Economic actors Mikael Lilius, a leading figure in Finnish business, resigns from Metso-Outotec’s Board of Directors – a long and significant career coming to an end

During his long career, Lilius has also been a creditor of the mighty family of Swedish business, the Wallenbergs.

One The magazine turns in the history of Finnish business life when Mikael Lilius resigns as Chairman of the Board of Metso-Outotec. The company announced Friday that Sampo’s former CEO Kari Stadighia is proposed as the Chairman of the Board of Directors at the Spring Annual General Meeting.

Lilius, who turns 72 this year, is remembered above all for his tenure as CEO at Fortum from 2000 to 2009, but he has been a major influence on the boards of many large listed companies since his CEO career.

Lilius became Fortum’s CEO at a time when the electricity market had just been liberalized and the entire industry was undergoing a major transformation. He transformed from a solid state-owned company created in 1997 by the merger of IVO and Neste into a modern and highly profitable energy company.

He led Fortum’s path in Russia’s complex political patterns and made it a major player in other Nordic energy markets. In 2005, Neste was again spun off under Lilius’ own company, which has proved to be a good solution for the business development of both companies.

Career Fortum ended the reward scandal when Fortum’s generous reward program generated several million euros in rewards for management year after year. Lilius’ main reason was to put the company in good financial condition, which increased the value of its share rocketly.

The generous incentive schemes were the responsibility of the corporate governance of the state, which owns the majority of the company, but in the end, however, Lilius was allowed to leave.

Prior to his Fortum career, Lilius was a creditor of the Wallenbergs of the Swedish business community. He successfully managed some of the companies owned by the Wallenbergs.

Fortum-uran after that, Lilius became a board professional. In 2011, he became Chairman of the Board of Wärtsilä. Three years later, the Wallenbergs became major owners of Wärtsilä. Lilius continued as chairman of the board until last year.

Lilius also took over the chairmanship of Huhtamaki, where he had already served as director in the 1980s. In the background of Metso’s arrangements, Lilius has been able to serve as Chairman of the Board since 2013, when Valmet, which makes paper machines, was spun off from Metso as its own company.

Last year, Metso was merged with Outotec into a new company focusing on mining technology. The valve business will continue as a new company called Neles.

Lilius has also served on the boards and other positions of trust in many smaller companies.

Since the reward scandal, Lilius has avoided publicity and has only appeared in corporate contexts and sparingly.

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