On Wednesday, Oma Säästöpankki made the shocking announcement that CEO Pasi Sydänlammi had been terminated and appointed Sarianna Liiri as the temporary CEO. This decision came after the bank issued a negative profit warning due to issues related to the formation of customer entities. An investigation into these matters is ongoing, including a police inquiry.
During a press conference, Chairman of the Board Jaakko Ossa acknowledged Sydänlammi’s contributions in turning a small rural bank into a listed company but noted that the bank’s risk management had failed. The internal activities of Oma Säästöpankki were deemed insufficient, allowing activities contrary to instructions to go unnoticed.
The bank’s share price dropped by 6.55 percent following the announcement. In addition to the CEO change, the bank also announced the composition of the shareholders’ nomination committee and the audit committee. The nomination committee includes representatives of the five largest shareholders, while the audit committee will assist the board in financial reporting, auditing, and risk management.
OmaSp’s board will initiate the process of finding a new CEO promptly. Despite the ongoing challenges faced by the bank, Ossa expressed confidence in the future and emphasized the importance of adhering to guidelines and improving risk management practices. The board is committed to ensuring that all issues are thoroughly investigated and resolved before moving forward with any decisions regarding leadership or strategy changes at Oma Säästöpankki.
