Composition of Honkarakenne’s Shareholders’ Nomination Committee
Honkarakenne Oyj has established a structured Nomination Committee tasked with preparing proposals regarding the election and remuneration of Board Members. This committee plays a vital role in shaping the governance structure of the organization, ensuring that the right individuals are selected to guide Honkarakenne’s future.
The Role of the Nomination Committee
The Nomination Committee comprises a total of four members. Each of Honkarakenne's four largest shareholders is entitled to nominate one member to this committee. Additionally, the chairman of the company’s Board of Directors serves as an expert member, providing valuable insights and experience to the team.
Criteria for Member Nomination
Member nominations are determined based on the shareholders that possess the largest voting shares as listed by Euroclear Finland Oy. This practice ensures that the most significant stakeholders in the company have a direct influence over the nomination process. As a result, the four largest shareholders play a crucial role in determining who will represent their interests in the Nomination Committee.
Current Members of the Committee
As of the latest shareholder review, the four principal shareholders of Honkarakenne include Saarelainen Oy, Ark-invest Oy, Marko Saarelainen, who is also the CEO of Honkarakenne Oyj, and Nordea Nordic Small Cap Fund. These shareholders have actively exercised their right to nominate representatives to the committee.
List of Appointed Members
The current members of Honkarakenne’s Shareholders’ Nomination Committee have been officially appointed as follows:
- Julius Pihlaja, nominated by Saarelainen Oy
- Arimo Ristola, nominated by Ark-invest Oy
- Marko Saarelainen, representing himself
- Josefin Degerholm, nominated by Nordea Nordic Small Cap Fund
Recent Developments
In their recent meeting, Julius Pihlaja was elected as the chairman of the Nomination Committee. Timo Kohtamäki, the Chairman of Honkarakenne’s Board of Directors, has been invited to join the committee as an expert member, enriching the committee's knowledge pool.
Looking Ahead
The Shareholders’ Nomination Committee is responsible for forwarding its proposals for the upcoming Annual General Meeting to Honkarakenne’s Board of Directors. This process is expected to be completed by the end of January in the upcoming year, setting the stage for critical decision-making that will define the governance of Honkarakenne.
About Honkarakenne Oyj
Honkarakenne Oyj specializes in the production of high-quality, ecological log homes and structures under the Honka brand, using Finnish solid wood. With an impressive portfolio, the company has delivered over 90,000 buildings across more than 50 countries. Its house kits are meticulously manufactured in Finland, with the company's headquarters located in Karstula. As a testament to its successful operations, Honkarakenne Group recorded net sales of EUR 46.3 million recently, with a notable 31% of that revenue originating from exports. This showcases the company’s strong position both domestically and on the international stage.
Frequently Asked Questions
What is the purpose of the Shareholders’ Nomination Committee?
The committee prepares proposals concerning the election and remuneration of Board Members, contributing to corporate governance.
Who can nominate members to the Nomination Committee?
Only the company’s four largest shareholders have the right to nominate members to the committee.
How many members are on the Nomination Committee?
The Nomination Committee consists of four members, plus an expert member from the Board of Directors.
What is the term for the Nomination Committee?
The committee operates until it submits its proposals for the Annual General Meeting, usually by the end of January each year.
What type of homes does Honkarakenne produce?
Honkarakenne manufactures high-quality ecological log homes, holiday homes, and various public buildings.
