New CFO will begin his new role by the end of September and replaces Regina Sippel, who stepped down in March
Finnish state-owned lottery and gaming operator Veikkaus has appointed Ilkka Kosola as its next chief financial officer (CFO).
Kosola will join the company’s executive management team and assume his new role before the end of September, succeeding Regina Sippel, who left the company in March.
Kosola will play a significant part in Veikkaus’ ongoing transformation as the company prepares for the new competitive gambling market in Finland, which opens next year.
He joins Veikkaus from Helsinki-based technology provider Reaktor, where he served as group CFO since August 2022. Prior to that he was CFO at energy company Adven Group and also worked for the likes of TietoEvery, Basware, and Fortum.
“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,” said Veikkaus CEO and president Olli Sarekoski. “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.”
Commenting on his 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.”
Veikkaus’ exclusive right to offer sports betting and online casino gaming in Finland is set to come to an end next year when the gaming market re-regulates. The new market will see sports betting, online casino, online bingo and online slot games move to a multi-licensing system.
Veikkaus will retain the exclusive right to lottery games, as well as physical gaming machines and casinos.