Proposed Changes in the Board Composition of Oma Savings Bank
The Shareholders' Nomination Committee has put forth a proposal to establish a seven-member Board of Directors for Oma Savings Bank, transitioning into a new operational phase. This change reflects the commitment to maintain an efficient and skilled board that is aligned with the company's strategic goals.
Nominees for the Board of Directors
The committee has recommended continuing the current members—Juhana Brotherus, Irma Gillberg-Hjelt, Aki Jaskari, Jaakko Ossa, Carl Pettersson, Kati Riikonen, and Juha Volotinen—each of whom has confirmed their willingness to serve for the upcoming term. All nominees demonstrate independence regarding the bank and its key shareholders, ensuring unbiased governance.
Meet the Board Members
Here’s a closer look into the qualifications and backgrounds of the proposed members:
1. **Juhana Brotherus**: Since joining the board in late 2024, Brotherus brought a wealth of experience from his tenure as Chief Economist at the Federation of Finnish Enterprises. His extensive background in economic strategies makes him a valuable asset for the future of OmaSp.
2. **Irma Gillberg-Hjelt**: With a legal and banking background, Gillberg-Hjelt has held significant positions in corporate banking. Her expertise aids in navigating the complex regulatory environment that financial institutions face today.
3. **Aki Jaskari**: As a long-standing board member, Jaskari’s leadership at Nerkoon Höyläämö Oy juxtaposed with his involvement in various bodies reflects the relevant track record needed for impactful decision-making.
4. **Jaakko Ossa**: His role as a professor of financial law and expertise in taxation equips Ossa to provide sound governance and compliance oversight.
5. **Carl Pettersson**: Serving as the Managing Director of Elo Pension Company, Pettersson's executive experience is vital for effective risk management strategies at OmaSp.
6. **Kati Riikonen**: With her strong background in marketing and analytics, Riikonen will help drive the bank's customer engagement and brand positioning.
7. **Juha Volotinen**: Volotinen adds depth with his experience in municipal finance and prior roles in banking tech, streamlining finance operations within the bank.
Proposed Remuneration for Board Members
The Shareholders' Nomination Committee has outlined an annual remuneration plan, aimed at ensuring the dedication of board members while adhering to market standards:
Basic Remuneration Structure
The proposed annual remuneration is as follows:
- Chairperson: EUR 85,000
- Vice Chairperson: EUR 60,000
- Board Members: EUR 40,000
Committee Chairperson Fees
Additional fees for committee chairpersons will include:
- Remuneration Committee Chair: EUR 6,000
- Risk Committee Chair: EUR 9,000
- Audit Committee Chair: EUR 9,000
Meeting Fees
Meeting allowances are proposed at:
- Board meetings: EUR 1,000
- Committee meetings: EUR 1,000
- Online meetings: EUR 500
To align the interests of board members with shareholders, 25% of the total annual remuneration will be compensated in shares of Oma Savings Bank, reflecting the organization's commitment to ongoing investment in the company. The fees will be structured such that the majority is paid in cash, allowing members to offset any tax liabilities related to their remuneration.
Value-Added Services for Board Members
In addition to the proposed remuneration, the bank will cover necessary travel expenses incurred during board duties. This approach ensures that every member can attend meetings and fulfill responsibilities without financial impediment.
Conclusion on Committee Proposals
The committee's proposals will be detailed in the Annual General Meeting's agenda. These measures aim to enhance the governance structure and operational efficiency of Oma Savings Bank, fostering an environment of diligence and accountability.
Frequently Asked Questions
What is the purpose of the Shareholders' Nomination Committee?
The committee assesses and proposes members for the Board, ensuring the chosen individuals meet requisite independence and expertise standards.
How is the remuneration for board members structured?
The compensation includes a mix of annual salaries and meeting fees, with a portion paid in company shares to align interests with shareholders.
Who are the nominees for the Board of Directors?
The nominees include Juhana Brotherus, Irma Gillberg-Hjelt, Aki Jaskari, Jaakko Ossa, Carl Pettersson, Kati Riikonen, and Juha Volotinen.
How does this structure benefit the bank?
A well-composed board with substantiated expertise strengthens governance, guiding the bank towards strategic growth and resilience.
What existing services does Oma Savings Bank provide?
Oma Savings Bank offers a wide range of banking products including retail banking, credit, investment services, and mortgage options, focusing on customer personalization.
