--- title: "Owners and Governance" date: 2020-02-08 author: "evermadeadm" --- # Owners and Governance ![Owners, governance and management](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/88A828C5-BE10-4AED-8EFC-C808D3C1CF68/1440x1080-cms-content-article-hero) # Owners, governance and management **Finnish milk producers own Valio through cooperatives. We pay out all of our operational profits to the farms. Valio Ltd’s decision-making bodies are the General Meeting, the Supervisory Board and the Board of Directors.** Valio is a limited liability company owned by 13 cooperatives. Valio has a procurement agreement with five of these cooperatives, i.e. a total of 3,200 dairy farms in the cooperatives supply milk to Valio. These five cooperatives own over 99 per cent of Valio Group. The other nine cooperatives are Valio competitors. Valio Group procurement cooperatives (supply milk to Valio)Other cooperatives owning Valio sharesOsuuskunta Länsi-MaitoHirvijärven OsuusmeijeriOsuuskunta MaitosuomiHämeenlinnan OsuusmeijeriOsuuskunta Pohjolan MaitoKaustisten OsuusmeijeriOsuuskunta Tuottajain MaitoKuusamon OsuusmeijeriEvijärven OsuusmeijeriLaaksojen MaitokuntaOsuuskunta MaitokolmioOsuuskunta MaitomaaOsuuskunta Satamaito ## Profits always to dairy farms We pay the cooperatives a milk price for the received milk. Valio’s Board members are dairy farmers themselves, and they assess how much Valio can afford to pay the cooperatives for the milk. The milk price depends on how well Valio’s various products, from yoghurt and cheese to milk powder, are selling and on how profitable sales have been. The cooperatives pay the producer price to the farms and independently decide on changes in milk’s producer price. ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/162016d8-c3c5-4efc-ab00-dd95b77547cb/570x380-images-in-content) ## GOVERNANCE MODEL AND DECISION-MAKING BODIES ### Supervisory Board The Supervisory Board oversees the Board and CEO’s management of the company. Valio’s Supervisory Board is comprised of milk producers or their spouses, with different areas of the country having representation in the Supervisory Board whenever possible. The General Meeting elects the Supervisory Board members for a term of three years. This is done on a staggered basis so that one third of the members is stepping down at one time. In addition, the company’s permanent personnel can elect one member and one alternate from each of the four personnel groups for representation on the Supervisory Board. ### Board of Directors The Board of Directors, elected by the Supervisory Board, is responsible for the administration and proper organisation of Valio. According to Valio’s statute Valio must have at least 4 and no more than 7 members of the Board of Directors, who must be members of the admistration of the owner-cooperative. There are no other selection criteria. ### Executive Board Valio has a CEO, appointed by the Board of Directors, who is responsible for the day-to-day management of the company in line with the Board’s instructions and orders. The Board of Directors appoints the Executive Board members based on the CEO’s proposal. Responsibility for the company’s business and the Group’s shared services is divided among the Executive Board members. The Executive Board is responsible for developing the Group’s vision and strategy together with the Board of Directors and for ensuring the strategy is implemented within the Valio Group. The Executive Board supports the CEO in preparing and implementing operating plans and in ensuring internal cooperation and communication. ### Executive Board Members Valio Executive Board is responsible for the day-to-day management of business and exercises operational decision-making power. ![Annikka Hurme](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/BrandPhoto_Valio_PREMIUM_3251_Annikka_Hurme-300x400.jpg) #### Annikka Hurme CEO ![Jyri Virrantuomi](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/BrandPhoto_Valio_PREMIUM_2989_Jyri_Virrantuomi-300x400.jpg) #### Jyri Virrantuomi Executive Vice President, CFO Finance ![Juha Penttilä](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/117_150_Juha_Penttila.jpg) #### Juha Penttilä Executive Vice President, Operations Operations, Logistics, SCM, S&OP, Technical Services, Investments, HSEQ and Operational Excellence, Sourcing and Procurement, and IT ![Tuomas Salusjärvi](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/117_149_Tuomas_Salusjarvi.jpg) #### Tuomas Salusjärvi Executive Vice President, Expansion Businesses and Renewal (Valio Aimo, non-milk-based business, R&D, the subsidiaries Suomen Lantakaasu, Oddlygood and Profeel, as well as Climate and sustainable businesses) ![Marianne Tammela](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/BrandPhoto_Valio_PREMIUM_4849_Marianne_Tammela-300x400.jpg) #### Marianne Tammela Executive Vice President, Milk-Based Businesses Milk powder business, Fresh products, Cheeses, Butter and Spreads, and Packaging Development ![Ismo Nikkola](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/BrandPhoto_Valio_PREMIUM_2749_Ismo_Nikkola-300x400.jpg) #### Ismo Nikkola Executive Vice President, Business Enabling Functions Strategy, Sustainability, Group Communications, Public Affairs, Market Intelligence, Insight and Innovations, Brands, Marketing, Digital Customer Experience, and Data and AI Development ![Katja Lindholm](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2025/02/BrandPhoto_valio_COMPLETE_11500_Katja_Lindholm2-300x400.jpg) #### Katja Lindholm Executive Vice President, People People and HR ![Timo Pajari](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/09/Timo_Pajari-300x389.jpg) #### Timo Pajari Executive Vice President, Sales and Commercial Operations Domestic and export sales. Country organisations: Sweden, the Baltics, USA and China General Counsel **Juha Hölttä** – Legal and Compliance and Director, Primary production **Ulf Jahnsson** report to CEO. --- ### Valio’s Board of Directors The Board of Directors oversees the activities of Valio’s operational management and business. The Board of Directors has four members, all of whom are dairy farmers. The Board members are part of the five cooperatives that supply milk to Valio. ![Vesa Kaunisto](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/Vesa-Kaunisto-300x400.jpg) #### Vesa Kaunisto Chairman Farmer Veteli ![Pentti Suokannas](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/Pentti-Suokannas-300x400.jpg) #### Pentti Suokannas Vice Chairman Farmer Askola ![Jarno Kämäräinen](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2023/11/Jarno-Kamarainen-300x400.jpg) #### Jarno Kämäräinen Farmer Kiuruvesi ![Matti Leikkanen](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2024/12/BrandPhoto_Valio_COMPLETE_11729_Matti_Leikkanen-300x400.jpg) #### Matti Leikkanen Farmer Sastamala ![Satu Pulkka](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2024/12/BrandPhoto_Valio_COMPLETE_11192_Satu_Pulkka-300x400.jpg) #### Satu Pulkka Farmer Vieremä ## Valio’s Supervisory Board members Valio’s Supervisory Board has 27 members, 23 of whom are dairy farmers and four are Valio personnel representatives\*. The Supervisory Board members are part of the five cooperatives that supply milk to Valio. - Mikko Heikkinen, farmer, Lapinlahti, chairman - Jari Hekkala, farmer, Kalajoki, vice chairman - Anna–Saara Tikka, farmer, Kiuruvesi - Mats Broända, farmer, Kruunupyy - Hannu Gröhn, farmer, Nurmes - Pekka Halinen, farmer, Mikkeli - Arto Heikkinen, farmer, Pyhäntä - Petri Hovi, farmer, Lappeenranta - Mikko Huuskonen\*, specialist, Suonenjoki - Hanna Kaihoniemi, farmer, Kitee - Ari Kantonen, farmer, Taipalsaari - Ritva Kokkonen\*, food worker, Suonenjoki - Marko Räsänen, farmer, Hyvinkää - Matti Kivelä, farmer, Sysmä - Otto Kokkila, farmer, Petäjävesi - Katariina Lampela, farmer, Tervola - Päivi Pakarainen, farmer, Hämeenlinna - Lassi Mäkinen, farmer, Lieto - Petri Natunen, farmer, Joroinen - Markus Ojanperä\*, production specialist, Seinäjoki - Jari Pitkämäki, farmer, Kauhava - Hanna Laitinen\*, development manager, Helsinki - Jukka Rahja, farmer, Kalajoki - Antti Saari, farmer, Lapua - Vesa Seppä, farmer, Sastamala - Mika Tervo, farmer, Pukkila - Veikko Jokitalo, farmer, Sievi - Päivi Ylä-Outinen, farmer, Lappeenranta --- ## General Meeting Valio’s General Meeting is the supreme decision-making body. It approves the financial statements, decides on discharging the Board of Directors and the CEO from liability, and elects the Supervisory Board members and the auditors. The General Meeting is held annually in June at the latest. In a limited liability company, the owners, i.e. the shareholders, have decision-making power. Owner cooperatives have votes in Valio’s General Meeting in proportion to their ownership. All 13 shareholder cooperatives have the right to speak and vote at the General Meeting, regardless of the shareholder’s operational relationship with Valio. Legally, Valio shares are owned by the cooperatives, and in practice the owners are members of the cooperatives, i.e. milk producers. ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn-wp.valio.fi/valio-wp-network/2025/04/BrandPhoto_Valio_COMPLETE_11863-6809dc7b039b7-800x533.jpg) ## Gender distribution in governance bodies The Supervisory Board currently comprises 7 women and 20 men. The Executive Board has four women and four men; 4 members of the Board of Directors are men, 1 is a woman. ## Governance model The diagram below shows Valio’s governance bodies and their relationship to each other. Additionally, the diagram shows the governance bodies of the cooperatives supplying milk to Valio. ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/8a136085-b0c2-4778-8ec0-d9073d359ea5/570x380-images-in-content) --- ![Stakeholder relatios](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/9c4f5786-f42f-43b4-bd1d-5c1911961496/800x500-large-banner-with-image)## Stakeholder relatios We believe that companies have an important role in advancing many kinds of social themes; in fact, we want to actively engage in dialogue and exchange ideas with different actors in society, like political leaders, associations and organisations. [Read more](/we-are-valio/company/stakeholder-relations/) --- ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/62011e01-ab65-4dfc-83ae-f988f5398476/570x380-text-on-image-columns)[Farmer owned company](https://www.valio.com/we-are-valio/farmer-owned/) ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/3fb12ab8-06b3-4153-bdbe-5693f6ee574e/570x380-text-on-image-columns)[Values based management](https://www.valio.com/sustainability/responsible-leadership/) ![](https://www.valio.fi/cdn-cgi/image/format=auto/https://cdn.valio.fi/mediafiles/a20ae304-2e61-48b3-a050-c4d0312ea0a9/570x380-text-on-image-columns)[Climate and biodiversity](https://www.valio.com/carbon-footprint-2035/)