OP Financial Group's central cooperative (OP Cooperative) held its Annual Cooperative Meeting 20 March 2014. Of the members who were due to resign, Managing Director Vesa Lehikoinen, Professor Jaakko Pehkonen, Managing Director Ari Kakkori, Principal Seppo Laaninen, Senior Nursing Officer Marita Marttila and Chairman of the Board of Directors Timo Parmasuo were re-elected for the term ending in 2017 as Supervisory Board members. Development Secretary Raita Joutsensaari was elected to the Supervisory Board for the remaining term of 2014–15 to replace Professor Paavo Pelkonen, who will resign due to the upper age limit set for Supervisory Board members, while Managing Director Ari Väänänen was elected for the remaining term of 2014–15 to replace Managing Director Seppo Pääkkö who had requested resignation from the Supervisory Board. The Supervisory Board comprises 33 members.
At its first meeting following election, the Supervisory Board elected Professor Jaakko Pehkonen as Chairman and Senior Lecturer Mervi Väisänen and Managing Director Vesa Lehikoinen as Vice Chairmen.
KPMG Oy Ab, a firm of authorised public accountants, was appointed as the company's auditor, with authorised public accountant Raija-Leena Hankonen as the Chief Auditor.
The core of the new management system of OP Cooperative Consolidated consists of three business segments: Banking, Non-life Insurance and Wealth Management.
As part of this management reorganisation, in spring 2014 the Supervisory Board appointed the following Executive Board members, effective as of 1 October 2014:
Karhinen Reijo, Executive Chairman and CEO, Chairman
Vepsäläinen Tony, Group Services, Vice Chairman
Geber-Teir Carina, Identity and Communications
Himanen Jari, Group Control
Lehtilä Olli, Non-life Insurance
Luhtala Harri, Finance and ALM
Nummela Harri, Wealth Management
Palmén Erik, Risk Management
Pölönen Jouko, Banking
Sarajärvi Teija, HR
Markku Koponen will continue to act as Executive Board secretary and deputy Executive Board member in charge of legal affairs.
OP Cooperative's Executive Board and Pohjola Bank plc's ("Pohjola") Board of Directors approved on 16 December 2014 OP Financial Group's Group-level Communications and Disclosure Policy. This replaces the Disclosure Policy issued by Pohjola on 17 December 2013. The Communications and Disclosure Policy has been published on OP Financial Group website op.fi > OP Financial Group > Corporate Governance.