toimitusjohtamisen

Toimitusjohtamisen refers to the management practice and role of the toimitusjohtaja (CEO) within a Finnish company. It covers the leadership and coordination of the organization at the executive level, including the implementation of strategy approved by the board. The term is commonly used to describe how a company is led and operated in practice.

Role and responsibilities: The CEO leads the executive team, develops strategic plans, allocates resources, and oversees day-to-day operations. Key duties include monitoring financial performance, managing risk and compliance, guiding organizational culture, and ensuring effective internal controls. The CEO serves as the primary link between the board and management, reporting on performance, executing board decisions, and communicating with shareholders and other stakeholders. The specific scope of authority is defined by the company’s Articles of Association and the board’s instructions.

Governance and legal framework: In Finland, day-to-day management is typically delegated to the CEO by the board, in accordance with the Osakeyhtiölaki (Limited Liability Companies Act) and corporate governance norms. The board sets long-term strategy and major policies, while the CEO is responsible for their execution. Appointment and removal of the CEO are usually decided by the board. In some governance models, the CEO may also sit on the board; in others, the board operates separately from management.

Scope and variation: The practice of toimitusjohtaminen varies with company size, ownership, and sector. In smaller or family-owned firms, the CEO may perform broader operational duties; in large publicly held companies, governance tends to feature a clearer formal separation between board oversight and executive management. Overall, toimitusjohtaminen reflects how leadership, strategy, and operations are integrated to create value within the corporate framework.