The Board of Directors shall appoint the Company's Managing Director, whose employment terms and conditions are defined in the current Managing Director's service contract. The Managing Director shall be in charge of the Company's operative management as defined by the applied legislation. The Managing Director shall also manage the Company's sales activities in accordance with the instructions and guidelines issued by the Board of Directors. The Managing Director's pension shall be determined by the Finnish Employee's Pension Act (TEL). The notice period for the Managing Director's service agreement is six months. In addition to the pay of the notice period, no separate severance pay is disbursed. The Managing Director’s monthly salary is EUR 20,500 including fringe benefits. In addition, the Managing Director has an annual bonus scheme which is based on the revenue and EBITDA targets annually agreed with the Board of Directors. The maximal level of the annual bonus scheme is six times monthly salary.
The Managing Director is assisted by the Company's Management Group. The principal task of the Management Group and its members is, in cooperation with the Managing Director, to implement the strategy of the Board of Directors as well as the business plan and operative decisions of the Managing Director. The Management Group shall also serve as the director of the experts in the organisation.
Managing Director and Management Group:
| Name | Starting year (1) | Born in | Status |
|---|
| Niila Rajala |
2011 |
1964 |
Managing Director, Tiimari Plc |
| Veijo Heinonen |
2010 |
1961 |
Commercial Director |
| Memme Ilmakunnas |
2010 |
1955 |
Purchasing Director |
| Jarmo Kanervo |
2011 |
1954 |
Chief Financial Officer |
| Mikko Saikko |
2010 |
1971 |
Senior Vice President in ICT and Business Development |
(1) Year of becoming an employee of the Company or its affiliates
Niila Rajala (MBA, b. 1964) was appointed Managing Director of Tiimari Plc 17th May 2011. Rajala has more than 20 years of experience in senior management positions in wholesale and retail industries. During 2005–2006 Rajala worked as a Director in Ruokakesko’s Customer Relationship and HR department being responsible i.a. of concept development, development of own trademarks and brands, joint marketing, HR services and K-Plussa -loyalty program. Before that he worked as a Managing Director in K-Plus Ltd (2003–2006) and in K-Luotto Ltd (2003), as a director in Kesko Group’s e-business department (2001–2003) and as a Managing Director in K-Linkki Ltd (1998–2001). During 2007–2011 Rajala worked as a deputy Managing Director and Partner in Suomen Asiakastieto Oy.
Veijo Heinonen, b. 1961, was appointed Commercial Director for Tiimari Retail Ltd. 16th March 2010. Veijo Heinonen is responsible for Tiimari’s retail sales and marketing in Finland. Previously, Heinonen served as Director Category Management as well as Director for the Siwa chain. Prior to this he served as Marketing Director at Valiojäätelö. Heinonen holds an M.Sc. in Economics.
Memme Ilmakunnas, b. 1955, was appointed Purchasing Director for Tiimari 17th August 2010. Memme Ilmakunnas is responsible for purchase activities of the Tiimari segment. Ilmakunnas has served in various purchasing positions at Seppälä and the last four years as Purchasing Director for Seppälä Ltd.
Jarmo Kanervo, b. 1954, was appointed Acting Chief Financial Officer of Tiimari Plc on 12th September 2011 and permanent Chief Financial Officer on 25th October 2011. Jarmo Kanervo is responsible for the Group’s finances and the Finnish HR. During the recent years Kanervo has worked as CFO of Cencorp and prior to that he has been, for example, in the service of Amer, Cultor, Finvest, Lundia and Paulig. Kanervo holds an M.Sc. in Economics.
Mikko Saikko, b. 1971 was appointed Senior Vice President in ICT and Business Development for Tiimari Retail Ltd 1st April 2011. Mikko Saikko is responsible for ICT, product group management and store locations in the Tiimari segment. Saikko has peviously worked at Suomen Lähikauppa Ltd in a variety of business management and development positions, most recently responsilbe for managing the pricing and product management processes. Saikko holds an M.Sc. in Social Sciences.
The share and option holdings of the Managing Director and other members of the Management Group are listed in section Insiders.