The Board of Directors comprises five to ten members who are elected at the Annual General Meeting for a one-year term of office expiring at the end of the first Annual General Meeting following the election. The Annual General Meeting also elects the Chairman and the Deputy Chairman of the Board of Directors.
As part of its duties, the Board of Directors conducts an annual self-assessment in order to further develop its work. In accordance with the Finnish Corporate Governance Code, the Board of Directors also annually evaluates which of the directors are independent of the company and which are independent of its significant shareholders.
Board of Directors in 2019
The Annual General Meeting on 26 March 2019 re-elected Eva Hamilton, Kim Ignatius, Essimari Kairisto, Matti Lievonen (Chairman), Klaus-Dieter Maubach (Deputy Chairman), Anja McAlister, and Veli-Matti Reinikkala. In addition, Marco Ryan and Philipp Rösler were elected as new members to the Board of Directors until the end of the Annual General Meeting in 2020. In August, Marco Ryan announced his resignation from the Board following his recent appointment at the energy company BP.
The Chairman, the Deputy Chairman and the members of the Board of Directors are independent of the company and of the company’s significant shareholders.