Management, Board of Directors, subsidiaries and associated companies
Our activities are guided by the Management Team and Board of Directors. Our Foundation also has a subsidiary, Baltic Sea Services Oy.
Management team
The Foundation’s operations are directed by the CEO with support from the Management Team. The Management Team is chaired by Annamari Arrakoski-Engardt (CEO), with its other members being Ulla Rosenström (Marine Environment Director), Erkki Salo (Fundraising Director) and Elina Lehtinen (Communications Director).
The Foundation’s rules were revised in 2025. This revision clarified a number of points, including the Board’s decision-making authority and the procedures for reviewing meeting minutes.
Board
The Board of Directors is responsible for carrying out the Foundation’s mission, organising its activities and managing its assets. The 2025 Board of Directors consisted of:
- Tommi Juusela (Chair), Master of Laws (Columbia University)
- Kaisa Olkkonen (Vice Chair), Master of Laws
- Admiral Jukka Anteroinen, Doctor of Military Sciences
- Emilie Gardberg, MA (Columbia University)
- Seppo Knuuttila, Master of Maritime Management
- Juha Nurminen, MSc (Econ.)
- Professor Markku Ollikainen
- Kristian Pullola, MSc (Econ.)
- Marja-Leena Rinkineva, Master of Laws, MSocSc, eMBA
In 2025, the Board met seven times and held four email meetings. The Audit and Risk Committee, which was established by the Board, met twice. This Committee is chaired by Board member Kristian Pullola. Its other members are Tommi Juusela (Chair of the Board), Kaisa Olkkonen (Vice Chair of the Board) and Annamari Arrakoski-Engardt (CEO).
In 2025, the Foundation’s CEO and members of the Board of Directors were paid a total of EUR 181,871 in salaries and fees (EUR 197,078 in 2024). Not all of the Board members accepted remuneration for their board work. The Chair and Vice Chair of the Foundation’s Board have compared the Foundation’s board work and meeting fees to those paid by other foundations, associations and companies; and on the basis of this analysis, the Board considers them to be standard.
Subsidiaries and associated companies
Baltic Sea Services Oy
Baltic Sea Services Oy is a wholly owned subsidiary that was established by the John Nurminen Foundation in 2020. The company focuses on selling the books published by the Foundation and products related to archipelago life. It also develops services and business activities to support the Foundation’s work. The company employed a part-time sales manager during the financial year. Books and products were sold through the company’s own online store, at events (such as the Helsinki Book Fair, Baltic Sea Day and Christmas markets), and via retailers.
The company achieved its sales target for the year (actual: EUR 137,375, target: EUR 124,000). Operating expenses were largely in line with the budget. The company issued a credit note to Sanoma Media Finland for the right to use the John Nurminen Foundation’s marketing materials in joint brand advertising campaigns run by John Nurminen Foundation and HS.
The company achieved its sales target for the year (result: EUR 137,375). Operating expenses were largely in line with the budget. The company’s result was a loss of EUR 106,093 (a loss of EUR 128,081 in 2024). In 2024, Baltic Sea Services Oy was granted a subordinated loan of EUR 100,000 to cover its operational costs, of which EUR 80,000 was paid during the financial year. On the financial statement date (31 December 2025), the Foundation had receivables from Baltic Sea Services Oy totalling EUR 256,417 (EUR 176,417 in 2024). Baltic Sea Services Oy has been fully integrated into the consolidated income statement in the “Maritime culture” category under ordinary activities.
Yhteinen perintö Oy
Yhteinen perintö Oy was a social enterprise established by FMA Creations Oy and the John Nurminen Foundation in 2019. Its mission was to develop and promote the availability of cultural heritage materials via the digimuseo.fi service. The company’s business was sold to Step Technologies Oy in a business transaction completed on 30 May 2024, and the company’s Board of Directors decided to wind up operations during liquidation proceedings in 2025. The company’s final accounts were drawn up on 6 December 2025.
Related-party transactions
The Foundation has not granted any loans or grants to related parties, with the exception of some ordinary loans to subsidiaries and associated companies. All transactions between related parties take place at fair value and on market terms in the best interests of the Foundation. Related-party activities are documented with agreements. You can read more about related-party transactions in the Notes to the Financial Statements.