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Jarmo Santala appointed CFO of Vapo Oy

Jarmo Santala, M.Sc. (Econ.), 49, has been appointed CFO of Vapo Oy starting from 1 August 2018. He will join Vapo from Ahlström-Munksjö, where he currently holds the position of Group Controller. Prior to his current post, he was Group Controller for Ahlström Oy from 2014–2017 and Business Area Controller for Ahlström Filtration from 2012–2014. Before that, he held several financial management positions in Nokia Corporation from 1994–2012, both in Finland and in several international units. His last position at Nokia Corporation before joining Ahlström was Head of Finance, Americas. Santala will report to Vapo Oy CEO Vesa Tempakka. Santala replaces Vapo Oy’s Interim CFO Antti Koivula.

Vapo Group reorganised its business structure from the start of its financial year on 1 May 2018. Under the new structure, the Group’s business is divided into three international divisions: Energy, Grow & Care and New Businesses. These three divisions will also be Vapo Group’s reporting segments in the financial statements. Under the new structure, the CFO is responsible for the entire Group’s financial management.

According to Vapo Oy CEO Vesa Tempakka, the change in the company’s structure from a holding company model to a cross-border single company model brings new requirements with regard to financial management. “Santala will provide us with strong experience in an international corporation’s financial management, reporting and financing, which are the characteristics that we emphasised in our selection process,” Tempakka explains.

“Vapo Group is in an interesting stage as the company shifts to a new operating model. Vapo’s main operational markets are Finland and Sweden, but the Group exports its products to more than 70 countries. The company also has a number of interesting international initiatives in each of the three divisions, which is why I believe my international background and expertise in finance, particularly in Sweden and Finland, will serve me well in my new position,” Santala says.

More information: Vesa Tempakka, CEO, Vapo Oy, tel. +358 400 726 727