Understanding Harvia Plc’s Shareholders’ Nomination Board
Harvia Plc has made notable advancements in its governance by creating a strong shareholders’ nomination board. This board is essential for preparing proposals related to the election and remuneration of Board Members, as well as the compensation for various Board committee members. These proposals are crucial as they are presented during the Annual General Meetings and, if necessary, during Extraordinary General Meetings.
Structure of the Nomination Board
The shareholders’ nomination board is made up of representatives chosen by Harvia's four largest shareholders. Each year, these shareholders are identified based on their voting power, as recorded in the shareholders’ register maintained by Euroclear Finland Ltd. This method ensures that those with the largest stakes in the company are actively involved in important decision-making processes.
How Members Are Appointed
If a shareholder decides not to appoint a representative, the opportunity is passed to the next largest shareholder, promoting an inclusive and representative selection process. This system not only strengthens the commitment to shareholder engagement but also guarantees that a variety of perspectives are included within the board.
Meet the Members of Your Nomination Board
The current members of Harvia Plc’s shareholders’ nomination board are:
- Juho Lipsanen from Onvest Oy, serving 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.
Additionally, Heiner Olbrich, the Chairman of the Board of Directors, acts as an expert advisor to the nomination board, offering guidance without being an official member.
Planning Ahead for Governance
The newly established nomination board is responsible for submitting its proposals for the upcoming 2025 Annual General Meeting to the Board of Directors by the end of January 2025. This timeline is critical as it allows the Board of Directors to review the recommendations well in advance of the meeting, ensuring a smooth governance process.
Harvia: A Leader in the Sauna Industry
Built on a foundation of quality and expertise, Harvia is recognized as one of the top companies in the global sauna market by revenue. The company’s extensive product portfolio serves both private and professional customers, establishing it as a preferred brand for sauna solutions.
Last year, Harvia's revenue reached an impressive EUR 150.5 million, highlighting its strong market position and customer base. The company takes pride in its skilled workforce, which includes over 600 employees across various countries, including Finland, Germany, the United States, and more.
Global Operations and Presence
Harvia’s headquarters is located in Muurame, Finland, strategically positioned next to its largest manufacturing facility for saunas and sauna components. This location not only emphasizes its commitment to domestic manufacturing but also enhances operational efficiency.
Frequently Asked Questions
What is the main function of Harvia Plc’s shareholders’ nomination board?
The board is responsible for preparing proposals related to the election and remuneration of Board Members, which are 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 not to appoint a member, the opportunity is passed to the next largest shareholder.
What is the significance of the nomination board's recommendations?
The recommendations play a vital role in shaping Harvia's governance and ensuring that shareholder interests are effectively represented.
Where is Harvia Plc headquartered?
Harvia is headquartered in Muurame, Finland, situated close to its main manufacturing facility.
