Annual Report 2014 | Suomeksi |

Fortum Executive Management Team and operational organisation

The President and CEO is supported by the Fortum Executive Management Team. The Fortum Executive Management Team assists the President and CEO in setting the strategic and sustainability targets within the framework approved by the Board of Directors, preparing the Group's business plans,

and deciding on investments, mergers, acquisitions and divestments within its authorisation.

Financial and sustainability results are monitored in the monthly reporting and reviewed monthly by the Fortum Executive Management Team. Quarterly Performance Review meetings with the management are embedded in the Fortum Performance Management process.

Each member of the Fortum Executive Management Team is responsible for the day-to-day operations and the implementation of operational decisions in their respective organisations. The Fortum Executive Management Team meets on a monthly basis. On 31 December 2014, the Fortum Executive Management Team consisted of twelve members, including the President and CEO. Three of the members were female.

Fortum renewed its business structure as of 1 March 2014. Fortum's new divisions and responsibility areas are:

  • The Hydro Power and Technology Division and the Nuclear and Thermal Power Division are both part of Power and Technology reporting segment. The two divisions are responsible for Fortum's hydro, nuclear and thermal power generation, expert services, portfolio management and trading as well as technology and R&D functions.
  • The Heat, Electricity Sales and Solutions Division consists of Fortum's combined heat and power (CHP) production, district heating and business-to-business heating solutions, solar business, electricity sales and related customer offering as well as Corporate Sustainability.
  • The Russia Division consists of power and heat generation as well as heat distribution in Russia. It also includes Fortum’s approximately 29 % holding in TGC-1, accounted for as an associated company using the equity method.
  • The Distribution Division focuses on distribution activities in Sweden.

In addition, Fortum has established a role of Chief Operating Officer (COO) to enhance agile and flexible operations and to focus on performance and synergy. The Hydro Power and Technology Division, the Nuclear and Thermal Power Division and the Heat, Electricity Sales and Solutions Division report to the COO.

Fortum's Staff functions are Finance, Strategy and Mergers & Acquisitions, Legal, Human Resources and IT, Communications and Corporate Relations.

Fortum Executive Management Team on 31 December 2014

  • Tapio Kuula, President and CEO, Chairman of the Fortum Executive Management Team, born 1957, MSc (Eng), MSc (Econ)
  • Helena Aatinen, Senior Vice President, Corporate Communications, born 1959, MSc (Econ)
  • Alexander Chuvaev, Executive Vice President, Russia Division, born 1960, MSc (Eng)
  • Mikael Frisk, Senior Vice President, Corporate Human Resources, born 1961, MSc (Econ)
  • Esa Hyvärinen, Senior Vice President, Corporate Relations, born 1967, MSc (Econ.) and MSc (Agr.& For.) 1)
  • Timo Karttinen, Chief Financial Officer and Executive Vice President, Distribution Division, born 1965, MSc (Eng)
  • Kari Kautinen, Senior Vice President, Strategy, Mergers and Acquisitions, born 1964, LL.M 1)
  • Per Langer, Executive Vice President, Hydro Power and Technology Division, born 1969, MSc (Econ)
  • Markus Rauramo, Executive Vice President, Heat, Electricity Sales and Solutions Division, born 1968, MSc (Econ and Pol. Hist.)
  • Matti Ruotsala, Chief Operating Officer, Deputy to the President and CEO, born 1956, MSc (Eng) 
  • Sirpa-Helena Sormunen, General Counsel, born 1959, LL.M 2)
  • Tiina Tuomela, Executive Vice President, Nuclear and Thermal Power Division, born 1966, MSc (Eng), MBA 1)

1) New member as of 1 March 2014
2) New member as of 1 September 2014

Fortum's financial reporting structure 31 December 2014

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