BOARD OF DIRECTORS

Ari Tiukkanen, born in 1961 in Finland, has been the Chairman of the Board of Directors since 2023. Ari joined the Company in 2015 and prior to his current position, he was the Deputy Chief Executive Officer. He studied industrial engineering at Jyväskylä University of Applied Sciences and graduated as BSc (engineering) 1986. His management experience includes serving as a head of Building & Industry business at Metsä Wood from 2012 to 2015, as CEO of Icare Finland / Revenio Group from 2008 to 2012, as commercial director of Paloheimo Group from 2006 to 2008, as head of Building Products business line at Finnforest from 1999 to 2006, as various management positions at Halton Group from 1992 to 1999.

Directly and indirectly, as of 31 December 2023, Ari Tiukkanen holds 18,338 shares and/or options in the Company. He is not independent of the Company and is independent of the significant shareholders.

Goutam Challagalla, born 1964 in India and a US citizen, has been a member of the Board of Directors since 2019. He studied Economics and Mathematics at Osmania University, Hyderabad, India. Goutam is a Professor of Strategy and Marketing at IMD, Lausanne, Switzerland. Prior to IMD, he spent 20 years as a professor at Georgia Tech in Atlanta, USA. He also worked as Principal at The Monitor Group, a strategy consulting company in Boston. At IMD, he is Faculty Director of the Digital Marketing Strategy program and several custom programs for B2B and B2C clients. His teaching, consulting, and research focuses on strategy with an emphasis on digital transformation, business-to-business commercial management, value-based pricing, sales management, distribution channels, and customer and service excellence. His research has been published in top marketing and management journals such as Journal of Marketing, Journal of Marketing Research, Management Science, Strategic Management Journal, and the Journal of Applied Psychology. He is a recipient of the Maynard Award, which is given to the best paper in the Journal of Marketing (2015). His PhD is from the University of Texas, Austin, USA.

Goutam Challagalla holds, as of 31 December 2023, directly or indirectly no shares and/or options in the Company. He is independent of the Company and independent of the significant shareholders.

Kristiina Leppänen, born in 1969, has been a member of the Board of Directors since 2022. She has been working in senior financial and leadership positions for over 25 years and has an extensive CFO background in global industrial companies. Since April 2023, she is Group CFO of The Infinigate Group, the value-add distributor of cybersecurity, secure network, and secure cloud headquartered in Zug, Switzerland. For the past 3 years was Kristiina Group CFO of Enics, a leading global service provider in electronics manufacturing, where she was responsible for Finance and Controlling, Treasury, Risk Management, IT, Legal Affairs, and Corporate Development. Prior to joining Enics, she spent over four years in charge of Finance and Investor Relations as Cavotec CFO in Switzerland, and almost 5 years as Group CFO of GS Hydro Group in Finland. She holds an MBA in International Finance from the Helsinki School of Economics.

Directly and indirectly, as of 31 December 2023, Kristiina Leppänen holds 1,300 shares and/or options in the Company. She is independent of the Company and independent of the significant shareholders.

Marion Khüny, born in 1969 and an Austrian citizen, has been a member of the Board of Directors since 2024. She has been working in senior financial and leadership positions within the fields of commercial and investment banking and portfolio management for over 30 years. During that time, she has also gained extensive experience in supervisory board governance and risk management. Since May 2022, she has been a member of the supervisory board at Valiant Holding AG, where she also serves on the Audit and Risk Committee. She is also a supervisory board member at Erste Group Bank AG, where she serves also on the risk, audit, and IT committees. Additionally, she has held a number of other significant roles in the banking sector. She holds a Diploma Degree in International Business Administration from the Leopold-Franzens-Universität in Austria.

Marion is independent of the Company and independent of the significant shareholders.

Jorma Jokela, born in 1979 in Finland, is the founder of Multitude. He studied accounting at the Commercial College of Kuopio and the Helsinki Business College and later earned an Executive MBA from IMD Business School in Lausanne, Switzerland.

Jorma began his entrepreneurial journey by founding Jokela Capital Oy in Helsinki, where he served as CEO from 1998 to 2000 before selling the business in 2004. In 2005, he founded Multitude, serving as its CEO and a member of the Board of Directors for nearly two decades. Under his leadership, Multitude has grown from a startup to a global fintech company.

On 1 January 2025, Jokela transitioned from his role as CEO to focus full-time on strategic initiatives within the Group’s subsidiaries. His work includes high-impact projects, partnerships, acquisitions, and mentoring key talent. Jokela continues to serve on the Board of Directors for both Multitude Group and Multitude Bank p.l.c., playing a vital role in steering the company’s vision and growth. He is also a board member of JT Capital Limited, Jokela Capital OÜ, and Jokela Capital Oy. 

Jorma Jokela holds, as of 31 December 2023, directly and indirectly, 12,010,961 shares in the Company. Jorma Jokela is not independent of the Company and not independent of the significant shareholders.

Lea Liigus, born 1972 in Estonia, is the Head of Legal and Compliance of Multitude. She has been a member of the Board of Directors since 2006. She studied law at the University of Tartu in Estonia and completed Master of Laws (LL.M) Programme in Contract and Commercial Law at the University of Helsinki in Finland. Before she joined Multitude in 2006, she worked as a lecturer for Commercial Law and EU law at the Estonian Business School in Tallinn and as an attorney-at-law specialised in commercial, financial law and EU law at Sorainen Law Offices in Estonia.

Lea Liigus holds, as of 31 December 2023, directly and indirectly 127,396 shares and/or options in the Company. Lea Liigus is not independent of the Company and is independent of the significant shareholders.