The ten member Board of Directors represents Outokumpu Oyj Foundation and manages its affairs. The members include the Rector of Helsinki University of Technology, Outokumpu Corporation's CEO and President, representatives appointed by Geological Survey of Finland and the Technical Research Centre of Finland, as well as six university representatives, two of whom represent Helsinki University of Technology, one the University of Helsinki, one the University of Oulu, one jointly the University of Turku and Åbo Akademi, and one jointly the Universities of Technology of Tampere and Lappeenranta. The university representatives are experts in metal production and processing, metal and mining technology, ore geology and corresponding business activity.

The university representatives are chosen to the Board of Directors of the Foundation for a term of three calendar years at a time at the autumn meeting of the Board. From the same establishment a personal deputy is appointed for each board member.

The Rector of University of Technology acts as the Chairman of the Board, and the CEO and President of Outokumpu Corporation as the Vice Chairman.

Seated on the Working Committee of the Board of Outokumpu Oyj Foundation are the chairman and vice chairman of the Board as well as three university representatives elected by the Board of Directors for a three-year term.

The Board of Directors elects a representative and a secretary for the foundation.