Jaakko Pehkonen Elected Chairman of the Supervisory Board of OP-Pohjola Group
March 22, 2013 - London
Press release, 22 March 2013
Professor Jaakko Pehkonen is a new Chairman of OP-Pohjola Group's Supervisory Board. He has been member of the Supervisory Board since 2008 and Vice Chairman since 2009.
Jaakko Pehkonen (b. 1960) has acted as professor in economics at the University of Jyväskylä, School of Business and Economics (JSBE) since 1998. He received a doctoral degree at the University of Jyväskylä in 1990 and has an extensive and distinguished academic career. In his research work, Pehkonen specialises in empirical economics. He acted as the first Vice Rector of the University of Jyväskylä during 2010-12 and member of the Board of Directors and the Dean of the JSBE during 1999-2008. He was also a member of the Research Council for Culture and Society of the Academy of Finland, a member of the Scientific Committee and the Employment Working Group (headed by the then Permanent Secretary of State, Raimo Sailas) of the Ministry of Finance. In addition, Pehkonen has sat on several boards of directors and held experts positions in several companies and organisations.
At OP-Pohjola, Pehkonen has acted as Vice Chairman of the Board of OP-Pohjola Group Research Foundation and of the Kyösti Haataja Foundation since 2009. While the former foundation supports economic research, especially that into cooperative banking, the latter foundation supports research into financial, social and judicial conditions among rural population, especially among farmers.
The Cooperative Meeting is OP-Pohjola Group Central Cooperative's highest decision-making body. Held in Helsinki on 22 March 2013, the Meeting adopted the financial statements for 2012, discharged those accountable from liability and elected Supervisory Board members for a three-year term ending in 2016. It confirmed the number of Supervisory Board members at 33.
The Supervisory Board is tasked with supervising OP-Pohjola's corporate governance, managed by the Executive Board and the President, and ensuring that OP-Pohjola's operations are managed in a professional and prudent manner in accordance with the Co-operatives Act and in the best interests of OP-Pohjola and OP-Pohjola Group. In addition, the Supervisory Board shall, for example, confirm OP-Pohjola Group's strategy and other shared goals and policies, OP-Pohjola's operational goals and financial targets, appoint and discharge Executive Board members and deputy members and decide on the remuneration and division of responsibilities of the Executive Board members.
For more information, please contact:
Carina Geber-Teir, Chief Communications Officer, tel. +358 (0)10 252 8394
OP-Pohjola Group is Finland's leading financial services group providing a unique range of banking, investment and insurance services. The Group's mission is to promote the sustainable prosperity, well-being and security of its owner-members, customers and operating regions through its local presence. Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP-Pohjola Group consists of some 200 member cooperative banks and the Group's central institution, OP-Pohjola Group Central Cooperative, with its subsidiaries and closely-related companies, the largest of which is the listed company Pohjola Bank plc. The Group has a staff of over 13,000. OP-Pohjola Group posted earnings before tax of EUR 601 million in 2012 and had total assets of EUR 99.8 billion on 31 December 2012. The Group has over four million customers.
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE