New CEO’s appointed for Fennovoima and its main owner

Fennovoima’s nuclear power plant project is proceeding from the preparation phase towards the implementation. As the project is getting prepared for the construction phase, both the Board of Directors of Fennovoima and the Board of Directors of its main owner Voimaosakeyhtiö SF have appointed new CEO’s for the companies.

Toni Hemminki, M. Sc (Tech.), has been appointed CEO of Fennovoima. Hemminki comes to the position from Rautaruukki, at which he has been a Member of the Corporate Executive Board and has held executive positions for strategy, energy and environment. Hemminki starts in his position at Fennovoima before Christmas.

Fennovoima’s previous CEO Juha Nurmi continues working for Fennovoima as an advisor.

Elina Engman, M. Sc (Tech.), has been appointed CEO of Fennovoima’s main owner Voimaosakeyhtiö SF. Previously she has held the position of the VP for Business Development at Voimaosakeyhtiö SF. The previous CEO Pekka Ottavainen does not continue working for the company.

In addition, the Chairman of the Board of Directors of Voimaosakeyhtiö SF changes. Pertti Laukkanen, CEO of Vantaan Energia, takes the position, previously held by Antti Koskelainen, Energy Director of Outokumpu. 

During September, Fennovoima will submit for the Ministry of Employment and the Economy a clarification regarding the Finnish ownership in the project. The clarification is required to enable the Finnish Government to make its decision concerning the supplement for Fennovoima’s  Decision-in-Principle.

In the shareholder agreements it has been secured that the Finnish owner will always hold the majority ownership and the decision-making power in the project. Furthermore, commitments given in February 2014 by current owners already ensure Fennovoima’s majority ownership is Finnish.

Fennovoima applies for the construction licence by summer 2015 and the power plant will start producing electricity in 2024.

For more information:
Juhani Pitkäkoski, Chairman of Fennovoima Board of Directors, tel. +358 (0) 400 451 644
Maira Kettunen, Communications Director of Fennovoima, tel. +358 (0) 20 7579 213 (also requests for interviews with Toni Hemminki and Elina Engman)