they admit, and the trend is becoming difficult to ignore.

According to the If Insurance Nordic Health Report 2024–2025, 65 percent of Nordic respondents – and 69 percent of Finns – report that stress has disrupted their sleep, making it the most common consequence of rising workplace pressure.¹ Many also say poor sleep is now affecting their ability to perform at work.

For Finnish sleep physician Henri Tuomilehto, who has treated more than 15,000 patients, none of this is surprising. He has watched the trend build for years: leaders convinced they are functioning normally while operating in a state of chronic depletion. “If you are always tired, it is a bit like being half-drunk when you make important decisions.”

Tuomilehto argues that many executives underestimate how quickly poor sleep erodes judgment, leadership presence, and even emotional stability. “The first thing poor sleep hits is behavior. Some people get irritable, others withdraw. If that person happens to be a leader, it shapes the entire workplace.”

The hidden toll of poor sleep on executive cognition

Sleep loss does not just cause fatigue – it degrades the very capabilities leaders rely on. Research shows that sleep deprivation impairs attention, short-term memory, and vigilance.² It also disrupts higher-order decision-making, making people more prone to risky or inconsistent choices.³ Creativity and cognitive flexibility also decline when sleep is restricted.⁴

Tuomilehto sees this play out clinically. “A tired person does not adapt. Even small challenges feel overwhelming. And if you are in a strategic role, losing concentration or creativity is a real problem.”

How to build your sleep protocol

Executives do not need a perfect nightly routine – they need a realistic, science-based protocol that reflects how sleep actually works. Tuomilehto’s guidance, supported by current research, offers a clear and practical framework.

1. Treat sleep as a non-negotiable performance asset
Many leaders still follow the myth of the so-called winner’s hour – waking at 4 or 5 AM to get ahead. Tuomilehto is firm on this: “It makes no sense. If you sleep less than your body needs, you never recover. Fatigue becomes your new normal.” Consistent under-sleeping erodes cognition, judgment, and mood long before leaders notice the decline.

2. Fix your wake-up time
Rhythm is more important than bedtime. Waking at the same time each morning stabilizes the circadian system and allows sleep pressure to build through the day. “I get up sufficiently early to control my evening energy,” Tuomilehto says. It prevents late-night alertness and helps the body recognize when it is time to wind down.

3. Support healthy sleep pressure during the day
Good nights start with good days. Regular meals, hydration, and light activity maintain stable energy. Leaders who skip lunch or grind through long meetings often arrive at evening overstimulated and struggle to fall asleep. Protecting daytime energy protects nighttime recovery.

4. Draw a clear boundary between work and evening
Tuomilehto ends his workday with a family dinner at 8:30 PM – then no emails. That consistent “shutdown signal” reduces cognitive load and gives the brain permission to disengage. Executives who stay mentally “on” until bedtime make it significantly harder for sleep pressure to translate into actual sleep.

5. Use trackers for motivation, not measurement
Wearables monitor movement, heart rate, and temperature, but they do not capture the brain activity that defines real sleep stages. Research confirms they are helpful for habit-building rather than diagnosis.² “People check their score every morning,” Tuomilehto notes, “but your body already tells you how you slept.”

6. Personalize your motivation
Long-term improvement requires a reason beyond ticking off eight hours. Leaders who succeed tie sleep to something meaningful: clearer thinking, better presence, improved resilience. “Motivation must be personal,” Tuomilehto emphasizes. “Otherwise, people quit after two weeks.”

7. Recover strategically
A short nap can restore alertness, but it cannot compensate for chronic restriction. Tuomilehto stresses that rhythm, not occasional rescue, is what restores high performance.

Why sleep matters more for leaders than anyone else

Leaders set the emotional tone of organizations. When exhausted, their judgment narrows, creativity declines, and empathy fades – all consequences well-supported by neuroscience and sleep research.⁵

Tuomilehto puts it plainly: “A good leader is an engine, not the person everyone tiptoes around.” Chronic fatigue reverses that dynamic. When a leader becomes irritable or withdrawn, psychological safety erodes and the tone of the entire organization shifts. And when strategic thinking falters, poor decisions start to cascade through teams and projects.

Better sleep sharpens judgment, steadies mood, and restores the creativity leaders need to navigate uncertainty. In other words, sleep is not indulgence. It is a leadership asset hiding in plain sight.

References

  1. If Insurance, Nordic Health Report 2024–2025: Key findings on stress, sleep, and work ability (2025), available at: https://www.if-insurance.com/large-enterprises/insight/key-findings-health-report-2024

  2. SleepFoundation, Lack of sleep and cognitive impairment (2024), available at: https://www.sleepfoundation.org/sleep-deprivation/lack-of-sleep-and-cognitive-impairment

  3. E. Aidman, K. Johnson et al., “Effects of sleep deprivation on executive functioning, cognitive abilities, metacognitive confidence and decision making” (2018), available at: https://www.researchgate.net/publication/328583846

  4. Nature Research Intelligence, Sleep deprivation and cognitive performance (2023), available at: https://www.nature.com/research-intelligence

  5. Frontiers in Psychiatry (2024), “Altered risk propensity and decision-making following sleep deprivation”, available at: https://www.frontiersin.org/journals/psychiatry/articles/10.3389/fpsyt.2024.1307408/full

|

Weekend

Sleep doctor: Building a sleep protocol that actually works

Sleep doctor: Building a sleep protocol that actually works

·

5 min read

Executives across the Nordics are sleeping worse than they admit, and the trend is becoming difficult to ignore.

According to the If Insurance Nordic Health Report 2024–2025, 65 percent of Nordic respondents – and 69 percent of Finns – report that stress has disrupted their sleep, making it the most common consequence of rising workplace pressure.¹ Many also say poor sleep is now affecting their ability to perform at work.

For Finnish sleep physician Henri Tuomilehto, who has treated more than 15,000 patients, none of this is surprising. He has watched the trend build for years: leaders convinced they are functioning normally while operating in a state of chronic depletion. “If you are always tired, it is a bit like being half-drunk when you make important decisions.”

Tuomilehto argues that many executives underestimate how quickly poor sleep erodes judgment, leadership presence, and even emotional stability. “The first thing poor sleep hits is behavior. Some people get irritable, others withdraw. If that person happens to be a leader, it shapes the entire workplace.”

The hidden toll of poor sleep on executive cognition

Sleep loss does not just cause fatigue – it degrades the very capabilities leaders rely on. Research shows that sleep deprivation impairs attention, short-term memory, and vigilance.² It also disrupts higher-order decision-making, making people more prone to risky or inconsistent choices.³ Creativity and cognitive flexibility also decline when sleep is restricted.⁴

Tuomilehto sees this play out clinically. “A tired person does not adapt. Even small challenges feel overwhelming. And if you are in a strategic role, losing concentration or creativity is a real problem.”

How to build your sleep protocol

Executives do not need a perfect nightly routine – they need a realistic, science-based protocol that reflects how sleep actually works. Tuomilehto’s guidance, supported by current research, offers a clear and practical framework.

1. Treat sleep as a non-negotiable performance asset
Many leaders still follow the myth of the so-called winner’s hour – waking at 4 or 5 AM to get ahead. Tuomilehto is firm on this: “It makes no sense. If you sleep less than your body needs, you never recover. Fatigue becomes your new normal.” Consistent under-sleeping erodes cognition, judgment, and mood long before leaders notice the decline.

2. Fix your wake-up time
Rhythm is more important than bedtime. Waking at the same time each morning stabilizes the circadian system and allows sleep pressure to build through the day. “I get up sufficiently early to control my evening energy,” Tuomilehto says. It prevents late-night alertness and helps the body recognize when it is time to wind down.

3. Support healthy sleep pressure during the day
Good nights start with good days. Regular meals, hydration, and light activity maintain stable energy. Leaders who skip lunch or grind through long meetings often arrive at evening overstimulated and struggle to fall asleep. Protecting daytime energy protects nighttime recovery.

4. Draw a clear boundary between work and evening
Tuomilehto ends his workday with a family dinner at 8:30 PM – then no emails. That consistent “shutdown signal” reduces cognitive load and gives the brain permission to disengage. Executives who stay mentally “on” until bedtime make it significantly harder for sleep pressure to translate into actual sleep.

5. Use trackers for motivation, not measurement
Wearables monitor movement, heart rate, and temperature, but they do not capture the brain activity that defines real sleep stages. Research confirms they are helpful for habit-building rather than diagnosis.² “People check their score every morning,” Tuomilehto notes, “but your body already tells you how you slept.”

6. Personalize your motivation
Long-term improvement requires a reason beyond ticking off eight hours. Leaders who succeed tie sleep to something meaningful: clearer thinking, better presence, improved resilience. “Motivation must be personal,” Tuomilehto emphasizes. “Otherwise, people quit after two weeks.”

7. Recover strategically
A short nap can restore alertness, but it cannot compensate for chronic restriction. Tuomilehto stresses that rhythm, not occasional rescue, is what restores high performance.

Why sleep matters more for leaders than anyone else

Leaders set the emotional tone of organizations. When exhausted, their judgment narrows, creativity declines, and empathy fades – all consequences well-supported by neuroscience and sleep research.⁵

Tuomilehto puts it plainly: “A good leader is an engine, not the person everyone tiptoes around.” Chronic fatigue reverses that dynamic. When a leader becomes irritable or withdrawn, psychological safety erodes and the tone of the entire organization shifts. And when strategic thinking falters, poor decisions start to cascade through teams and projects.

Better sleep sharpens judgment, steadies mood, and restores the creativity leaders need to navigate uncertainty. In other words, sleep is not indulgence. It is a leadership asset hiding in plain sight.

References

  1. If Insurance, Nordic Health Report 2024–2025: Key findings on stress, sleep, and work ability (2025), available at: https://www.if-insurance.com/large-enterprises/insight/key-findings-health-report-2024

  2. SleepFoundation, Lack of sleep and cognitive impairment (2024), available at: https://www.sleepfoundation.org/sleep-deprivation/lack-of-sleep-and-cognitive-impairment

  3. E. Aidman, K. Johnson et al., “Effects of sleep deprivation on executive functioning, cognitive abilities, metacognitive confidence and decision making” (2018), available at: https://www.researchgate.net/publication/328583846

  4. Nature Research Intelligence, Sleep deprivation and cognitive performance (2023), available at: https://www.nature.com/research-intelligence

  5. Frontiers in Psychiatry (2024), “Altered risk propensity and decision-making following sleep deprivation”, available at: https://www.frontiersin.org/journals/psychiatry/articles/10.3389/fpsyt.2024.1307408/full

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

Anni, one of Finland’s best-known hosts with a two-decade career across radio, podcasts, and television, leads our weekend lifestyle section.

Anni, one of Finland’s best-known hosts with a two-decade career across radio, podcasts, and television, leads our weekend lifestyle section.

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

Content writer

Anni, one of Finland’s best-known hosts with a two-decade career across radio, podcasts, and television, leads our weekend lifestyle section.

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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Slow down. Breathe. Live.

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Delivered one Saturday a month.

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Leadership Moves

SRV names Jarkko Salmenoja and Marko Palonen to its executive team in a four-area reorganisation

Oct 5, 2026

SRV Group has reorganised into four business areas from 1 October 2026 and added two members to its Corporate Executive Team. Jarkko Salmenoja becomes SVP, Data Centres, and Marko Palonen, most recently YIT's regional director for Northern Finland, becomes SVP, Northern Finland at the start of 2027.

Data centres move from a unit to a business area of their own

Until now, Data Centres sat inside the Business Premises, Helsinki Metropolitan Area business area. It now runs as a separate business area responsible for nationwide development, customer relationships and project delivery. Salmenoja has worked at SRV since August 2025 and previously held senior management roles at NCC, WSP Finland and YIT.

The pipeline explains the promotion. In March, SRV agreed to build a data centre in Lahti for Singapore-based DayOne, a contract expected to lift the order backlog by about 35% from the level in the fourth-quarter 2025 report. In December 2025, it started the EUR 54 million implementation phase of the LUMI AI Factory data centre in Kajaani with CSC. First-quarter 2026 order intake reached EUR 395.4 million, the highest of the decade, with DayOne named as a driver.

“Alongside our already strong contracting business, we seek growth in data centre construction, whose exceptionally large and rapidly growing market we have highlighted previously,” says Saku Sipola, President and CEO of SRV, in the press release.

Three regions now carry both residential and non-residential work, with an outside hire for the north

The Southern Finland, Western and Central Finland, and Northern Finland business areas are each responsible for both non-residential and residential construction in their markets. Jouni Forsman leads Southern Finland and Tero Karislahti leads Western and Central Finland. 

Palonen is the external addition. He served for an extended period as YIT's regional director for Northern Finland and before that at Lemminkäinen. Project development, leasing and transactions for non-residential work are combined into one unit under Jorma Seppä, while the roughly 100-person Building Services unit moves to Internal Services.

“Geographically, we are strengthening our local presence across Finland and seeking growth beyond our current operating areas in Northern Finland, on the West Coast and in the Uusimaa region in both contracting and residential construction,” says Sipola.

The new structure has to deliver nearly all of SRV's 2026 profit in the second half

SRV broke even at the operative level in the first half, on revenue of EUR 340.2 million. The company guides 2026 revenue above EUR 800 million and operative operating profit of EUR 10 to 20 million, backed by an order backlog of EUR 1,023.9 million at the end of June. That leaves at least EUR 460 million of revenue and the full profit target for the second half, the period the new business areas start in.

Salmenoja takes over a business area with two named projects already in delivery, in Lahti and Kajaani, and Palonen arrives in January to build a region SRV wants to grow. The full-year results in early 2027 will be the first test of whether four business areas change SRV's profit, not just its reporting lines. 

Leadership Moves

Elecster keeps leadership inside the board as Juuso Halonen becomes CEO

Oct 2, 2026

Elecster's board has named Deputy CEO Juuso Halonen as chief executive from 1 December 2026. Arto Kinnunen, CEO since 2017 and with the group for more than 30 years, leaves the role on 30 November and stays on as management advisor. On the same day, CFO Veronika Halonen becomes deputy CEO, eleven months after taking the finance role.

The March deputy appointment was the succession plan

On 5 March, Elecster appointed Halonen deputy CEO and a member of the management team from 30 March, reporting to Kinnunen. The stated remit was global sales and marketing and the development of management systems. Seven months later, the board has confirmed what that move signalled.

Halonen is an insider in every sense. He joined the group in 2011, has been CIO since 2019 and has sat on the board since 2024. At the time of the March appointment he held 32,705 Elecster shares. The company says Kinnunen's advisory role is meant to secure continuity through the year-end financial statement process, which places the first results under the new CEO in early 2027.

“Juuso knows Elecster, its business, personnel and international operating environment very well. The Board believes that his long experience with the company and the close work with Arto in recent months create a strong foundation for transferring the CEO's responsibility and further developing Elecster's operations,” says Jukka Halonen, Chairman of the Board, in the press release.

“I am pleased that the change of CEO can be implemented in a planned and controlled manner. I have worked closely with Juuso, and I can confidently transfer the responsibility of CEO to him,” says Arto Kinnunen.

He inherits a company whose order book has halved since March

The numbers Halonen takes over are thin. First-half 2026 revenue fell around 5.2% to EUR 15.8 million, and operating profit dropped to EUR 0.1 million from EUR 0.5 million a year earlier. The order backlog stood at EUR 4.8 million at the end of June, down from EUR 8.6 million at the end of March, as the Middle East conflict delayed customer investment decisions. A fire at the Kenyan subsidiary in Nairobi added around EUR 0.4 million in one-off costs.

The longer trend points the same way. Full-year 2025 revenue fell around 3.6% to EUR 32.7 million, and operating margin narrowed to 3.0% from 4.7%. The April AGM approved no dividend. The Russian packaging business, which the company says it will keep running for now, is the risk it flags most directly in the H1 report. Elecster still guides for revenue growth and improved earnings per share in 2026.

Halonen's own priorities match the gap. He names international sales and marketing, the service business and presence in core markets as the areas to develop, while keeping profitability as a cornerstone.

“Reliability, customer focus and profitability remain the cornerstones of our operations. At the same time, we must develop international sales and marketing, service business, our products and operating methods, and strengthen our presence and customer cooperation in our key market areas,” says Juuso Halonen in the press release.

Halonen family will hold both top executive roles and four of six board seats

The appointment concentrates leadership further. The board elected at the April 2026 AGM has six members: Aija Bärlund, Jarmo Halonen, Jukka Halonen as chair, Juuso Halonen, Veronika Halonen and Timo Kangas. From December, the CEO and deputy CEO will both come from that board.

“With her analytical and dynamic approach, Veronika Halonen has taken on the responsibilities of her current position well, and with this appointment as Deputy CEO, we are clarifying the Group's overall management structure,” says Jukka Halonen.

For a company of Elecster's size, an internal successor with seven months of supervised handover is a defensible choice. It also means the board chose continuity over an external search at a point when the business needs commercial renewal. Whether that trade pays off will show first in the order book, not in the governance chart.

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