Häkämies wants to "restore discipline" to state-owned companies

Welcomes resignation of Destia CEO

Jyri Häkämies

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Minister of Defence Jyri Häkämies (Nat. Coalition Party), who is also the minister responsible for matters related to state corporate ownership, feels that the rapid resignation of Jukka Laaksovirta, CEO of the infrastructure and construction service company Destia, is an indication of how the state deals with suspected wrongdoing.
      “We take these matters extremely seriously. It did not take more than an hour after the Destia case came out in public before work on a report on the events was initiated. The manner and the speed with which a reaction came, shows what our attitude is”, Häkämies says.
      However, Destia’s board received an anonymous tip on possible corruption by Laaksovirta, and of favouring those who were close to him already in the spring. At that time, Eeva-Liisa Virkkunen, the Chairwoman of the Board of Destia, did not react to the matter.
     
Nevertheless, Häkämies says that Virkkunen continues to enjoy the full confidence of the state as owner. On Laaksovirta’s departure, he would not say if it was really a resignation, or if the CEO had been effectively sacked.
      “The chair had a discussion with him, on the basis of which Laaksovirta made his own decision”, Häkämies explains.
      Laaksovirta asked to be relieved of his duties on Friday.
     
There have been uncertainties in a number of other companies in which the state holds stock about the attitude taken by the state representatives toward the granting of large stock option incentives and pension agreements.
      Although state approval was given to the incentive and pension arrangement, the state has later criticised the same agreements. Häkämies promised to impose stricter discipline in the matter.
      “With the new instructions, the stand taken by the state owner on bonuses and pensions will not be unclear to anybody.”
     
The new instructions are being drawn up in a working group headed by Markku Pohjola. The working group is to submit its report to Häkämies in two weeks’ time.
      “In nearly all companies in which the state is involved, there is always an audit by an accountant from the Finnish Institute of Authorised Public Accountants, even if the company is not a listed company. In addition, we have an inspection committee in all companies. Therefore, supervision is quite comprehensive.”
      In the view of Häkämies, the potential for wrongdoing is no greater in state-owned companies than in other companies.
      Häkämies does not want to take a stand on suspicions of criminal activities by the management of the state-owned weapons company Patria.
      As Minister of Defence, he has disqualified himself from decision-making concerning Patria.


Previously in HS International Edition:
  Pensions still high for executives in state-owned companies (18.5.2009)
  Government to re-examine incentive programmes for state-owned companies (1.4.2009)
  Patria CEO resigns amid ongoing NBI probes into bribery allegations (19.8.2008)
  Two Slovenian citizens wanted in Patria bribery case (8.5.2009)

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