Board of Directors
The Board of Directors has general responsibility for the Company's governance and the appropriate arrangement of operations. The Board of Directors is also responsible for the appropriate arrangement of the Company's accounting, risk management and of the monitoring the Company's financials. The Board of Directors addresses all matters within its responsibility under Finnish legislation, the Articles of Association, the First North Rules and other rules and regulations applicable. The Board of Directors has general competence in all matters not assigned to another corporate body of the Company by law or the Articles of Association.
The procedure and rules of the Board of Directors of Cityvarasto are described in the charter and annual calendar adopted by the Board of Directors.
In addition to the duties defined in laws and regulations and Cityvarasto's Articles of Association, the duties of Cityvarasto's Board of Directors include the following:
- to guide and supervise Cityvarasto's management and operations
- to decide on significant matters pertaining to Cityvarasto's operations
- to review and approve Cityvarasto's half-year report, interim report, annual report and financial statements
- to approve Cityvarasto's strategic objectives and risk management principles and Cityvarasto's certain guidelines and policies and monitor their realisation
- to decide on significant business acquisitions, investments and divestments
- to define Cityvarasto's dividend policy
Cityvarasto's Board of Directors convenes according to a schedule agreed in advance and as needed. The Board of Directors receives up-to-date information on Cityvarasto's operations, finance and risks in its meetings. In addition to its members, the CEO,the CFO and the secretary of the Board of the Directors attend in the meetings of the Board of Directors, unless the meeting concerns a matter concerning them. Minutes are kept of all meetings of the Board of Directors.
Independence of Board members add
The Board of Directors has carried out an independence assessment in accordance with the Finnish Corporate Governance Code published by the Securities Market Association. Based on this assessment, the Board members Aki Kostiander, Salla Tuominen, and Henrik Christensen have been deemed independent of the company and its significant shareholders. Board member Ville Stenroos has not been considered independent of the company and its significant shareholders.
Committees add
The Board may establish permanent committees to assist in preparing and carrying out its duties and responsibilities, and may also decide on their size, composition, and tasks. At present, Cityvarasto has no Board committees.
The committees will not have independent decision-making authority in matters within the competence of the Board; instead, they assist the Board in preparing such matters. The committees report regularly on their activities to the Board.
Members of the Board
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Aki Kostiander
Chairman of the Board 2018–2022, 2025–
Education: Master of Science in Economics
Born 1969
Background add
Aki Kostiander (born 1969) has served as the chairman of Cityvarasto's Board of Directors since 2025 as well as a member of the Board of Directors between 2018 and 2022. Kostiander serves also as the chairman of the Board of Directors in Landmark Real Assets Ltd and Amplia Wealth Finland Oy as well as a deputy member of the Board of Directors of Biomerit Oy.
Furthermore, during the previous five years Kostiander has served as the CEO of Landmark Real Assets Ltd, as the chairman of the Board of Directors of Landmark Ground Rent Development Fund I GP Oy and as a member of the Board of Directors in Biomerit Oy, Landmark Real Assets Ltd and Matti Leinonen Consulting Oy.
Kostiander holds a Master of Science degree in Economics from the Hanken School of Economics. Kostiander is a Finnish citizen.
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Salla Tuominen
Member of the Board 2025–
Education: Master of Law
Born 1976
Background add
Salla Tuominen (born 1976) has served as a member of the Board of Directors of Cityvarasto since 2025. Tuominen also serves as the chairman of the Board of Directors and a member of the management team at DLA Piper Finland Attorneys Ltd, a member of the Board of Directors at Várri Ventures Ltd as well as a deputy member of the Board of Directors at Bamboo Capital Ltd and Nudgewink Oy.
During the previous five years, Tuominen has served as a member of the Board of Directors at DLA Piper Finland Attorneys Ltd, a member of the Board of Directors (non-executive member) at Peritia Capital Ltd and a deputy member of the Board of Directors at Karmitaito Oy.
Tuominen is an attorney at law and holds a Master of Laws degree from University of Helsinki. Tuominen is also trained on the bench. Tuominen is a Finnish citizen.
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Ville Stenroos
Member of the Board 1999–
Education: Master of Science in Technology
Born 1973
Background add
Ville Stenroos (born 1973) has served as the chairman of Cityvarasto's Board of Directors or a member of the Board of Directors as well as the CEO of the Company since 1999.
Stenroos is also a member of the Board of Directors of Rakennuttajainsinööritoimisto Stenroos Oy and Stonerose Capital Oy.
Stenroos holds a Master of Science degree in Technology from the Helsinki University of Technology. Stenroos is a Finnish citizen.
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Henrik Christensen
Member of the Board 2025–
Education: Master of Law
Born 1962
Background add
Henrik Christensen (born 1962) has served as a member of the Board of Directors of Cityvarasto since 2025. Christensen also serves as the chairman of the Board of Directors at Nordic Technology Group AS, and a member of the Board of Directors at Arribatec Group ASA, Stangeskovene AS, as well as Fearnley Advisors AS.
During the previous five years, Christensen has served as a partner at Ro Sommernes Advokatfirma DA and the chairman of the Board of Directors at Norwegian Property ASA. Christensen holds a Master of Laws degree from University of Oslo. Christensen is a Norwegian citizen.
Hallituksen omistukset
| Name | Position | Total shares | Shares and votes, % |
|---|---|---|---|
| Aki Kostiander | Chairman of the Board | 240,909 1 | 3.40 |
| Ville Stenroos | Board Member, CEO | 4,631,9872 | 65.35 |
| Salla Tuominen | Board Member | 0 | 0 |
| Henrik Christensen | Board Member | 0 | 0 |
1 Indirect ownership through controlled entity Biomerit Oy.
2 Indirect ownership through controlled entity Stonerose Capital Oy.
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