Shareholders' Nomination Board Proposals for Stora Enso Oyj
The Shareholders' Nomination Board of Stora Enso Oyj is preparing for the upcoming Annual General Meeting (AGM) by putting forth significant proposals. The meeting, which will take place soon, will focus on the structure and leadership of the company's Board of Directors.
Board Member Nominations
In an effort to enhance governance, the Board of Directors is expected to have a total of eight members. The Shareholders' Nomination Board recommends the re-election of seven current members: Håkan Buskhe, Helena Hedblom, Astrid Hermann, Christiane Kuehne, Richard Nilsson, Elena Scaltritti, and Antti Vasara. Additionally, Jouko Karvinen has been nominated as a new member.
The proposal to fill the board comes in light of recent announcements by current Chair Kari Jordan and Reima Rytsölä, stating they will not seek re-election. Marcus Wallenberg, Chair of the Nomination Board, expressed gratitude for their contributions, especially highlighting Kari's leadership and accomplishments during his term.
Leadership Structure Within the Board
The proposal includes a significant shift in leadership, recommending Håkan Buskhe to take the position of Chair, with Jouko Karvinen suggested as Vice Chair. This leadership assembly signals a commitment to both continuity and a clear strategic direction.
Background on Jouko Karvinen
Jouko Karvinen, born in 1957 and holding a Master of Science in Engineering, possesses a wealth of experience from various esteemed roles, including serving as CEO of Stora Enso from 2007 to 2014 and leading other major companies. His diverse background, featuring previous chairmanships and board positions across well-recognized organizations, enhances the expertise of the Board of Directors.
Strategic Governance Recommendations
In line with Nordic governance practices, the Shareholders' Nomination Board urges shareholders to consider their proposals collectively during the AGM. This collaborative approach emphasizes the importance of the board’s overall competency over individual nominees.
Proposed Remuneration Structure
Another key aspect of the proposals involves compensation. The Nomination Board suggests maintaining the remuneration for the Chair, Vice Chair, and Board members at the prior year’s levels. Specifically, the Chair will receive EUR 221,728, the Vice Chair EUR 125,186, and each member EUR 85,933.
Moreover, 40% of Board member remuneration will be allotted in Stora Enso R shares, with the remaining portion provided in cash, reflecting a commitment to aligning member incentives with shareholder interests.
Committee Remuneration Structure
The remuneration for specialized committees—Financial and Audit Committee, People and Culture Committee, and Sustainability and Ethics Committee—will also adhere to prior benchmarks. This includes stipulated payments for committee chairs and members, ensuring fair compensation across all sectors.
Composition of the Shareholders' Nomination Board
The Nomination Board, which has been proactive during its 2025-2026 working period, includes a mix of established leaders, and has met multiple times to prepare for the upcoming AGM. This demonstrates a commitment to thorough preparation and robust governance practices within Stora Enso.
Stora Enso has long been recognized for its focus on renewable resources, emphasizing the potential of replacing fossil-based materials with sustainable alternatives from forests. Their innovative approach in providing renewable products places them at the forefront of the industry, helping to address global challenges in sustainability.
Contact Information
For more information regarding these developments, interested parties can reach out to:
Hanna Rutanen
SVP Communications
tel. +358 41 507 1361
Jutta Mikkola
SVP Investor Relations
tel. +358 50 544 6061
Frequently Asked Questions
What is the main purpose of the proposals by the Shareholders' Nomination Board?
The proposals aim to restructure the Board of Directors and establish leadership roles while ensuring alignment with corporate governance practices.
Who are the nominated members for the Board of Directors?
The nominations include Håkan Buskhe, Helena Hedblom, Astrid Hermann, Christiane Kuehne, Richard Nilsson, Elena Scaltritti, Antti Vasara, and Jouko Karvinen.
What changes are being proposed for the Board's remuneration?
The remuneration for board positions is proposed to remain at previous levels, with specific adjustments in the compensation structure to include shares.
Who will serve as Chair and Vice Chair of the Board?
Håkan Buskhe has been proposed for Chair, while Jouko Karvinen is nominated for Vice Chair.
What is Stora Enso's focus and industry impact?
Stora Enso focuses on renewable products, highlighting its role as a leader in sustainable materials, aiming to replace fossil-based resources with tree-derived alternatives.
