Valmet's Board Composition Proposal for 2026
The Nomination Board of Valmet Oyj has made an important proposal regarding the composition of the Board of Directors, recommending that there will be no changes to the current members and roles. This decision comes as part of their preparations for the upcoming Annual General Meeting, envisioned for 2026.
Members of the Proposed Board
The Nomination Board suggests that the Board maintain a total of eight members, with the term concluding at the Annual General Meeting in 2027. The proposed members include:
- Anu Hämäläinen
- Pekka Kemppainen
- Annareetta Lumme-Timonen
- Monika Maurer
- Annika Paasikivi
- Pekka Vauramo
- Bernd Eikens
- Jonas Gustavsson
Furthermore, Pekka Vauramo is set to be re-elected as the Chair, while Annika Paasikivi is proposed to be re-elected as Vice-Chair.
Independence Assessment
The Nomination Board has assessed that all nominated members are independent of Valmet and of significant shareholders, with the exception of Annareetta Lumme-Timonen and Annika Paasikivi. The independence of Board members is to be evaluated separately by the Board elected during the Annual General Meeting, in accordance with the Finnish Corporate Governance Code.
Remuneration of Board Members
In a significant recommendation, the Nomination Board proposes an increase in the remuneration for Board members at the Annual General Meeting. The proposed amounts are:
- EUR 163,000 for the Chair (an increase from EUR 155,000 in 2025)
- EUR 90,000 for the Vice-Chair (up from EUR 85,500)
- EUR 71,000 for a Board member (increased from EUR 68,000)
Additionally, specific fees for committee members have been proposed, showing a commitment to recognizing the effort and expertise of its Board members. This includes a base fee of EUR 7,800 for Audit Committee members and EUR 17,800 for the Chair of that committee.
Compensation for Meeting Attendance
The Nomination Board also detailed proposed meeting fees that vary based on the Board members' location:
- EUR 1,000 for those residing in Nordic countries
- EUR 1,800 for members from other parts of Europe
- EUR 3,500 for those located outside Europe
Furthermore, they suggest fees for remote connections for meetings, aiming to ensure that participation is accessible and fairly compensated.
Adjustments to the Nomination Board's Charter
The Nomination Board proposes changes to its Charter to set the date for determining shareholders qualified to appoint members as June 1, moving from the previous date of July 1. This change aims to streamline the nomination process.
Insights from the Nomination Board
The Nomination Board was chaired by Markus Melkko, with support from other key members such as Toni Nurmi and Markus Aho. It highlights the collaborative effort within the board to ensure strong governance at Valmet.
Company Background
Valmet Oyj stands as a leader in global technology, serving various process industries. With a legacy extending over 225 years and a dedicated workforce of more than 19,000 experts, Valmet is uniquely positioned to drive industries towards a sustainable future. In recent terms, the company reported net sales of approximately EUR 5.4 billion, marking a robust presence in the industrie.
For further inquiries regarding these proposals, shareholders are encouraged to reach out to Rasmus Oksala, General Counsel at Valmet.
Frequently Asked Questions
What is the main purpose of the Nomination Board's proposals?
The proposals primarily address the composition and remuneration of the Board of Directors for the upcoming Annual General Meeting, ensuring effective governance at Valmet.
Who are the proposed members of Valmet's Board?
The proposed members include prominent individuals such as Anu Hämäläinen, Pekka Kemppainen, and others, with existing roles reaffirmed under the upcoming nominations.
How does Valmet ensure the independence of its board members?
Independence is evaluated according to the Finnish Corporate Governance Code by the newly elected Board, ensuring rigorous assessment standards are upheld.
What are the new proposed remuneration figures for board members?
The new proposed remuneration includes EUR 163,000 for the Chair and EUR 90,000 for the Vice-Chair, reflecting a significant and encouraged investment in Board governance.
How does the proposed change to the Nomination Board's Charter affect shareholders?
The change aims to enhance the nomination process, allowing for an earlier determination of qualified shareholders, thereby streamlining the decision-making process.
