Board of Directors
Jaakko Eskola
Born 1958, Finnish citizen
Master of Science (Technology)
Chair of the Board of Directors since 2024
Chair of the Personnel and Remuneration Committee since 2024
Independent of the Company and significant shareholders
Career
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Wärtsilä Corporation
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Senior Advisor to the Board of Directors and Executive Team 2021
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President and CEO 2015–2021
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Senior Executive Vice President and Deputy to the CEO 2013– 2015
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President, Marine Solutions 2006–2015
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Vice President, Power Plants Sales & Marketing 2005–2006
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Wärtsilä Development & Financial Services Oy
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President 1998–2005
Key positions of trust
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Oy HIFK-Hockey Ab, Chair of the Board of Directors since 2023
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Valmet Corporation, Vice Chair of the Board of Directors since 2022
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Varma Mutual Pension Insurance Company, Member of the Board of Directors since 2021, Chair of the Board of Directors since 2022
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Oy Pörssitalo-Börshuset Ab, Member of the Board of Directors since 2022
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Finnish Foundation for Share Promotion (Pörssisäätiö), Member of the Board of Directors since 2017
Casimir Lindholm
Born 1971, Finnish citizen
Master of Science (Technology, Economics), MBA
Vice Chair of the Board of Directors since 2025
Member of the Personnel and Remuneration Committee since 2025
Independent of the Company and significant shareholders
Career
- Meyer Turku Ltd
- CEO (starting on 1 May 2025)
- Cargotec Corporation
- President and CEO 2023–2025
- Eltel Group
- President and CEO 2018–2022
- Lemminkäinen Group
- President and CEO 2014–2018
- Deputy to CEO 2014
- Executive Vice President, Building Construction Finland 2012–2014
Key positions of trust
- Hiab Corporation, Vice Chair of the Board of Directors since 2025
- YIT Corporation, Member of the Board of Directors since 2022, Vice Chair of the Board of Directors since 2024, Chair of Investment and Project Committee since 2023
Lars Engström
Born 1963, Swedish citizen
Master of Science (Engineering)
Member of the Board of Directors since 2024
Member of the Audit and Risk Management Committee since 2024
Member of the Technology Committee since 2025
Independent of the Company and significant shareholders
Career
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Sandvik AB (publ)
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President, Business Area Mining and Rock Technology 2015–2019
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BE Group AB (publ)
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Interim President & CEO 2014–2015
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Munters Group AB
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President & CEO 2006–2014
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Atlas Copco AB (publ)
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Senior management and finance positions 1994–2006
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Seco Tools AB
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Senior management and finance positions 1988–1994
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Key positions of trust
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Boart Longyear Group Ltd, Advisor to the Board of Directors since 2024
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Normet Group Ltd., Member of the Board of Directors since 2020
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Alcadon Group AB, Member of the Board of Directors since 2020
Marcus Hedblom
Born 1970, Swedish citizen
Master of Science (Industrial Engineering and Management)
Member of the Board of Directors since 2024
Member of the Audit and Risk Management Committee since 2024
Independent of the Company and significant shareholders
Career
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Ovako AB
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President & CEO 2015–
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CFO 2011–2015
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SAS Group
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Deputy Group CFO 2009–2011
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CEO, Spanair S.A. 2007–2009
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CFO, Spanair S.A. 2007
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CFO, SAS Sverige AB 2004–2007
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Other management roles 2002–2004
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McKinsey & Company
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Consultant 1998–2002
Key positions of trust
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Lindab International AB, Member of the Board of Directors since 2020
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Jernkontoret (Swedish iron and steel producers’ association), Member of the Board of Directors since 2016
Teresa Kemppi-Vasama
Born 1970, Finnish citizen
Master of Social Sciences (Social Psychology), MBA
Member of the Board of Directors since 2024
Member of the Personnel and Remuneration Committee since 2024
Independent of the Company and significant shareholders
Career
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Kemppi Group Oy (incl. Kemppi Oy, Kempower Corporation, Kemptron Oy)
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Owner and entrepreneur
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Various positions in Kemppi Group Oy, Kemppi Oy, Kempower Oyj and Kemptron Oy
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Chair of the board, Vice chair, Board member, CEO, manager
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Kemppi –Yhtiöt Oy
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CEO 2020 – 2023
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Board member 2012 - 2023
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Lomapilke Oy
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CEO 2011–2018
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Board member / Vice chair 2009 - 2018
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Finnish Red Cross
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Management team member, Director 2007 - 2009
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Various positions 1997–2007
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Accenture
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Consultant 1996–1997
Key positions of trust
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LUT University, Vice Chair of the Board since 2018, Chair of the Board since 2022
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Montia Oy, Chair of the Board of Directors since 2022
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Bellator Oy, Chair of the Board of Directors since 2022
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Lahti Industrial Association, Vice Chair of the Board of Directors since 2014, Chair of the Board of Directors since 2022
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Viipurin Taloudellinen Korkeakouluseura ry, Member of the Board of Directors since 2020, Vice Chair the Board of Directors since 2022
Vesa Laisi
Born 1957, Finnish citizen
Master of Science (Technology, Economics)
Member of the Board of Directors since 2024
Member of the Audit and Risk Management Committee since 2024
Chair of the Technology Committee since 2025
Independent of the Company and significant shareholders
Career
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Danfoss A/S
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President, Danfoss Drives 2015–2022
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Vacon Ltd
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CEO 2015–2022
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Vacon Plc
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CEO 2002–2015
Key positions of trust
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Kempower Corporation, Member to the Board of Directors since 2021, Chair of the Board of Directors since 2024
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Axopar Boats Ltd, Chair of the Board of Directors since 2023
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Axopar Holdings Ltd, Chair of the Board of Directors since 2023
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Wirepas Ltd, Advisor to the Board of Directors since 2017, Member of the Board of Directors since 2024
Sari Pohjonen
Born 1966, Finnish citizen
Master of Science (Economics and Business Administration)
Member of the Board of Directors since 2024
Chair of the Audit and Risk Management Committee since 2024
Independent of the Company and significant shareholders
Career
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Oriola Corporation
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CFO 2021–2022
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Fiskars Corporation
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CFO 2017– 2021
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Deputy CEO 2018–2021
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Interim CEO 2020
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President, SBU Functional 2019–2020
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CFO, Fiskars Living 2016–2017
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Vice President, Finance, EMEA Sales Region 2012–2013
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CFO, Fiskars Home/Iittala 2008–2012
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Reima Group Oy
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CFO 2013– 2016
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Deputy CEO 2015–2016
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SanomaWSOY Corporation
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several managerial positions 2001–2008
Key positions of trust
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OP Cooperative (OP Financial Group), Member of the Board of Directors since 2025
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Lindex Group plc, Member of the Board of Directors since 2022, Chair of the Board of Directors since 2023
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Jane and Aatos Erkko Foundation, Member of the Board of Directors since 2021
Emilia Torttila-Miettinen
Born 1979, Finnish citizen
Master of Science (Technology)
Member of the Board of Directors since 2024
Member of the Personnel and Remuneration Committee since 2024
Member of the Technology Committee since 2025
Independent of the Company and significant shareholders
Career
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Valmet Corporation
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President, Automation Systems business line 2022–
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CEO, Valmet Automation Inc. 2022–
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Vice President, Operations, Automation Systems business line 2020–2022
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Director, Services, North-East Europe, Automation business line 2018–2020
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Manager, Services, North-East Europe, Automation business line 2014–2018
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Metso Corporation
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Manager, Customer Service Nordic 2014– 2015
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Product Manager, Paper Process Optimization, Metso Automation 2013–2014
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Various Global technical specialist roles 2003–2013
Key positions of trust
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Hissi ja Kuormaustila M & M Oy, Deputy Member of the Board of Directors since 2003
Board of Directors
Pursuant to the Articles of Association of Kalmar, the Board of Directors shall comprise of a minimum of five (5) and a maximum of ten (10) members. The Annual General Meeting elects the members of the Board of Directors. The Board of Directors elects the Chair and the Vice Chair of the Board of Directors from among its members. 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’s composition shall support the overall goal of implementing Kalmar’s strategy. According to the Board’s diversity principles, board diversity shall evolve over time and reflect the operations strategy and the future needs of the company. The diversity factors include work experience in the strategic business areas and of the cultures in which Kalmar operates, as well as educational background, age and gender. There shall be both genders in the Board, the target being at least three (3) directors of the underrepresented gender. In addition to the abovementioned, the Shareholders’ Nomination Board shall consider the principles concerning diversity of the Board of Directors, the independence requirements of the Finnish Corporate Governance Code and the rules of Nasdaq Helsinki applicable to the Company.
The Annual General Meeting of Kalmar, held on 27 March 2025, appointed Jaakko Eskola (Chair), Casimir Lindholm (Vice Chair), Lars Engström, Marcus Hedblom, Teresa Kemppi-Vasama, Vesa Laisi, Sari Pohjonen and Emilia Torttila-Miettinen as Members of the Board of Directors. Ulla Bono, General Counsel, serves as the Secretary to the Board of Directors.
The Board of Directors decides on company-wide significant matters of principal importance, such as the strategy, key investments, organisation and financial affairs. Furthermore, the Board of Directors appoints and dismisses the President and CEO, supervises their actions and decides on their remunerations and other terms and conditions of employment and/or the contract of service. Additionally, violations against Kalmar’s Code of Conduct are reported to the Board of Directors. The Board of Directors also approves the long- and short-term incentive programmes and their outcome.
The Board of Directors shall convene in accordance with a schedule agreed in advance and as needed. The Board of Directors constitutes a quorum when more than half of the elected members are present. When this proportion is calculated, disqualified members are excluded. Minutes are kept for all meetings.
The majority of the members of the Board of Directors shall be independent of the Company and a minimum of two of the independent directors are to be independent of significant shareholders. The Board of Directors conducts, annually and when necessary, an assessment of its members as regards their independence of the Company and major shareholders, as defined in the Corporate Governance Code. According to the assessment conducted in May 2024, all the members of the Board are independent of the Company and of significant shareholders in the Company.
Committees
The Board of Directors has established three (3) committees to deal with tasks prescribed by the Board of Directors. Each committee has a written Charter setting forth the purpose, composition, operation, and duties of the committee. The committees have no independent decision-making power unless otherwise separately authorised by the Board, but prepare issues to be resolved by the Board. The Board of Directors elects the members and the chairs for the committees from among its members. Members are appointed for a term of office which expires at the closing of the next Annual General Meeting following the election.
In addition, a Shareholders’ Nomination Board has been established for Kalmar and its charter has been adopted.
Audit and Risk Management Committee
The Audit and Risk Management Committee directs and supervises internal auditing within the Group by, for example, reviewing annual reporting and auditing work, the scope of the internal and external audits, and the Group’s financial policies, evaluating the adequacy and propriety of internal control and risk management and dealing with the plans and reports of the Corporate Audit. A particular purpose of the Committee is to assist the Board in fulfilling its responsibility to oversee management’s conduct of the Company’s financial and sustainability reporting process. The chief of the Corporate Audit reports on audit results to the committee. The committee consists of a minimum of three (3) Board Members.
The Chair of the Audit and Risk Management Committee is Sari Pohjonen and other members are Lars Engström, Marcus Hedblom and Vesa Laisi.
Personnel and Remuneration Committee
The Personnel and Remuneration Committee assists, provides guidance and recommendations to the Board in the personnel and remuneration related matters such as (i) President and CEO nomination, remuneration and succession, (ii) Kalmar’s remuneration policy and related reporting, (iii) general remuneration principles, the long-term and short-term incentive plans and the share-based incentive plans, (iv) performance evaluation and remuneration review of President and CEO and Kalmar Leadership Team and (v) talent management, employee retention and succession planning for executives and people strategy, workforce plan and workforce status against business strategy and plans. The committee consists of a minimum of three (3) Board members.
The Chair of the Personnel and Remuneration Committee is Jaakko Eskola and other members are Teresa Kemppi-Vasama, Casimir Lindholm and Emilia Torttila-Miettinen.
Technology Committee
The Technology Committee assists and provides guidance and recommendations to the Board in the fulfillment of its duties by reviewing and overseeing the overall strategic direction and investment of the Company in technological and scientific initiatives, and assisting in reviewing and identifying specific technology and innovation matters that could have a significant impact on the Company's competitiveness in the future. The committee consists of a minimum of two (2) Board members.
The Chair of the Technology Committee is Vesa Laisi and other members are Lars Engström and Emilia Torttila-Miettinen.
Shareholders’ Nomination Board
Kalmar’s Shareholders’ Nomination Board is responsible for preparing proposals concerning the number, the election, and the remuneration of the members of the Board of Directors to Kalmar’s General Meeting. In addition, the Nomination Board seeks prospective successor candidates for the members of the Board.
According to the charter of the Nomination Board, the Nomination Board consists of four (4) members. The members of the Nomination Board are appointed as follows: two largest shareholders of class A shares are entitled to appoint one member each, and two largest shareholders of class B shares, who do not own any class A shares, are entitled to appoint one member each. The number of votes held by each shareholder of all shares in Kalmar are determined based on the shareholder register of Kalmar as per the situation on the first banking day of June each year. The Chair of Kalmar's Board shall request each of the four largest shareholders to appoint one member to the Nomination Board by the last day of June each year. The Chair of Kalmar’s Board participates in the Nomination Board’s work as an expert without having a right to participate in the decision-making of the Nomination Board.
The Nomination Board has been established until further notice until otherwise decided by the General Meeting. The term of office of the members of the Nomination Board expires annually upon the appointment of new members of the Nomination Board in accordance with the charter of the Nomination Board.
Charter of the Shareholder’s Nomination Board
Shareholding information of members of Kalmar’s Board of Directors
Please find the Board members’ shareholdings here.