Shareholders at the Annual General Meeting (AGM) have appointed a Nomination Board to prepare proposals concerning (a) the number of members of the Board of Directors, (b) the members of the Board, (c) remuneration for the Chairman, Vice Chairman and members of the Board and (d) the remuneration for the Chairman and members of the committees of the Board.
The Nomination Board comprises four members:
- the Chairman of the Board
- the Vice Chairman of the Board
- two members appointed annually by the two largest shareholders (one each) according to the share register of 30 September.
The Chairman of the Board convenes the Nomination Board. A Nomination Board member who is also a member of the Board may not be the Chairman of the Nomination Board. The Nomination Board presents its proposal for the Annual General Meeting to the Board annually before 31 January.
The Nomination Board has a Charter approved by the General Counsel.
The AGM in 2013 appointed a Nomination Board to present proposals for Board membership and remunerations to the AGM in 2014.
The Nomination Board to prepare proposals for AGM 2014 consists of four members:
- the Chairman of the Board (Gunnar Brock),
- the Vice Chairman of the Board (Juha Rantanen) and
- two other members appointed by the two largest shareholders, (one each) according to the share register of 30 September 2013.
The main tasks of the Nomination Board are to prepare the proposals for the AGM in 2014 concerning Board members and their remuneration. The Nomination Board presents its proposal for the Annual General Meeting to the Board before 31 January 2014.
Remuneration of EUR 3 000 per annum is paid to members who are not members of the Board as decided by the AGM.
Nomination Board appointed by AGM 2012
The Nomination Board proposed in its proposal for the AGM in 2013 that of the current members of the Board of Directors, Gunnar Brock, Hock Goh, Birgitta Kantola, Mikael Mäkinen, Juha Rantanen, Hans Stråberg, Matti Vuoria, and Marcus Wallenberg shall be re-elected until the end of the following AGM and that Elisabeth Fleuriot and Anne Brunila be elected as a new members of the Board of Directors for the same term of office. The Nomination Board also presented a proposal to keep the Board remuneration on current level.
The Nomination Board appointed by the AGM in 2012 convened five times (24 October 2012–31 January 2013).