Kitron is proud to announce that its Chair of the Board, Tuomo Lähdesmäki, has been awarded the prestigious Chair of the Year title at a ceremony held in Oslo on Tuesday, October 28.
The award was handed out by Cecilie Myrseth, Norway’s Minister of Trade and Industry.
The Chair of the Year award was established to highlight leaders who have delivered extraordinary results during their board tenure, and to inspire new thinking and elevated value-creation across Nordic boards.
The jury gave the following reason for the award:
“During Tuomo’s tenure as Chair of the Board, Kitron has over the past ten years transformed from a medium-sized Norwegian supplier into a Nordic industrial success with global execution capabilities. He has achieved this by combining strategic direction with financial discipline, and the results have been unmistakable."
Mr. Lähdesmäki has served as Chair of Kitron’s Board since 2014. Under his leadership, Kitron has demonstrated strong financial performance and remarkable long-term value creation:
- Revenue from EUR 209 to EUR 720*
- EBIT margin from 1.5% to 8.7%*
- Market capitalization from EUR 37 million to EUR 1,290 million
“I am deeply honoured to receive the Chair of the Year award, not least because developing and raising the level of professional board work has been a major interest of mine throughout much of my career. I believe this background, in tandem with the strong management group at Kitron, has contributed to the tremendous long-term value creation of the company,” Mr. Lähdesmäki.
Mr. Lähdesmäki is a founding partner of Boardman Oy, the leading network developing active ownership and board work competencies in Finland. In addition to a number of senior management positions, he has served on the boards of more than 40 companies, including 13 listed companies.
The Chair of the Year award was first presented in 2000 and is administered by Styreinformasjon AS, an organisation dedicated to board governance and networking in the Norwegian and Nordic markets. The award process is supported by leadership and talent advisory firm Boyden.
These are the members of this year’s jury:
Anne Lise Meyer, Jury Chair, experienced board chair and CEO, Chair of Skeie Kapital AS, and board member of Bertel O. Steen Kapital, Sissener, Tekna ASA, and Pancom AS.
Berit Svendsen, VYgruppen AS, Chair of the Year 2023, Chair of Defendable AS, and board member of Nord-Trøndelag Elektrisitetsverk and Elliptic Laboratories ASA.
Thorhild Widvey, Chair of Vår Energi and the Bergen International Festival, Deputy Chair of the Offshore Northern Seas Foundation.
Gunnar Eckbo, Board analyst, founder of the award in 2000, Styreinformasjon AS.
Bjarne Kveim Lie, Founder & Managing Partner at Verdane, board member of the Fritt Ord foundation and the Norwegian Venture Capital & Private Equity Association.
Arild Spandow, Founder & CEO of Amesto Group, Founding Partner and Chair of Aprila Bank, and co-owner of the family company Spabo Group.
* Based on mid-point of company’s communicated outlook for 2025.
