Valkee Ltd, Elisa Oyj and TEKES: Good Old Boys at Work

Valkee Ltd’s previous CEO Pekka Somerto has a new job, he tells at LinkedIn: Business Development Director at Elisa Oyj, a major finnish operator traded at the Helsinki stock exchange.

I won’t again talk about what I call his competitive relation with the truth, which he has publicly demonstrated at several occasions. I am just wondering how they took into account his performance as CEO of Valkee Ltd. Here the figure for his tenure, quite exactly that specific interval.

Valkee results in Pekka's tenure

Nothing against the new job. He is qualified. But at Elisa’s board of directors is Petteri Koponen. In the specific sub-commitee he is responsible for recruitment to the leading posts in the Corporation.

Koponen is founding partner of LifeLine Ventures, together with Timo Ahopelto, Valkee’s chairman. LifeLine is the lead investor in Valkee.

Ahopelto again is at the board of the tax-funded TEKES agency. And the biggest single Investment of TEKES goes into … LifeLine Ventures. As well as most of it investments. TEKES again has poured millions into Valkee.

Corporate governance, Finland style.

***

Personal note: To my knowledge, Valkee’s leaders have told investors and others, that I am a malicious person with an agenda to bring down Valkee. I may advise Elisa Oyj to look rather at the company turned down by a blogger, not at the blogger who turned the company down.

I have no specific hatred towards Somerto.

 

 

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