Change in senior management at TVO

Mr. Risto Siilos, MSc (Law), the Senior Vice President in charge of Legal Affairs and Procurement at Teollisuuden Voima (TVO), as well as Deputy CEO and a member of TVO’s Management Group, is leaving TVO to take up a post with Turun Ylioppilaskyläsäätiö (The Student Village Foundation of Turku, TYS) as of 1 June 2018, where he will start as the Managing Director on 1 July 2018.

”I embraced the opportunity to transfer to another sector to give myself the chance to still learn and do something new. I have been employed by TVO for more than 20 years and have been in a position to see and experience the development of the Company and the transformation of the sector. It has been great to be part of the development and in charge of a versatility of demanding tasks. I am leaving in good spirits, as not only is timing good for me, but also suitable and natural from TVO’s viewpoint.”

Risto Siilos continues in the employment of TVO until the end of May 2018. TVO’s President and CEO, Mr. Jarmo Tanhua is not at this point able to describe the changes that will take place in the organisation of TVO Group and in the work of the Management Group as a result of Mr. Siilos leaving. The planning of the changes will start without delay.

”Risto Siilos has played an extremely important role in the development and current position of TVO. TVO’s position as a responsible Finnish electricity producer promoting the overall interests of the society and implementing large-scale projects has during Risto’s time in the Company reached a whole new dimension. The delay in the OL3 project and the associated arbitration proceedings have been a challenge which has required skilful management of legal affairs. Risto’s role has been crucial in this. I would like to express our warmest gratitude to Risto for the impressive work he has done”, Mr. Tanhua says.

For further information, please contact:

Jarmo Tanhua, President and CEO, tel. +358 2 8381 2000

Risto Siilos, Senior Vice President, Legal Affairs and Procurement,
tel. +358 2 8381 5100

Teollisuuden Voima Oyj has produced electricity for its shareholders, Finnish industrial and energy companies, safely and reliably for nearly 40 years. Nuclear electricity generated at TVO's Olkiluoto plant covers approximately one sixth, increasing to nearly one third once Olkiluoto 3 is completed, of the electricity consumption in Finland. Climate-friendly nuclear electricity not only benefits society but also reduces the environmental impact of energy production. Moreover, the world's first final disposal facility for spent nuclear fuel is under construction in Olkiluoto.