A power electronic assembly includes a board having metal layers laminated onto or between electrically insulating layers, and a power device embedded in the board. A first metal layer provides electrical contacts at a first side of the board. A second metal layer provides a thermal contact at a second side of the board. A third metal layer is positioned between the first metal layer and the power device and configured to distribute a load current switched by the power device. A fourth metal layer is positioned between the second metal layer and the power device and configured as a primary thermal conduction path for heat generated by the power device during switching of the load current. A first electrically insulating layer separates the fourth metal layer from the second metal layer so that the fourth metal layer is electrically isolated from but thermally connected to the second metal layer.