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Board of Directors

Ann SelinAntti AhoKarlson JariAntti KuljukkaJanne MakkulaJorma Malinen
Susa NikulaSinikka NäätsaariNiklas SonkinMarjo Matikainen-KallströmPenna Urrila
Members of the Board of Directors from left to right: Ann Selin, Antti Aho, Jari Karlson, Antti Kuljukka, Janne Makkula, Jorma Malinen, 
Susa Nikula, Sinikka Näätsaari, Niklas Sonkin, Marjo Matikainen-Kallström and Penna Urrila.

In accordance with the Act on Employee Pension Insurance Companies, the Board of Directors shall, together with the Chief Executive Officer, administer in a professional manner and in compliance with prudent business principles. The general task of the Board of Directors is to oversee the governance of the company and proper arrangement of the company operations, and to ensure that the supervision of accounting and asset management is appropriately arranged.

The Articles of Association and the rules of procedure of the Board of Directors list the general tasks assigned to Elo’s Board of Directors.

The Board of Directors is comprised of 12 ordinary members and four (4) deputy members. The Supervisory Board elects the members and deputy members of the Board of Directors for a term lasting three calendar years at a time. Half of the members of the Board of Directors are elected from among candidates put forth by major employer and employee organisations. An equal number of members shall be elected from the candidates put forth by the employer and employee organisations.

The Board of Directors elects the Chairman and Deputy Chairmen from among its members for one calendar year at a time.

The Board of Directors is assisted by the Appointment and Remuneration Committee and the Audit Committee.
Members of Elo's Audit Committee are Jari Karlson (Chairman), Marjo Matikainen-Kallström and Niklas Sonkin.

When in the process of choosing members of the Board, diversity of the Board of Directors is also taken into account. By having a diverse Board of Directors, the directors can better serve their mission and support Elo in achieving its strategic goals. When the Board of Directors can as a group and as individuals of different skills, experience and personal features challenge and support the management proactively, the diversity of the Board of Directors is pursued in its eligible form.

The essential factors of diversity for Elo are the complementary experience of the directors, personal features, geographical and gender distribution.

One of the main goals of Elo’s diversity policy is to maintain a balance in gender distribution in Elos Board of Directors. To be able to reach this goal, the election panel always searches for representatives of both genders when choosing new members to the Board. The achievement of goals is followed and evaluated in the election panel meetings.

Elo's Board of Directors

Antti Aho 
Born 1969, M.Sc. (Econ.) 
Managing Director, Aava Terveyspalvelut Oy
Member since 2014
Term expires in 2022

First Deputy Chairman
Ann Selin
Born 1960, eMBA
Executive Advisor, Service Union United PAM
Member since 2004*
Term expires in 2022

Second Deputy Chairman
Susa Nikula
Born 1970, M.Ed.
Executive Vice President, HR, SOK Corporation.
Member since 2017
Term expires in 2022


Sture Fjäder
Born 1958, M.Sc. (Eng.) 
President, Akava
Member since 2020
Term expires in 2022

Minna Helle
Born 1972, LL.M
Executive Director, Federation of Finnish Technology Industries
Member since 2019
Term expires in 2022

Jari Karlson
Born 1961, M.Sc. (Econ.)
Chief Financial Officer, Orion Corporation
Member since 2010*
Term expires in 2022

Juha Koponen
Born 1966, B.Sc. (Econ.)
Chairman of the Board, LocalTapiola General Insurance Company and LocalTapiola Mutual Life Insurance Company
Member since 2020
Term expires in 2022

Antti Kuljukka 
Born 1961, M.Sc.(Soc.Sc.), eMBA 
CEO, Fennia Group
Member since 2007*
Term expires in 2022

Janne Makkula
Born 1977, LL.M., trained on the bench
Vice President, Federation of Finnish Enterprises
Member since 2017
Term expires in 2022

Jorma Malinen 
Born 1959, Automation Designer 
President, Trade Union Pro 
Member since 2014
Term expires in 2022

Sinikka Näätsaari 
Born 1961, M.Soc.Sc. 
Head of Pension Policy, Central Organisation of Finnish Trade Unions SAK 
Member since 2015
Term expires in 2022

Niklas Sonkin
Born 1967, M.Sc. (Eng.)
President and CEO, Accountor Holding Oy
Member since 22 November 2017
Term expires in 2022 

Deputy members:

Aki Käyhkö
Born 1968, BBA
Managing Director / Vice President, Scandic Hotels Oy
Member since 2020
Term expires in 2022

Marjo Matikainen-Kallström
Born 1965, M.Sc. (Eng.), eMBA
Chairman of the Board, Academic Engineers and Architects in Finland TEK
Member since 2017
Term expires in 2022

Esa Neuvonen
Born 1967, M.Sc. (Econ.) 
EVP, YIT Group
Member since 2019
Term expires 2022

Penna Urrila
Born 1976, Master of Social Sciences
Director, Chief Economist, Confederation of Finnish Industries EK
Member since 2017
Term expires in 2022


All Board members are elected for a term lasting three calendar years and ending on 31 December 2022.

*Elo was established on 1 January 2014 as a result of the merger of Pension Fennia and LocalTapiola Pension Company. This member of the Board of Directors served on the Board of one of these preceding companies prior to the merger.