Key Appointments and Committees Announced by Harvia Plc

Author: Owen Jenkins Updated: 04-08-2025 11:16 AM

Recent Developments in Harvia Plc’s Board Structure

In a significant move for governance, Harvia Plc held its organisational meeting where pivotal announcements were made concerning its Board of Directors. Following the Annual General Meeting, the governance landscape is adapting to enhance leadership and committee functions.

Leadership Roles Within the Board

Heiner Olbrich has been appointed as the Chair of the Board, fostering a visionary direction for the company. Catharina Stackelberg-Hammarén steps into the role of Vice Chair, adding her expertise to the management of the Board. The collective experience in leadership is poised to guide Harvia Plc towards new milestones.

Audit Committee Selection

The Board of Directors has made crucial selections for the Audit Committee, which will play a vital role in overseeing the financial practices of the company. Petri Castrén will chair this committee, joined by Hille Korhonen, Anders Holmén, and Markus Lengauer. Their combined experience will ensure transparency and integrity in financial reporting, reinforcing stakeholder confidence.

Personnel and Remuneration Committee Composition

The Personnel and Remuneration Committee is another facet of the Board's restructured management team. Chair Heiner Olbrich leads alongside Olli Liitola and Catharina Stackelberg-Hammarén. This committee will be essential in shaping policies that align employee remuneration with the company's long-term goals.

Board Independence Assessment

Part of the organisational meeting included a comprehensive review of the members' independence in alignment with the Finnish Corporate Governance Code 2025. The assessment concluded that all members of the Board maintain independence from the company and its significant shareholders, reinforcing the Board’s commitment to responsible governance.

Company Overview and Future Outlook

Harvia Plc stands as a leader in the sauna industry, recognized for its extensive product range that meets the varied needs of both private and professional clients. In 2024, Harvia recorded revenue of EUR 175.2 million, showing a robust market presence.

Global Workforce and Manufacturing Capacities

The company prides itself on its diverse workforce, employing approximately 700 individuals across various countries, including Finland, the United States, Germany, Romania, China, and multiple locations in Europe. Its headquarters in Muurame, Finland, is strategically positioned next to its main manufacturing facility for saunas and sauna components.

This international reach not only highlights Harvia's commitment to quality but also its role in shaping the future of sauna experiences worldwide. With a focus on innovation and customer satisfaction, the company continues to develop products that resonate with both consumers and industry professionals.

Frequently Asked Questions

What key positions were filled in Harvia Plc's Board?

Heiner Olbrich was elected as Chair, and Catharina Stackelberg-Hammarén as Vice Chair, along with other committee appointments.

What is the purpose of the Audit Committee?

The Audit Committee oversees financial reporting and compliance, ensuring integrity in Harvia's financial practices.

How does Harvia ensure Board independence?

Independence assessments are conducted regularly in line with the Finnish Corporate Governance Code to verify compliance.

What recent revenue figures were reported by Harvia?

In 2024, Harvia’s revenue reached EUR 175.2 million, indicating strong market performance.

Where is Harvia's headquarters located?

Harvia is headquartered in Muurame, Finland, near its main manufacturing facility.

About The Author

Hi there I'm 38-year-old author and financial consultant Owen Jenkins. Having worked in the financial sector for more than ten years, I am well-versed in the subtleties and complexity that mold our financial environment. Following a degree in finance, I worked in a number of financial institutions honing my abilities in market analysis, financial planning, and investment strategies.

My love is teaching others about investing and personal finance. My goal in writing many books and articles has been to demystify financial ideas and give readers the information they need to make wise financial decisions. I write with a direct, useful style that emphasizes doable suggestions for daily living.

Along with writing, I lead webinars and seminars where I impart knowledge on how to successfully negotiate the financial world. I also write for financial journals and show up as a guest expert on financial news programs a lot. Whether they are new to investing or want to improve their approach, my mission is to enable people to take charge of their financial futures.

Beyond work, I like to hike, play the guitar, and spend time with my family. I think that balance is crucial and want to encourage people to strike a balance between their financial aspirations and their hobbies. I want to help people succeed and achieve financial security through my work, so having a good influence.

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