Board of Directors

Pursuant to the company’s Articles of Association, the Board of Directors shall comprise of a minimum of 4 and a maximum of 8 members. The Annual General Meeting elects the members of the Board of Directors.

Last modified: 4.12.2023

 

The term of office of the members of the Board of Directors will expire at the end of the next Annual General Meeting following the election.

The Board of Directors has general competence to decide and act in all matters not reserved for other corporate governing bodies by law or under the provisions of the company’s Articles of Association. The Board of Directors is responsible for the company’s administration and the appropriate organisation of its operations. The Board of Directors decides on company and group wide significant matters of principal importance. The Board of Directors appoints and dismisses the CEO, supervises his or her actions and decides on his or her remuneration and other terms and conditions of employment. The Board of Directors also makes decisions on the strategy, key investments, organisation and financial affairs of the company. In addition, the Board of Directors monitors and assesses the company’s financial performance and position and reviews and approves the company’s interim reports and financial statements. In all situations, the Board of Directors must act in accordance with the best interest of the company.

Ty Lee

US citizen
Member of the Board of Directors since 2023, Independent of the company and major shareholders

 

Ty Lee (born 1970) is currently the Group President, North America of Demant as well as a member of the North America Compensation Committee of Demant and the Chair of the Board of Birdsong Hearing Benefits.

Education: MSc, MLA, MBA

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Catherine Calarco

US citizen
Member of the Board of Directors since 2023, Independent of the company and major shareholders

 

Catherine Calarco is currently a member of the Board of Advisors of Astia and a member of the Leadership Committee of How Women Lead. She has most recently been Vice President, Global Go to Market, Innovation Evangelism of Automation Anywhere.

Education: MBA, BS

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Petri Salonen

Finnish citizen
Chairman of the Board of Directors since 2006, Dependent of the company

 

Petri Salonen (born 1958) serves as the Chairman of the Board of Directors of Delfoi Ltd and as a member of the Board of Directors of AW-Energy Oy. In addition, he serves as Sales Director at JAS Partners Oy. Previously, Mr. Salonen was the Chairman and a member of the Board of Directors of Commit; Oy (presently Optomed Software Oy), a member of the Boards of Directors of Aura Capital Oy, Chip-Man Technologies Ltd, IonPhasE Ltd and Silicon Laboratories Finland Inc, the Chief Executive Officer of Atbusiness Communications Oyj and Bluegiga Technologies Inc. and the Investment Director of Aura Capital Oy. Petri Salonen is dependent of the Company as he has had a consultancy agreement with the Company and receives salary. Further, he has been a member of the Board for more than 10 years.

Education: Master of Science degree in Shipbuilding Technology, Naval Architecture and Marine Engineering from Aalto University.

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Seppo Mäkinen

Finnish citizen
Member of the Board of Directors since 2019, Independent of the company and major shareholders

 

Seppo Mäkinen serves as the Chairman of the Board of Klinik Healthcare Solutions Oy and as a member of the Board of Directors of Ginolis Oy. Previously, Mr. Mäkinen was the Chairman of the Boards of Directors of Lino Biotech AG, Taikon Advisor Oy, ValiFinn Ltd and Ginolis Oy, and a member of the Board of Directors of Aegirbio AB, Videovisit Oy, Bittium Corporation, Neurotar Ltd, ArcDia International Oy Ltd, Coimbra Genomics SA, Evondos ltd, Magnasense Technologies Oy, Med Group Oy, Med Group Holding Oy and Valirx Oy. In addition, he has been Partner at Ventac Partners, partner at Pathena SGPS, and Regional Partner at Mérieux Développement SAS, Founding and Managing Partner at BioFund Ventures and Director of Life Sciences at Sitra.

Education: Master of Science degree in Physical Chemistry from the University of Jyväskylä.

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Reijo Tauriainen

Finnish citizen
Member of the Board of Directors since 2019, Independent of the company and major shareholders

 

Reijo Tauriainen serves as the Chairman of the Boards of Directors of Pohjolan Rakennustaito Oy and Temotek Oy and as a member of the Boards of Directors of Temotek Palvelut Oy. Previously, Mr. Tauriainen was the Chairman of the Boards of Directors of Arvo Invest Nordic Oy, Pohjanmaan Arvo Sijoitusosuuskunta, Nordic Option Oy, Oulun Ydinkeskustan Parkki Oy, Sanerall Group Oy, Technopolis Kiinteistöt Pääkaupunkiseutu Oy, Technopolis Kiinteistöt Oulu Oy, Technopolis Kiinteistöt Tampere Oy, Meka Pro Oy and Unipro Oy Ltd, the Chief Executive Officer of Pohjanmaan Arvo Sijoitusosuuskunta, and a member of the Board of Directors and the Chief Financial Officer of Uros Ltd and as the Deputy Chief Executive Officer and Chief Financial Officer of Technopolis Plc. In addition, he has served as a member of the Board of Directors of Hoivatilat Plc, Nordic Option Oy, Propria Oy, Champion Door Oy, Lapwall Oy, Technopolis Kuopio Oy, as a deputy member of the Board of Directors and the Chief Executive Officer of Technopolis Hitech Oy.

Education: Master of Science degree in Economics from the University of Oulu.

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Anna Tenstam

Swedish citizen
Member of the Board of Directors since 2020, Independent of the company and major shareholders

 

Anna Tenstam serves as the Chairman of Board of Directors of Sue Ellen Investments AB,  the co-founder and Chairman of Board of Directors of Agamé Beauty AB and Estelle Medical AB, the Chairman of Board of Directors and partner of Expomind AB. Previously, Ms Tenstam has been the Chairman of the Board of Directors of Betagenon Ab, Patients Pending Ltd as well as the CEO and the Chairman of the Board of Eternogen LLC.

Education: Master of Science at Uppsala University, an MBA from IMD Business School, EMP at Stockholm School of Business.

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