Finland’s president has floated an unlikely idea: that Canada could one day join the European Union. Behind it lies a deeper question about what Europe is becoming.

In Canada, Alexander Stubb, the president of Finland, said that the world is moving into a new order. In this shifting landscape, he is advancing a bold, even visionary argument: that Europe’s future may lie not only in strengthening itself, but in redefining its borders.

Speaking in Ottawa, where he has built close ties with Canada’s leadership, Stubb has emphasized the ease of that relationship, noting regular contact with Prime Minister Mark Carney.

As a recent joint statement put it, Finland and Canada are bound by more than trade or security interests. Their partnership rests on “values-based realism,” a shared commitment to democracy, the rule of law, and pragmatic cooperation in an unstable world, alongside respect for diversity and a recognition that global challenges demand collaboration beyond traditional alliances.

From this, Stubb draws a striking, if still hypothetical, conclusion. Canada, he suggests, could one day join the European Union—a “marriage made in heaven.”

"I think Canada in terms of its whole composure, its value base, is so close to the European Union that the least we can do is to forge a really close strategic partnership," he said.

A survey conducted in March 2026 suggests the idea may not be entirely fringe. One in four Canadians supports EU membership, while a majority says it is at least worth exploring. 

A northern axis

The idea may sound bold, but it is not as far-fetched as it seems. Finland and Canada have much in common. Both are Arctic countries. Both are members of NATO. Both live close to geopolitical tension: Finland next to Russia, Canada in a changing global order, where even territorial questions such as Greenland have resurfaced.

Their cooperation has grown stronger. Joint statements highlight a close partnership in security, trade, and technology. At a time when alliances are under pressure, this signals a move toward deeper ties.

Stubb’s remarks also reflect a wider shift in Europe. With war in Ukraine and changing American priorities, Europe is rethinking its role in the world.

Enlargement, reimagined

EU enlargement is normally limited to European countries that meet strict political and economic criteria. Stubb’s suggestion challenges that logic. What if values, not borders, defined Europe?

Canada would, by most measures, qualify. It is economically advanced, institutionally stable, and politically aligned. Trade ties with Europe are already deep.

Canada, too, could have reasons to look east. Closer ties with Europe would diversify its economic and security partnerships, reducing reliance on the United States amid shifting American priorities. Recent discussions in Canada suggest a growing unease about that dependence, as political signals from Washington become less predictable.

Yet the obstacles are significant. Geography remains a barrier. Public opinion on both sides of the Atlantic would be uncertain. Institutional questions would multiply.

More interestingly, Stubb’s proposal reframes the debate: not whether Europe should expand, but what Europe is.

A confident messenger

That such an idea comes from Helsinki is not surprising. Alexander Stubb reflects Finland’s shift from the margins of European politics to its strategic center. Its accession to NATO in 2023 marked a historic turn. Its border with Russia is no longer just national—it is a frontier of the West.

At home, he enjoys strong backing. Roughly three-quarters of Finns rate his performance positively, placing him close to Sauli Niinistö at a similar stage.

Stubb’s style is notably informal by presidential standards. He mixes diplomacy with personal connections, whether engaging European counterparts or, at times, playing golf with Donald Trump.

Strategic imagination

For now, Canada’s EU membership remains distant, more a thought experiment than a policy goal. But the importance of Stubb’s remarks lies elsewhere.

They reflect a Europe searching for scale, relevance, and resilience. In that search, long-held assumptions about geography, alliances, and identity are being tested.

His suggestion may never materialize. Yet it captures something real: in a fragmented world, even the boundaries of Europe are no longer fixed.

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Leaders

Stubb floats Canada in the EU and pushes Europe to rethink its borders

Stubb floats Canada in the EU and pushes Europe to rethink its borders

·

5 min read

Finland’s president has floated an unlikely idea: that Canada could one day join the European Union. Behind it lies a deeper question about what Europe is becoming.

In Canada, Alexander Stubb, the president of Finland, said that the world is moving into a new order. In this shifting landscape, he is advancing a bold, even visionary argument: that Europe’s future may lie not only in strengthening itself, but in redefining its borders.

Speaking in Ottawa, where he has built close ties with Canada’s leadership, Stubb has emphasized the ease of that relationship, noting regular contact with Prime Minister Mark Carney.

As a recent joint statement put it, Finland and Canada are bound by more than trade or security interests. Their partnership rests on “values-based realism,” a shared commitment to democracy, the rule of law, and pragmatic cooperation in an unstable world, alongside respect for diversity and a recognition that global challenges demand collaboration beyond traditional alliances.

From this, Stubb draws a striking, if still hypothetical, conclusion. Canada, he suggests, could one day join the European Union—a “marriage made in heaven.”

"I think Canada in terms of its whole composure, its value base, is so close to the European Union that the least we can do is to forge a really close strategic partnership," he said.

A survey conducted in March 2026 suggests the idea may not be entirely fringe. One in four Canadians supports EU membership, while a majority says it is at least worth exploring. 

A northern axis

The idea may sound bold, but it is not as far-fetched as it seems. Finland and Canada have much in common. Both are Arctic countries. Both are members of NATO. Both live close to geopolitical tension: Finland next to Russia, Canada in a changing global order, where even territorial questions such as Greenland have resurfaced.

Their cooperation has grown stronger. Joint statements highlight a close partnership in security, trade, and technology. At a time when alliances are under pressure, this signals a move toward deeper ties.

Stubb’s remarks also reflect a wider shift in Europe. With war in Ukraine and changing American priorities, Europe is rethinking its role in the world.

Enlargement, reimagined

EU enlargement is normally limited to European countries that meet strict political and economic criteria. Stubb’s suggestion challenges that logic. What if values, not borders, defined Europe?

Canada would, by most measures, qualify. It is economically advanced, institutionally stable, and politically aligned. Trade ties with Europe are already deep.

Canada, too, could have reasons to look east. Closer ties with Europe would diversify its economic and security partnerships, reducing reliance on the United States amid shifting American priorities. Recent discussions in Canada suggest a growing unease about that dependence, as political signals from Washington become less predictable.

Yet the obstacles are significant. Geography remains a barrier. Public opinion on both sides of the Atlantic would be uncertain. Institutional questions would multiply.

More interestingly, Stubb’s proposal reframes the debate: not whether Europe should expand, but what Europe is.

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The month’s most important stories, leadership insights, and benchmarks across Nordic business, starting from Finland, curated so you never miss what truly matters.

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A confident messenger

That such an idea comes from Helsinki is not surprising. Alexander Stubb reflects Finland’s shift from the margins of European politics to its strategic center. Its accession to NATO in 2023 marked a historic turn. Its border with Russia is no longer just national—it is a frontier of the West.

At home, he enjoys strong backing. Roughly three-quarters of Finns rate his performance positively, placing him close to Sauli Niinistö at a similar stage.

Stubb’s style is notably informal by presidential standards. He mixes diplomacy with personal connections, whether engaging European counterparts or, at times, playing golf with Donald Trump.

Strategic imagination

For now, Canada’s EU membership remains distant, more a thought experiment than a policy goal. But the importance of Stubb’s remarks lies elsewhere.

They reflect a Europe searching for scale, relevance, and resilience. In that search, long-held assumptions about geography, alliances, and identity are being tested.

His suggestion may never materialize. Yet it captures something real: in a fragmented world, even the boundaries of Europe are no longer fixed.

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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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Market Signals

Netum rebuilds its top team for a smaller, sharper business

Oct 13, 2026

Netum Group has reorganised into four business areas, added two directors to its management team and set a 10% EBITA margin target for 2029. The structure is coherent. The test is whether a team that has turned over repeatedly since 2025 can hold still long enough to deliver.

Netum Group made three announcements on Monday morning. It put its strategy, its structure and its top team on the table. The Board approved a refined strategy with new targets for 2027 to 2029. It announced a reorganisation into four business areas, with EUR 1.4 to 1.8 million in annual cost savings. It also named the directors who will run them. Taken together, the releases do more than adjust costs. They move accountability into the business areas and add a management seat while headcount falls. They also commit Netum to a 10% EBITA margin by 2029 from a loss-making start. Netum expects 2026 revenue to fall well below the 2025 level of EUR 37.8 million and comparable EBITA to be negative. In the first half, revenue fell 25.5% and EBITA was negative at 2.4% of revenue.  

Netum says its Group Management Team “remains largely unchanged.” By head count that holds, with six of seven current members continuing. From 1 January 2027 at the latest, half of the eight-member team will be business area directors, each accountable for financial performance, personnel and capacity. Two of those four are new to the team, and Mikko Pitkänen, director of Netum Solutions, has resigned. He will not take a management role in the new organisation and will carry out separately agreed duties until his notice period ends.

The centre holds steady while every business area director starts a new role

Chief Executive Repe Harmanen, CFO Peter Ahlskog, HR and Marketing Director Liina Kangas and Sales Director Sami Rantanen keep their roles.

The change sits in delivery. Sebastian Pönkkö takes Core Systems, Integrations & Operations. The appointments have an external-origin that came in through an acquisition.Aapo Cederberg joins the team to lead Cybersecurity, Regulation & Data Protection. He founded and ran Cyberwatch Oy, which Netum bought in April 2026.  Outi Mattila will run Data, Digital & AI; she was previously Business Director of Expert Services at Buutti Oy. Liisa Rusanen will head Education Solutions & Products while continuing as CEO of Studyo Oy. Buutti and Cyberwatch will be integrated operationally into the business areas. Studyo stays a separate legal entity.

The structure is also flatter. No more than two management levels will sit between the CEO and a specialist: the business area director and the team lead, who will also deliver client work. Sales and Group Services become shared functions alongside the four areas, with capacity managed across the group. The model replaces the current split into Solutions, Expert Services and Products.

Each area has a defined job. Data, Digital & AI holds the core of Netum's AI capability. Core Systems covers systems critical to society, along with continuity services. Cybersecurity, which combines Netum's security services with Cyberwatch, is the area the strategy names for growth. Education Solutions & Products is the outlier. Through Studyo and Peppi it earns from subscriptions rather than billable hours, so its profit does not depend on how busy Netum's specialists are. 

Revenue fell EUR 6.2 million in a year. The management layer did not.

The reorganisation release explains the cause directly. Revenue was EUR 44.0 million in 2024 and EUR 37.8 million in 2025. Most of the decline came from three large customer contracts that ended in July 2025 and from weaker demand for subcontracting in specialist services. Netum says its support functions and management were "designed for a substantially larger business." 

The fix is structural rather than incremental, and the cuts follow that diagnosis. Change negotiations cover 40 employees, with 10 to 20 positions expected to go, mainly in shared functions, sales, and management, supervisory and coordination roles. Temporary layoffs are planned from this quarter. Specialists doing client work are not the target. 

Harmanen frames it as a break with the old approach: "This is no longer about an individual cost-saving measure. We are reshaping the entire organisation to align with our strategy." That is a clear break from August, when negotiations covering 30 people targeted about EUR 350,000 in savings. 

The team has turned over almost completely around Harmanen since 2025

Netum’s management team has changed almost completely since Repe Harmanen moved from the Board to the CEO role on 10 January 2025, and seven members have left it, counting Pitkänen. Matti Mujunen retired as CEO. Lauri Stigell followed in April 2025 when he stepped down from his position as CEO of Studyo Oy. Mujunen however continues as an advisor to the Board of Directors. Liisa Rusanen was appointed, transferring from the role of CEO of Codeo Oy. Kimmo Koivisto and Juha-Pekka Leskinen left the team in July 2025, when it was cut from nine members to seven, though both kept their roles. Altti Raali, CEO of the subsidiary Netum Ltd, left with immediate effect in October 2025, and Mikko Koistinen moved to a strategic account role in January 2026. Of the eight members who will run Netum from January, only Liina Kangas, Sami Rantanen and Peter Ahlskog have sat on the team before 2025. Three of them, Harmanen, Mattila and Rusanen, have been on it for less than a year.

Pitkänen’s exit is the one to read closely. He was appointed in September 2025 to simplify the Netum Ltd business area and “build a strong foundation for profitable growth.” Until the end of his notice period, he will carry out separately agreed duties until his notice period ends. The unit he led, Netum Solutions, went through change negotiations twice: in December 2025, involving 223 people and again in August 2026. The outcome of the December round, announced in February 2026, was two dismissals, 26 lay-offs and material changes to the employment terms of two people. Its operations are now divided among the other business areas. 

The structure fits the business, but the team now has to stay in place

Recent contracts map onto the new areas: integration work for the cities of Turku and Järvenpää, and security testing for Statistics Finland. The risk is the record above. In August, Netum said its previous change negotiations had raised employee turnover more than expected and reduced delivery capacity. The new round covers 40 people just as utilisation needs to rise. A management seat added in a company that has gone from 394 employees to 308 pays off only if the business area directors run their areas as owners of results, not as another layer of coordination.

The third-quarter review in early November will show whether the second-half recovery has started. The end of the change negotiations will settle where savings land within the EUR 1.4 to 1.8 million range. The year 2027, the first full year under the new structure, will be the first real test of the path to a 10% margin. 

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.

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