Vaisala's President and CEO is appointed by the Board. The CEO manages the company in accordance with the instructions and orders given by the Board, and informs the Board of the development of the company's business and financial situation. The CEO is also responsible for organizing the company's management.
As former Vaisala CEO Pekka Ketonen announced his wish to retire, the Board of Directors nominated Licentiate of Technology Kjell Forsén (47 years) as the new Vaisala CEO starting October 1, 2006. Pekka Ketonen's employment terminated at the end of 2006.
Holdings of the permanent insiders
b. 1948, D, Tech. (h.c.)
Domicile: Helsinki, Finland
Principal occupation: President & CEO, Vaisala Oyj
Employment history:
Teleste Oy: 1971-1991, latest position CEO
Other simultaneous positions of trust: Technical Research Centre of Finland (VTT): Chairman of the Board, Elisa Oyj: Chairman of the Board, Technology Industries of Finland: Board Member, Confederation of Finnish Industries: Board Member
Corporate Management Group Chairman as of: 1992
Salaries and other compensation in 2006: Basic salary and other compensation EUR 693 000
Compensation in shares and share warrants during fiscal year 2006: 3207 A-shares
Retirement age and benefits: 65 years, according to Finnish law.
Notice period, severance pay and conditions of other severance compensations: 6 months for the employee, 12 months for the employer, compensation equal to the salary.
b. 1958
Domicile: Espoo, Finland
Principal occupation: President & CEO, Vaisala Oyj
Employment history:
Ericsson, since 1986, several managerial positions within the company, both in Finland and abroad. Latest position President of Ericsson Finland.
Other simultaneous positions of trust: Helvar Oy Ab, Board Member; Technology Industries of Finland, Board Member.
Corporate Management Group Chairman as of: 2006
Salaries and other compensation: Basic salary and other compensation EUR 74 000
Compensation in shares and share warrants during fiscal year 2006: -
Retirement age and benefits: 63 years, according to Finnish law.
Notice period, severance pay and conditions of other severance compensations: 6 months for the employee, 12 months for the employer, compensation equal to the salary.