Arto Hiltunen becomes the Chairman of Itella’s Board of Directors, Jussi Kuutsa and Timo Löyttyniemi the new members


Itella Corporation's Annual General Meeting (AGM) was held in Helsinki on March 9th, 2011. The AGM adopted the financial statements for 2010, as well as discharged the members of the Supervisory Board and the Board of Directors and the President and CEO.

Board of Directors

Itella's Board of Directors consists of eight (8) members. Arto Hiltunen, M.Sc. (Econ.), was elected as the Chairman of Itella's Board of Directors and Päivi Pesola, Vice President, was elected as the Vice Chairperson.

Jussi Kuutsa, Country Director and Timo Löyttyniemi, Managing Director, were elected as the new board members. Jussi Kuutsa is the Country Director of Russia at SRV Group. Timo Löyttyniemi is the head of the State Pensionfund.

The AGM re-elected the following Board members: Kalevi Alestalo, Financial Counselor; Hele-Hannele Aminoff, Director; Riitta Savonlahti, Executive Vice President and Maarit Toivanen-Koivisto, General Manager.

Supervisory Board

Itella's Supervisory Board consists of twelve (12) members. Markku Pakkanen, MP (Centre Party) was elected as new member. Eero Lehti, MP (National Coalition Party), was re-elected as Supervisory Board Chairman and Antti Rantakangas, MP (Centre Party) as Vice Chairman. The following Supervisory Board members were re-elected: Paavo Arhinmäki (Left Alliance), Susanna Huovinen, MP (Social Democratic Party); Harri Jaskari, MP (National Coalition Party); Bjarne Kallis, MP (Christian Democrats); Johanna Karimäki (Green Party); Lauri Kähkönen, MP (Social Democratic Party); Outi Mäkelä, MP (National Coalition Party); Reijo Ojennus, entrepreneur (True Finns) and Harry Wallin, engine driver (Social Democratic Party).


The AGM also approved the Board of Directors' proposal regarding the payment of dividends of EUR 0.11 per share, totaling EUR 4.4 million.


KPMG Oy, a firm of authorized public accountants, was elected as Itella's auditor, with Pauli Salminen, Authorized Public Accountant, as the principal auditor.


The remuneration payable to members of the Supervisory Board and the Board of Directors remain unchanged.

Further information:
President and CEO, Jukka Alho, tel. +358 20 451 5600,
Secretary of the Board of Directors, Pekka Leskinen, tel. +358 20 451 5007,