Overview of Stora Enso's Shareholders' Nomination Board Formation
Understanding Stora Enso's Shareholders' Nomination Board
The Shareholders' Nomination Board of Stora Enso Oyj plays a crucial role in the company's governance and strategic decision-making. Its main responsibility is to prepare proposals for the Annual General Meeting (AGM) regarding the election and remuneration of the Board of Directors and its committees. The Board ensures that the interests of shareholders are represented effectively through a systematic process.
Key Responsibilities of the Nomination Board
The members of the Shareholders' Nomination Board aim to ensure that Stora Enso maintains a strong leadership structure. They evaluate the performance of existing board members and propose modifications to ensure that the board remains aligned with shareholder interests. This process includes proposing candidates for the positions of Chair and Vice Chair of the Board of Directors.
Composition of the Nomination Board
The Nomination Board consists of four key members: the Chair and Vice Chair of the Board of Directors, as well as two representatives from the largest shareholders. As of the most recent appointment, the members include Kari Jordan as Chair, Håkan Buskhe as Vice Chair, Jouko Karvinen representing Solidium Oy, and Marcus Wallenberg representing FAM AB.
Selection of the Nomination Board Members
Each year on August 31, the two largest shareholders nominate their representatives. This practice not only reflects the ownership structure but also maintains a balance of power within the board. The Nomination Board members are chosen to ensure that shareholder voices continue to steer the company towards sustainable growth.
Importance of Effective Governance
Effective governance is crucial for a company as large and significant as Stora Enso, which is recognized globally for its innovative solutions in the renewable materials sector. With a strategic focus on sustainability, Stora Enso aims to replace fossil-based materials with renewable alternatives sourced from forests. This approach emphasizes the company's commitment towards ecological responsibility.
Contact Information for Further Inquiries
For any inquiries related to the activities of the Shareholders' Nomination Board, stakeholders can reach out to:
Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349
Jutta Mikkola
SVP Investor Relations
tel. +358 50 544 6061
Frequently Asked Questions
What is the purpose of the Shareholders' Nomination Board?
The Shareholders' Nomination Board is responsible for preparing proposals regarding the election and remuneration of the Board of Directors and its committees.
Who are the current members of the Nomination Board?
Current members include Kari Jordan (Chair), Håkan Buskhe (Vice Chair), Jouko Karvinen, and Marcus Wallenberg.
How are members of the Nomination Board chosen?
The two largest shareholders nominate their representatives annually on August 31.
Why is effective governance important for Stora Enso?
Effective governance ensures that shareholder interests are represented and the company remains aligned with its sustainability goals.
How can stakeholders contact Stora Enso's investor relations?
Stakeholders can contact Jutta Mikkola at tel. +358 50 544 6061 for inquiries related to investor relations.
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