Finland’s state operator Veikkaus has announced Ilkka Kosola as its new Chief Financial Officer (CFO) to help guide the firm through the major market changes in 2027.
Next year will see the Finnish market re-regulated in favour of an online licensed regime, with the Veikkaus monopoly largely remaining in history.
However, the operator will retain exclusive control over the country’s lottery products and scratch cards, as well as physical slot machines.
To stay commercially viable in this new market landscape, Veikkaus has initiated its 2030 strategy, which would ensure its business model remains competitive and efficient.
With a mandate starting later in September, Kosola will play a direct role in bringing this vision into fruition, overseeing tighter financial controls and improved capital efficiency.
Veikkaus Chief Executive Officer, Olli Sarekoski, commented: “Ilkka’s broad and international experience in leading finance and IT functions, combined with his proven ability to drive change and execute strategic transactions, makes him an excellent fit for Veikkaus as we navigate this period of significant transformation.
“We are confident that his expertise will be a great asset to our company and our executive management team as we work towards our strategic goals for 2030.”
Kosola carries previous senior experience with companies like Adven Group, TietoEVRY, Basware and Fortum, where he was a key figure in creating viable financial structures complemented by advanced technologies like AI.
On his own appointment, Kosola said: “I am thrilled to be joining the Veikkaus team and to have the opportunity to contribute to the next chapter of this iconic Finnish company.
“Veikkaus is at a pivotal point in its history, and I am eager to apply my experience to support the company’s transformation and the execution of its new strategy in the opening license market.”
The appointment comes shortly after the Veikkaus AGM in March, when the operator confirmed its Board of Directors lineup – with Kaisa Olkonnen remaining as Chair.
With the new structure in place, Veikkaus will aim to align efficient governance with profitable financial strategy to prepare for the upcoming commercial pressures of a new market reality.