Hiab’s Shareholders’ Nomination Board: Key Appointments and Duties
Introduction to Hiab’s Shareholders’ Nomination Board
Hiab Corporation, a recognized leader in smart and sustainable load-handling solutions, has recently highlighted the composition of its Shareholders’ Nomination Board. This board plays a vital role in guiding the company's governance and ensuring that it maintains its integrity and professionalism in management oversight.
Understanding the Composition of the Nomination Board
The Nomination Board at Hiab is strategically composed of four members who are selected based on their significant shareholdings. Specifically, the two largest shareholders of class A shares each appoint one member, alongside the two largest shareholders of class B shares who do not own any class A shares. This structure is designed to foster a balanced representation of the company's various ownerships.
Key Members of Hiab’s Nomination Board
The appointed members of the Nomination Board include:
- Ville Herlin, representing Wipunen Varainhallinta Oy
- Heikki Herlin, appointed by Mariatorp Oy
- Markus Aho, Deputy CEO and Chief Investment Officer of Varma Mutual Pension Insurance Company
- Rami Vehmas, Senior Portfolio Manager at Ilmarinen Mutual Pension Insurance Company
These members bring diverse expertise and perspectives to the table, essential for making informed decisions that affect the overall direction of Hiab.
The Role of the Chair and Responsibilities
Jukka Moisio, the Chair of Hiab’s Board of Directors, plays a supportive role in the Nomination Board's activities. While he is involved as an expert, he does not participate in the decision-making process. This approach ensures that the board remains impartial and focused on its mission.
Functionality of the Nomination Board
The primary responsibility of the Nomination Board is to prepare proposals for Hiab's Annual General Meeting, as well as any necessary Extraordinary General Meetings. These proposals typically focus on important aspects such as the number of directors, their elections, and remuneration. Importantly, the board must present its recommendations to Hiab’s Board of Directors by the end of January each year in anticipation of the Annual General Meeting.
More About Hiab
Hiab operates on a global scale, delivering its innovative solutions across numerous countries. The company achieved remarkable sales of approximately EUR 1.6 billion in its continuing operations last year, reflecting a robust engagement with customers worldwide. With a dedicated workforce of over 4,000 people and a strong presence through its extensive network of sales and service locations, Hiab is committed to enhancing customer experience through quality service and products.
Contact Information
For further inquiries regarding Hiab and its operations, please reach out to:
Taina Tirkkonen, EVP, General Counsel, phone: +358 50 317 4000
Aki Vesikallio, Vice President, Investor Relations, phone: +358 40 729 1670
Frequently Asked Questions
What is the purpose of Hiab’s Nomination Board?
The Nomination Board prepares proposals related to the Board of Directors' composition and remuneration, ensuring effective governance within the company.
Who are the members of Hiab’s Nomination Board?
The members include Ville Herlin, Heikki Herlin, Markus Aho, and Rami Vehmas, each appointed by respective significant shareholders.
How does Hiab ensure fair representation in its Nomination Board?
Hiab appoints members based on the largest shareholders of both class A and class B shares, providing a balanced representation in its leadership.
What role does the Chair of the Board play in the Nomination Board?
The Chair, Jukka Moisio, participates as an expert in discussions but does not have decision-making authority within the Nomination Board.
Can you provide an overview of Hiab as a company?
Hiab is a global leader in load-handling solutions, known for its commitment to sustainability and customer satisfaction, employing over 4,000 individuals worldwide.
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