Understanding the Shareholder Nomination Board of Harvia Plc
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Insights into Harvia Plc’s Shareholders’ Nomination Board
Harvia Plc has made significant strides in its governance by establishing a robust shareholders’ nomination board. This board plays a crucial role in preparing proposals that pertain to the election and remuneration of Board Members, as well as the compensation of various Board committee members. These proposals are vital as they are presented during Annual General Meetings and, when necessary, during Extraordinary General Meetings.
Composition of the Nomination Board
The shareholders’ nomination board consists of representatives appointed by the four largest shareholders of Harvia. Each year, these shareholders are determined based on their voting power, as recorded in the shareholders’ register by Euroclear Finland Ltd. This approach ensures that those with the most significant stakes in the company are involved in crucial decision-making processes.
Appointment Process
If a shareholder chooses not to appoint a representative, the opportunity shifts to the next largest shareholder, fostering an inclusive and representative selection process. This system not only reinforces the commitment to shareholder engagement but also ensures that different perspectives are represented within the board.
Meet Your Nomination Board Members
The current members of Harvia Plc’s shareholders nomination board include:
- Juho Lipsanen from Onvest Oy, who serves as a Member of the Board.
- Minna Laaksonen, the CFO of WestStar Oy.
- Janne Kujala, Head of Nordic Securities at Evli Finnish Small Cap Fund.
- Josefin Degerholm, CEO of Nordea Funds Oy, representing the Nordea Nordic Small Cap Fund.
Furthermore, Heiner Olbrich, the Chairman of the Board of Directors, serves as an expert advisor to the nomination board, providing guidance without being an official member.
Forward Planning for Governance
The newly formed nomination board is tasked with forwarding its proposals for the upcoming 2025 Annual General Meeting to the Board of Directors by the end of January 2025. This timeline is crucial as it allows the Board of Directors to consider the recommendations well before the meeting, ensuring a smooth governance process.
Harvia: A Leader in the Sauna Market
Founded on a foundation of quality and expertise, Harvia is recognized as one of the leading companies in the global sauna market by revenue. The company’s diverse product portfolio caters to both private and professional customers, positioning it as a go-to brand for sauna solutions.
In the previous year, Harvia's revenue reached an impressive EUR 150.5 million, showcasing its market strength and customer base. The company prides itself on its talented workforce, comprising over 600 employees spread across various countries, including Finland, Germany, the United States, and more.
Global Presence and Operations
Harvia’s headquarters is located in Muurame, Finland, strategically situated next to its largest manufacturing facility for saunas and sauna components. This location not only underscores its commitment to domestic manufacturing but also enhances its operational efficiency.
Frequently Asked Questions
What is the main function of Harvia Plc’s shareholders’ nomination board?
The board prepares proposals related to the election and remuneration of Board Members to be presented at Annual and Extraordinary General Meetings.
Who appoints the members of the nomination board?
The members are appointed by Harvia's four largest shareholders, based on their voting powers.
How does the appointment process work?
If a shareholder opts out of appointing a member, the right transfers to the next largest shareholder.
What is the significance of the nomination board's recommendations?
The recommendations help shape the governance of Harvia and ensure that shareholder interests are represented effectively.
Where is Harvia Plc headquartered?
Harvia is headquartered in Muurame, Finland, near its principal manufacturing facility.
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