The CEO of Teollisuuden Voima is changing

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TVO has been producing electricity for its owners, Finnish industrial and energy companies, safely and reliably for over 40 years. OL3 was taken into commercial operation in April 2023 and has now been generating electricity for two operational periods. A final repository for used nuclear fuel, the world's first of its kind, is also under construction and commissioning at Olkiluoto.

– TVO's board greatly appreciates Jarmo Tanhua's significant contribution as the company's CEO since 2008, especially his determination in bringing the OL3-project construction project to completion. The construction and commissioning of the new nuclear power plant has required deep commitment and dedication, even through challenging times. The board is grateful for the close, excellent, and long-term collaboration with Tanhua, says Petra Lundström, Chair of TVO's Board.

- The future of TVO and nuclear power looks promising. All three of our plant units are steadily producing clean electricity. The exceptional expertise of our nuclear industry professionals, recognized across Europe, plays a key role in this. Posiva is also about to launch the world’s first final disposal of used nuclear fuel. TVO is therefore steadily moving into a new phase. At the same time, however, the electricity market is undergoing a major transformation, which requires a new approach from nuclear power producers. Now is a good time to pass the baton after 16 years as CEO, and therefore, together with the board, we have agreed on the CEO change," says Jarmo Tanhua, CEO of TVO.

TVO's board has initiated the recruitment of a new CEO. Tanhua will continue in his role as before, and the transition will take place in a controlled manner after the selection process. Tanhua considers it important that changes in a nuclear power company like TVO are made in an orderly fashion.

- For this reason, I am committed to continuing my work as CEO until my successor is ready to take over the position after receiving adequate orientation. I want to ensure that, from my side, the company's operations remain stable during this transition, prioritizing nuclear safety and reliable electricity production, Tanhua continues.

The board thanks Tanhua for his long-term work and strong commitment in implementing the change.

- TVO produce about 30 percent of Finland's electricity with the three plant units at Olkiluoto, safely, cleanly, and efficiently. Posiva's final disposal operations are also approaching the operational phase. Nuclear safety, business-oriented leadership, and efficient operations in a fluctuating electricity market are key themes in the management of TVO now and in the future," Lundström continues.

For further information, please contact:
Johanna Aho, Head of Communications, tel. +358 40 729 0822