My personal highest priority and responsibility at VEO is to ensure the company’s future liquidity.

Since December 2019, MBA Petri Mäkinen has been working intensively to learn essential information about VEO’s business operations, organisation, personnel and financial processes. As the new Chief Financial Officer, he wants to make sure that he has a good understanding of how things work at VEO. His positive preconception of VEO has been proven right in many respects.

“I’m convinced that we are in a business of the future that will grow rapidly as the world changes. VEO group has an excellent opportunity to grow in a sustainable and profitable way. I am also happy to see that communication between the people throughout the organisation is as open and easy as I imagined.”

Along with finalising the 2020 budget and preparing the 2019 annual report, Petri has spent the first months of 2020 reviewing the financial reporting processes, identifying the main areas of development in VEO’s finance organisation as well as enhancing cash flow monitoring.

“The effective monitoring of cash flow is even more vital today, especially now that we are in the middle of the covid-19 pandemic. My personal highest priority and responsibility at VEO is to ensure the company’s future liquidity.“

According to Petri Mäkinen, who has worked during his extensive career in global, regional and local country roles (in both publicly listed and private equity owned companies), his role as a corporate CFO and member of VEO’s executive team is a dream come true.

“It has always felt natural for me to describe reality with numbers. I wanted to contribute towards positive development and now I have a front-row ticket to a future business, an essential role in decision-making and an impact on VEO’s future. It’s time to show what I’m really good at.”

At the same time, the position at VEO introduces him to one element of business that he is eager to learn more about: the project business. He is already well aware that VEO’s ability to make customised turnkey deliveries is a huge competitive advantage. He also believes that the positive spirit, the uncomplicated and communicative working environment as well as the high skill and experience level within the company create the right foundations for a successful business.

“What we need for sustainable growth is even more in-depth information, a deeper understanding of the effects of our financial processes as well as our drivers. VEO’s most important short-term objective is to strengthen profitability in a sustainable way, and all of our actions and top projects are now targeted at that.”

VEO's CFO PetrI Mäkinen

A big change for Petri Mäkinen during the past month (due to the outbreak of the covid-19 crisis) is that he now works remotely from his home office in Nurmijärvi. The exceptional situation has put his spare-time activities in Vaasa with weekly Swedish studies and gym training on hold. Now, he is busy helping his wife and daughter with horses and jogging with the family’s dog. However, his work at VEO continues.

“The cooperation within the board, through daily video meetings and regular discussions with CEO Timo Ala-Heikkilä, have further intensified our internal communication and contact with each other. “At the moment, our production in Runsor is up and running, and we are working to prepare for every possible scenario.”