Risto Salminen appointed as CEO of Teosto
Teosto’s Board of Directors has appointed Risto Salminen (LL.M. Trained on the Bench, EMBA) as the CEO of Teosto. Salminen has previously worked at Teosto as Executive Vice President and, since June 2018, as acting CEO. Salminen takes up his post as CEO with immediate effect.
“Risto already has extensive industry networks in Finland and Europe along with comprehensive experience and insight related to the effective management of music copyright. The change of CEO is aimed at finding a new direction and new operating methods for Teosto. I believe that Risto’s excellent industry experience, combined with his drive to renew our operations and make bold new moves, will provide an excellent foundation for Teosto’s future development,” says Kim Kuusi, Chairman of Teosto’s Board of Directors, regarding the appointment of the new CEO.
Aiming to provide flexible services and facilitate an effective music market
As the newly appointed CEO, Risto Salminen sees Teosto as an organisation in a period of transformation.
“The music and content markets have become fragmented but, at the same time, people consume more music than ever before. For music authors and publishers, this has meant that their revenues and royalties consist of small streams around the world, which makes them difficult to manage. Teosto has 90 years of experience in rights management. I am confident that our extensive experience and expertise, combined with our international network, will ensure that we will continue to be the best partner for music authors and publishers in the future, helping them manage the royalties they earn from the consumption of their music. At the same time, the fragmented market and its rapid digital transformation demand that we continue to further develop our operations,” Risto Salminen says.
“Teosto’s strength lies in its leading expertise in the area of music copyright. We have highly competent personnel and our repertoire consists of the best music content in Finland. I believe that the key to our success and the source of our future competitive advantage is to be actively engaged in music industry networks and making effective use of these networks to benefit our customers. Our focus must be on providing up-to-date and flexible services for our customers,” Salminen adds.
For more information, please contact:
Risto Salminen, CEO, email@example.com, tel. +358 40 844 5984
Jenni Pekkinen, Communications Director, firstname.lastname@example.org, tel. +358 50 582 4323
Music authors and publishers founded Teosto in 1928. At Teosto, we work actively to ensure that in Finland all the requirements exist to make music professionally, and that music is played now and in the future. We collect royalties from music users and distribute them to authors and publishers. In other words, we ensure that everyone has easy and legal access to music and the opportunity to use music to promote their business. This has been our mission for 90 years already. For the love of music.
Teosto represents 33,000 Finnish and around three million international composers, lyricists, arrangers and publishers of music. Royalties paid by Teosto to music authors and publishers amounted to 59.8 million euros in 2017.