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Duties and responsibility of the Executive Management Team

The Vacon Group's Executive Management Team prepares and guides the development of the Group’s processes andbusiness operations and the Group’s common functions. The Executive Management Team handles, in particular, the company's strategy, budget, major procurements and projects, the Group structure and organization as well as major policies of administration and the HR policy issues. The Executive Management Team consists of the parentcompany's CEO and senior management in charge of the functions at the Group level.

The Executive Management Team is not an administrative body as stipulated by the Finnish Companies’ Act. The subsidiaries report to regional sales directors. The regional sales directors and production site directors report directly to the designated members of the Executive ManagementTeam.

The Vacon Group's Executive Management Team consists of:

  • Vesa Laisi, President and CEO
  • Heikki Hiltunen, Deputy to the CEO,Executive Vice President, MarketOperations
  • Tuula Hautamäki, Senior Vice President,Human Resources
  • Jukka Kasi, Executive Vice President,Product Operations

The Executive Management Team convened 11 times in 2012. Sebastian Linko, Director, Corporate Communications andInvestor Relations, acted as the Secretary to the Executive Management Team. The above listed members of the ExecutiveManagement Team have an equivalent pension age, pension insurance as well as life insurance as the CEO. However, in accordance with the decision by the Board of Directors, new members of the Executive Management Team will not be covered by the pension insurance plan described above.