Jussi Rautiainen is a Board Member of Irish-based hard-rock drilling supplier Mincon Group Plc, and Finnish industrial and marine paints manufacturer Nor-Maali. Prior to becoming a board member, Rautiainen had an extensive career in both marketing and general management, for example as CEO of Robit Plc from 2005 to 2015.
When Rautiainen decided to turn a new leaf in his career and become a board member, he took part in two Aalto EE programs back-to-back: Board of Directors and Finance for Non-Finance Executives.
“Finance was always part of my job throughout the years that I worked as a Marketing Director and CEO, but I had never had in-depth financial training. Finance for Non-Finance Executives program was an extremely rewarding experience, and it gave me a much more comprehensive understanding of finance,” Rautiainen explains.
The five-day program covers all key aspects of financial analysis and value based management.
“The program was like a shock treatment into finance, in the best possible way. I was all smiles on Friday when the program came to an end. I got a lot out of the experience, and I have revisited my notes many times afterwards. The content was first-class,” Rautiainen underlines.
Rautiainen says he could name a myriad of topics covered during the program that he found beneficial.
The program was like a shock treatment into finance, in the best possible way."
“Understanding cash flow, discounting, net present value, market value, calculating future cash flow – these are just a few examples. The teaching was top-notch and we had extremely good exercises to drive the lessons home,” Rautiainen points out.
For Rautiainen, growth has always been a primary target at work; as a marketing director, as a CEO, and now as a board member.
“I have always felt that if a company is not growing – be it growth in sales, profitability, or market share – something is wrong. The program gave me many ideas about how to drive growth even better in years to come,” he mentions.
“The insights I learned about acquisitions, for example, were invaluable. I gained useful tools for analyzing mergers and acquisitions, studied calculating how synergy benefits can impact future cash flow, and also learned valuable lessons about opportunities for financing acquisitions,” Rautiainen describes.
Rautiainen says he was especially pleased with Professor Matti Suominen, who taught the program.
“I have nothing but the highest praise for him. Thanks to Matti, the entire program was extremely invigorating. He used excellent examples, and he had a marvelous way of explaining things,” Rautiainen remarks.
Rautiainen says that above all, the program gave him a new level of confidence.
“The program strengthened my ability to discuss the value of a company. I am much more confident in asking finance related questions and challenging issues. I don’t need to know how to crunch the numbers, but I do need to know how to pose the right questions to decide if an acquisition would be beneficial. The lessons I learned will be highly beneficial in board work,” he asserts.
Rautiainen emphasizes that all senior executives should learn the ropes of finance, and says that he is happy to recommend the program.
The program strengthened my ability to discuss the value of a company. I am much more confident in asking finance related questions and challenging issues."
“I know many CEOs and other senior executives who are extremely talented in their own work, but who trust most financial matters to their controllers. I think every senior executive should invest in gaining a more comprehensive understanding of finance, to fully grasp all the relevant techniques that can be used to evaluate investment opportunities,” he ponders.
“I highly recommend participating in Aalto EE’s Finance for Non-Finance Executives program. It is an excellent opportunity for everyone involved in acquisitions, or anyone who simply wishes to gain a broader understanding of financial management,” Rautiainen concludes.
Finance for Non-Finance Executives Program
Since this interview was conducted, Jussi Rautiainen has moved on to another position at Mincon Group.