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April 25, 2018

Lenita Toivakka to Finnfund Supervisory Board, Antero Toivainen to Board of Directors

The Annual General Meeting of the Finnish development finance company Finnfund has appointed Ms. Lenita Toivakka, MP, to its Supervisory Board and Mr Antero Toivainen to its Board of Directors.

Lenita Toivakka served as Finland’s Minister for Foreign Trade and Development in 2014-16 and currently holds a seat in the Foreign Affairs Committee of the Finnish Parliament. Ms Toivakka has been an active promoter of women’s and girls’ rights in the developing world. She has played a prominent role in the She Decides movement and was a member of the World Bank Advisory Council on Gender and Development.

Senior Government Advisor Antero Toivainen is the head of International Tax Affairs Unit in the Finnish Finance Ministry. He will bring to the Finnfund Board a wealth of experience on international tax policy and agreements.

The Supervisory Board oversees Finnfund’s administration, which is led by the Board of Directors and the Managing Director. The Supervisory Board is comprised of 12 members elected for a three-year term by the Annual General Meeting.

Ms Toivakka will succeed Ms Anne-Mari Virolainen who was appointed Finland’s Minister for Foreign Trade and Development.

The Board of Directors approves Finnfund’s investments and operational guidelines, as well as appoints the company’s Chief Executive Officer. The Board has a minimum of six and a maximum of eight members. The members of the Board of Directors are elected by the Annual General Meeting for one year at a time.

Mr Toivainen will succeed Ms Anne af Ursin.

More information:

Jaakko Kangasniemi, CEO, jaakko.kangasniemi(a), tel. +358 40 577 7676

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