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Nordic companies are increasingly known for their innovation, strong corporate governance, and international success stories. From Supercell and Spotify to KONE, Volvo, and IKEA, the region has proven its global competitiveness.
But despite thriving abroad, many Nordic companies still lack international representation at the board level—a gap that could undermine future growth.
It’s time for a boardroom shift.
Global Markets Need Global Perspectives
Nordic businesses are no longer just regional champions—they’re global operators. Expanding into new markets means navigating different regulatory landscapes, customer behaviors, and cultural expectations. That requires board members with lived experience beyond the Nordics.
With the right global voices at the table, companies can anticipate international trends, shape adaptive strategies, and stay compliant and competitive across borders. Cross-cultural insight is no longer optional—it’s a strategic advantage.
“An internationally experienced board is not just about diversity—it’s about foresight, preparedness, and resilience,” says Tarja Ilvonen, Senior Headhunter, Head of Board Competencies, InHunt Group. “In a world where complexity is the norm, boards need members who’ve seen and solved challenges in different markets.”
“Also establishing an Advisory Board to work alongside Board of Directors and management team can be a good idea,” says Ilvonen. This approach is particularly advantageous for companies pursuing growth strategies in specific regions or countries abroad. An Advisory Board composed of local members offers valuable insights into the market and possesses extensive networks, thereby supporting strategic expansion.
“Our key market area for Taito Learning is the US, which provides already over 60% of the revenue,” says Esa Matikainen, Chairman of the Board of Directors of Taito Learning. “During last fall we changed our Advisory Board structure to US experts. While having a Finnish board, we are able to utilize the Advisory Board as a sounding board to reflect any issues that we encounter while growing in the US market. For us it was easier, and also more cost effective, to collect the needed competence and first-hand US market experience into an Advisory Board with a sole focus on US expansion, rather than into the Board of Directors with all the other board duties in a country that they are not so familiar with.”
Diverse Boards Drive Better Innovation
Research from the Nordic Institute for Studies in Innovation (NIFU) shows that companies with more diverse leadership are more likely to outperform their peers on innovation metrics and long-term value creation.
International board members bring:
- Fresh thinking
- Constructive challenges to groupthink
- Alternative approaches to problem-solving
Diversity at the board level improves not only governance and risk management but also creativity and agility—traits every growth company needs.
Strategic Global Insight Fuels Smarter Expansion
Whether entering a new market, scaling operations, or facing unfamiliar regulatory environments, companies benefit immensely from board members who have “been there.”
Especially for SMEs and scaleups, having directors with global scale-up experience reduces risks, accelerates learning curves, and ensures that bold growth moves are well-grounded in insight.
Fill Talent Gaps and Unlock New Capabilities
The Nordic region has deep pools of talent—but its size is limited. By opening up board recruitment internationally, companies gain access to valuable expertise in areas like:
- Cybersecurity and AI
- Global finance and capital markets
- Green energy and sustainability
- Healthcare and life sciences
Boards can’t afford to fall behind. International appointments allow Nordic companies to stay ahead of emerging challenges and opportunities.
“The boardroom should reflect the world it serves. When boards are more diverse, decisions are sharper, strategies are more resilient, and companies are better equipped to deliver value for all stakeholders,” says Christine Richter, PhD MBA, Board-ready C-level Executive. “Boardrooms are strategic assets. Diversity isn’t about optics—it’s about equipping companies with the breadth of perspective needed to navigate global complexity and drive sustainable growth. It’s a catalyst for better decisions, stronger governance, and sustainable growth.”
“Achieving new heights or volumes requires courage and resilience, and strategic decisions regarding change are made within the Boardroom,” states Tarja Ilvonen. “To ensure high quality and effective decision-making, assembling a diverse and experienced Board is crucial. Having members with varied backgrounds and extensive relevant expertise fosters also continuous collective learning.”
Kristiina Leppänen, Group CFO Infinigate AG, Cybersecurity Trusted Advisor: “As the Group CFO in global dynamic companies, backed by Private Equity, I’ve witnessed the power of diverse boards to overcome challenges and drive value creation across several industries. It is proven that boardrooms with extensive global experiences, a mix of backgrounds and cultures, bring enormous knowhow and credibility to unlock new opportunities and drive sustainable success.”
Leppänen is also interested in non-executive roles herself: “Leveraging on my extensive international finance and C-level leadership experience, I bring a strategic perspective to the boardroom. My aim as a board member is to empower management to not only anticipate challenges but, more importantly, to unlock new opportunities that will drive sustainable value creation. By maintaining a ‘higher flight altitude’ and considering multiple horizons, even the unexpected can transform into a navigable path to success for teams with diverse and international board compositions.”
Global Boards Signal Global Ambition
A globally composed board sends a powerful message to investors, partners, and future employees: We are open. We are ambitious. We are future-ready.
The signal isn’t just symbolic. Studies show that internationally diverse boards:
- Attract top global talent
- Improve access to foreign markets
- Strengthen brand trust abroad
- Boost investor confidence
What Companies Should Consider
To make international board recruitment successful, companies need to:
- Broaden search criteria beyond local networks
- Partner with a global executive search firm
- Facilitate remote participation and flexible meeting formats
- Provide onboarding and cultural support
- Offer competitive compensation aligned with international benchmarks
According to InHunt Group’s boardroom research, Finnish companies often seek internationally experienced board members not primarily to expand abroad, but to ensure their boards reflect growing internationalization in the local context. This insight is particularly relevant when considering board composition and rotation practices, given the increasingly global nature of workforces, customers, and suppliers.
And importantly:
- Adopt English as the primary board language
- Build board composition around strategic competencies—not just legacy roles
- Regularly rotate board members in line with evolving business focus and required foresight
These changes help ensure that board structures reflect where the company is going, not just where it has been.
Final Thoughts
The Nordic leadership model—collaborative, transparent, and forward-thinking—is admired worldwide. But in a fast-shifting global landscape, boards must evolve to reflect the world they operate in.
Don’t let your boardroom be the last part of your business to globalize.
Need help building an internationally competitive board?
Whether you’re a scaleup taking your first global steps or an established firm rethinking your boardroom structure, we can help.
- Mikko Knuuttila | CEO, InHunt World | Senior Headhunter, InHunt Group | mikko.knuuttila@inhunt.fi
- Tarja Ilvonen | CEO, Partner, InHunt Boards | Senior Headhunter, Head of Board Competencies, InHunt Group | tarja.ilvonen@inhunt.fi
Let’s start the shift together.
This article was written by InHunt World