Members of the Board of Directors

Waleed Elgohary

Chair of the Board of Directors
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Chair of the Board of Directors, Chair of the M&A Committee, Chair of the Remuneration Committee

Born 1976, JD and MBA from Richard Ivey school of Business and the University of Western Ontario. BA degrees in Mechanical Engineering and Biology from McMaster University, Canadian citizen.

Partner, Apollo Global Management

Independent of Purmo Group Plc, dependent of a significant shareholder of Purmo Group Plc as he is a Director in Project Grand Bidco (UK) Limited.

Career history:

  • Apollo Global Management, Partner in Climate and Impact investing private equity (2023–)
  • CPP Investments, Managing Director, (2016–2023)
  • Capstone Infrastructure Corporation, SVP, Asset Management, (2015–2016)
  • Enwave Energy Corporation, SVP, Operations and Corp Secretary (2013–2015)
  • McCarthy Tetrault, associate in Corporate and Energy Law, (2010–2013)
  • Pratt & Whitney Canada, Fluid Systems Engineer, (2000–2007)

Current positions of trust:

  • Purmo Group Plc, member of the Board (2024–)
  • AS Graanul Invest, member of the Board (2023–)

Trevor Mills

Member of the Board of Directors
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Member of the Board of Directors, Member of the M&A Committee, Member of the Remuneration Committee

Born 1966, BA (Comms) & LLB (JD), US citizen

Partner, Apollo Global Management

Independent of Purmo Group Plc, dependent of a significant shareholder of Purmo Group Plc as he has an employment relationship with a party who exercises indirect control in Project Grand Bidco (UK) Limited.

Career history:

  • Apollo Global Management, Partner in Infrastructure Equity, (2012–)
  • General Manager, RIO TINTO (2006–2008)
  • VP, Bechtel (1997–2005)
  • Member of the Board: IonicBlue, Celeros, Great Bay Renewables, Caledonia, Yondr and FlexGen.

Current positions of trust:

  • Purmo Group Plc, member of the Board (2024–)
  • AIE Caledonia Holdings LLC, member of the Board (2022–)
  • Great Bay Renewables Holdings, LLC, member of the Board (2022–)
  • FlexGen Power Systems, Inc., member of the Board (2021–)
  • IonicBlue Partners LLC, member of the Board (2021–)
  • Celeros Flow Technology LLC, member of the Board (2020–)

Jordan Lubkeman

Member of the Board of Directors
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Member of the Board of Directors, Member of the Audit Committee, Member of the Remuneration Committee

Born 1993, BA (Ecology), US citizen

Principal, Apollo Global Management

Independent of Purmo Group Plc, dependent of a significant shareholder of Purmo Group Plc as she is a Director in Project Grand Bidco (UK) Limited.

Career history:

  • Apollo Global Management, Principal in climate and impact investing private equity (2018–)
  • Credit Suisse, analyst (2016 – 2018)

Current positions of trust:

  • Purmo Group Plc, member of the Board (2024–)
  • United Living Holdings Limited, member of the Board (2023–)
  • CareerBuilder LLC, member of the Board (2022–)
  • Reno de Medici s.p.A., member of the Board (2021–)

John Peter Leesi

Member of the Board of Directors
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Member of the Board of Directors, Member of the M&A Committee, Member of the Audit Committee

Chief Executive Officer of Purmo Group Plc

Born 1961, BBA (with advanced studies in international finance), Swedish citizen

Dependent of Purmo Group Plc, where he is the CEO. Independent of significant shareholders of Purmo Group Plc.

Career history:

  • CEO and President, Munters Group 2014–2019
  • CEO and President, Luvata Group 2005–2014
  • CFO, Corporate Vice President and Head of Strategy, Legal, IS/IT and IPR, Sony Ericsson 2001–2005
  • CFO and various senior leadership positions, Ericsson 1997–2001

Current positions of trust:

  • Purmo Group Plc, member of the Board (2024–)
  • Polarium Energy Solutions AB, member of the Board (2024–)

Prior positions of trust:

  • Polarium Energy Solutions AB, member of the Board (2017–2021)
  • Luvata Oy, Chairman of the Board (2014–2017)
  • Munters AB, Chairman of the Board (2012–2015)

Matts Rosenberg

Member of the Board of Directors
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Member of the Board of Directors, Chair of the Audit Committee, Member of the M&A Committee

Born 1977. Ph.D. (Econ.), Finnish citizen

Independent of Purmo Group Plc, dependent of a significant shareholder of Purmo Group Plc as he is a Director in Project Grand Bidco (UK) Limited.

Career history:

• CEO, Rettig Group (2019–)
• Interim CFO, Purmo Group Plc (2023)
• Deputy CEO & Head of Core Investments, Rettig Group (2018–2019)
• COO, Rettig Group (2016–2018)
• Deputy CEO & CFO, Fortaco Group (2014–2016)
• Investment Professional, IK Partners (2005–2013)

Current positions of trust:

• Purmo Group Plc, member of the Board (2024–)
• Aktia Bank Plc, member of the Board, member of the Audit Committee and member of the Remuneration and Corporate Governance Committee (2024–)
• Terveystalo Plc, Vice Chair of the Board and member of the Audit Committee (2022–)

Prior positions of trust:

• Purmo Group Ltd, member of the Board (2016–2021)
• Nordkalk Corporation, Chair of the Board (2018–2021) and member of the Board (2016–2018)
• Alandia Försäkring, Chair of the Board (2020–2021)

Board of Directors

The Board comprises of 3-10 members. The Annual General Meeting elects the members of the Board, including the Chairman and the Vice Chairman of the Board. The Board convenes in accordance with a schedule agreed in advance and also as required.

The Board deals with all matters pertaining to its area of responsibility in accordance with Finnish law, the Articles of Association, the Finnish Corporate Governance Code, the rules of Nasdaq Helsinki Ltd as well as other rules and regulations applicable to publicly listed companies in Finland.

The Board is responsible for:

  • The administration of the company and the appropriate organisation of its operations
  • The appropriate arrangement of the supervision of the company’s accounts and finances
  • Decisions on company wide significant matters of principal importance
  • Appointing and dismissing the CEO, supervising their actions, and deciding on their remuneration and other terms and conditions of service
  • Making decisions on the strategy, investments, organisation and financial affairs of the company
Charter of the Board of Directors

Board committees

The Board may establish specific committees to assist the Board in the preparation and performance of the Board’s duties and responsibilities and determine their sizes, compositions and tasks. The Board committees do not have independent decision-making authority in matters within the authority of the Board, but they assist the Board by preparing such matters.

Audit committee

The Audit Committee shall have a minimum of three (3) members. The majority of the committee members must be independent of the company, and at least one must be independent of the company’s significant shareholders. The committee as a whole must have the expertise and experience required for the performance of the duties and responsibilities of the committee.

Key responsibilities:

  • Assists the Board in fulfilling its oversight responsibilities of the company’s financial reporting process and in monitoring the statutory audit of the company.
  • Assists the Board in its oversight of matters pertaining to financial reporting, internal control, internal audit, risk management, and related party transactions, and by making proposals on such matters to the Board.
  • In addition, the duties of the Audit Committee include preparatory work on the decision on electing the auditor. Also, the Audit Committee monitors the efficiency of the system of internal control and risk management, and the audit process.

Furthermore, the duties of the Audit Committee include monitoring the quality and integrity of the interim and half-yearly reports and the financial statements.

Members of the Audit Committee: Matts Rosenberg (the Chair of the Audit Committee), Jordan Lubkeman and John Peter Leesi.

Charter of the Audit Committee

M&A committee

The Mergers and Acquisitions (M&A) Committee shall have a minimum of three (3) members. The Committee members shall have the expertise and experience required for the performance of the Committee duties and responsibilities.

Key responsibilities:

  • Reviews with management and the Board the role of M&A within the Company’s overall growth strategy.
  • Provides advise to management regarding the Company’s various strategic alternatives and funding structures for relevant acquisitions.
  • Reviews material mergers, acquisitions, dispositions or other potential transactions, among other things.

Members of the M&A Committee: Waleed Elgohary (the Chair of the M&A Committee), Trevor Mills, Matts Rosenberg and John Peter Leesi.

Charter of the M&A Committee

Remuneration committee

The Remuneration Committee shall have a minimum of three (3) members. The majority of the committee members must be independent of the company. The Company’s CEO or any other executive director may not be a member of the Committee. The committee members must have the expertise and experience required for the performance of the duties and responsibilities of the committee.

Key responsibilities:

  • Prepares matters pertaining to the remuneration of the CEO and other members of the Leadership Team, appointment of the CEO as well as the remuneration principles observed by the Company.
  • Prepares the remuneration policy and remuneration report of the Company’s corporate bodies, among others.

Members of the Remuneration Committee: Waleed Elgohary (the Chair of the Remuneration Committee), Jordan Lubkeman and Trevor Mills.

Charter of the Remuneration Committee

Purmo Group Plc

Bulevardi 46
P.O. Box 115
FI-00121 Helsinki
Finland

tel: +358 9 6188 3188
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