Highlights from Huhtamäki Oyj’s Annual General Meeting
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE
Key Decisions of Huhtamäki Oyj Annual General Meeting of Shareholders
Huhtamäki Oyj recently held its Annual General Meeting where critical resolutions were adopted that will shape the company's future. Shareholders gathered to review the company's performance and strategies, particularly focusing on the adoption of the Annual Accounts, which included the Consolidated Annual Accounts for the previous year. The meeting was a significant event where the members of the Board of Directors and the CEO were discharged from liability, signifying a collective support from the shareholders.
Dividend Distribution Plans
One of the highlights of the meeting was the resolution regarding dividends. An aggregate dividend amounting to EUR 1.10 per share has been approved, with the payout structured in two separate installments. The first installment of EUR 0.55 will be distributed to shareholders registered in the company’s shareholder register as of the record date. This payment is scheduled, reinforcing Huhtamäki's commitment to returning value to its investors. The second installment will follow later in the year, ensuring consistent shareholder remuneration. The Board was also authorized to adjust the record and payment dates if changes arise due to regulations concerning the Finnish book-entry system.
New Board of Directors Composition
The company's governance took a significant step forward with the confirmation of its Board of Directors, comprising nine members. Continuing members include well-respected figures such as Ms. Mercedes Alonso and Mr. Doug Baillie, while new additions, Ms. Essimari Kairisto and Mr. Johann Christoph Michalski, bring fresh perspectives. This dynamic board is poised to steer the company through evolving market conditions.
The leadership structure was reinforced as Mr. Pekka Vauramo was re-elected as the Chair of the Board, supported by Ms. Kerttu Tuomas in the role of Vice-Chair. Following the AGM, the Board established its committees, ensuring delegated responsibilities are handled by capable leaders, further enhancing the company's operational effectiveness.
Committee Appointments
Committee appointments reflect a strategic focus on oversight and governance. Ms. Anja Korhonen will chair the Audit Committee, ensuring rigorous financial scrutiny, while Mr. Doug Baillie will lead the Human Resources Committee. This structured approach emphasizes Huhtamäki's commitment to sound governance and effective resource management.
Board Remunerations
Considerable deliberation went into establishing fair remuneration for Board members. The annual compensation has been set, with the Chair receiving EUR 180,000, and other members receiving EUR 69,000 each. Additionally, committee chairs will receive further remuneration reflecting the responsibilities they undertake, ensuring that all Board activities are adequately incentivized.
Appointment of External Auditors and Sustainability Assurance
As part of maintaining high accountability standards, KPMG Oy Ab was re-elected as the company’s auditor for the upcoming financial year. Continuing under Mr. Henrik Holmbom’s leadership, KPMG's role is crucial for ensuring transparency in financial reporting.
In alignment with global sustainability goals, KPMG will also serve as the Sustainability Reporting Assurer, demonstrating Huhtamäki's commitment to responsible and sustainable practices across its operations.
Share Repurchase and Issuance Authority
The Annual General Meeting authorized the Board to repurchase up to 10,776,038 of its own shares, enhancing capital flexibility. This move shows confidence in the company’s financial health and market activity. Additionally, the Board was given the green light to issue new shares or special rights entitling shares, reflecting an adaptability to potential growth avenues.
With these significant resolutions, Huhtamäki Oyj is well-positioned to navigate future opportunities, ensuring shareholder interests remain a pivotal focus while fostering a robust governance framework.
The minutes of the Annual General Meeting will be accessible on Huhtamäki Oyj's website by the appointed date, ensuring transparency and continuous engagement with stakeholders.
For further inquiries, please contact:
Sami Pauni, Executive Vice President, Corporate Affairs and Legal, Group General Counsel, tel. +358 (0)10 686 7167
About Huhtamaki
Huhtamaki stands as a leading provider of sustainable packaging solutions globally, with a commitment to innovate and enhance hygiene and safety in food and beverage consumption. Celebrating over a century of operation, Huhtamaki proudly hosts a workforce of 18,000 across 36 countries, achieving a remarkable net sales figure of EUR 4.1 billion. As a publicly traded company on Nasdaq Helsinki, Huhtamaki continues to drive sustainability in all aspects of its operations, striving for minimal environmental impact and maximum consumer benefit.
Frequently Asked Questions
What was a key decision made at the AGM?
The meeting approved an aggregate dividend of EUR 1.10 per share for shareholders.
Who has been re-elected to the Board?
Mr. Pekka Vauramo was re-elected as Chair, and other members were also re-elected, including Ms. Mercedes Alonso and Mr. Doug Baillie.
What firm will audit Huhtamäki's financial reports?
KPMG Oy Ab has been re-elected as the auditor for the financial year 2025.
What sustainability efforts are being taken?
KPMG will act as the Sustainability Reporting Assurer, reinforcing Huhtamäki's commitment to sustainable practices.
What is the total number of shares authorized for repurchase?
The AGM authorized the repurchase of up to 10,776,038 shares.
