Key Insights: Shareholders’ Nomination Proposals at Sanoma

Proposals of the Shareholders’ Nomination Committee at Sanoma

Sanoma Corporation is gearing up for its Annual General Meeting where the Shareholders’ Nomination Committee has put forward several important proposals. These suggestions are set to be included in the official notice for the meeting, aimed at taking place in late April.

Board of Directors Composition

A primary focus of the Nomination Committee is the composition of the Board of Directors. They propose that the Board will consist of nine members. Key figures such as Pekka Ala-Pietilä, Klaus Cawén, Julian Drinkall, Rolf Grisebach, Anna Herlin, and Sebastian Langenskiöld are anticipated to be re-elected. However, notable changes are afoot, as Mika Ihamuotila has chosen not to seek re-election. Instead, the committee suggests appointing Jannica Fagerholm and Timo Lappalainen as fresh faces on the Board.

Background of New Candidates

Jannica Fagerholm, born in 1961, is a well-respected Finnish citizen with a Master of Science in Economics from Hanken School of Economics. She has led the Signe and Ane Gyllenberg Foundation since 2010 and previously held high-ranking positions at SEB Gyllenberg Private Bank. Fagerholm also serves as Vice Chair and oversees the Remuneration Committee at Mandatum Plc, along with being a board member and Audit Committee Chair at Kesko Corporation.

Timo Lappalainen, born in 1962 and an expert in Industrial Engineering and Management, has a solid background in leadership roles at Orion Corporation, where he served as President & CEO for over a decade. He is now a Professor of Practice at the University of Turku and chairs the Board at The Finnish Fair Foundation while also sitting on various boards, including Kemira Oyj.

Remuneration for Board Members

The Shareholders’ Nomination Committee has also addressed the remuneration structure for the Board. They propose to keep the monthly salaries unchanged while slightly increasing meeting fees for committee chairs and members. The remuneration details suggest:

• Chair of the Board: EUR 12,000 monthly
• Vice Chair of the Board: EUR 7,000 monthly
• Board members: EUR 6,000 monthly
• Additional fees for members residing outside Finland of EUR 1,000 per meeting attended
• Committee chairs would receive EUR 4,500 per meeting attended
• Members outside Finland attending Committee meetings would earn EUR 3,000, while within Finland, it would be EUR 2,000.

Travel expenses will be compensated based on Sanoma's Travel Policy, with payments made in cash.

Insights into the Shareholders’ Nomination Committee

The committee currently comprises experienced individuals including Juhani Mäkinen from the Jane and Aatos Erkko Foundation, Antti Herlin as Chair, Robin Langenskiöld, and Rafaela Seppälä, representing significant shareholders in Sanoma. This diverse group plays a crucial role in shaping the future direction of the company through careful selection of Board members.

More about Sanoma

Sanoma stands out as an innovative learning and media company, dedicated to making a positive impact on society. The company strives to uphold strong sustainability practices while being engaged with the UN Sustainable Development Goals. Its extensive range of educational products facilitates the development of students' talents, aiming to inspire future generations.

With a robust presence throughout Europe, Sanoma encompasses close to 5,000 dedicated professionals and generates substantial revenue, demonstrating remarkable growth. The company is committed to delivering high-quality media and education, ensuring it meets the needs of diverse audiences and partners while expanding its market reach.

Frequently Asked Questions

What are the proposals presented by the Shareholders’ Nomination Committee?

The proposals include the composition of the Board of Directors, namely the re-election of current members and the election of new members, along with a remuneration structure for the Board.

Who are the newly proposed members for the Board?

The committee suggests the election of Jannica Fagerholm and Timo Lappalainen as new members of the Board.

How will Board members be compensated?

The compensation for Board members will remain unchanged, while meeting fees for committee chairs and members will increase slightly.

What is Sanoma’s commitment towards sustainability?

Sanoma is dedicated to maximizing its positive societal impact while minimizing its environmental footprint, aligning with the UN Sustainable Development Goals.

How many professionals does Sanoma employ?

Sanoma operates across Europe with close to 5,000 professionals contributing to its diverse operations.

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