Shareholders' Nomination Board
Outokumpu’s Annual General Meeting in 2012 resolved to establish a Shareholders’ Nomination Board to annually prepare proposals to the
Annual General Meeting for the election, composition and remunerationof the members of the Board of Directors
In addition, the Annual General Meeting adopted a Charter of the Shareholders’ Nomination Board, which regulates the nomination and composition, and defines the tasks and duties of the Nomination
Board. According to the Charter, the Nomination Board consists of the representatives of Outokumpu’s four largest shareholders, registered in the Finnish book-entry securities system on October 1, who accept the assignment and that the Chairman of the Board should act as an expert member of the Nomination Board.
Holdings by a shareholder who under the Finnish Securities Markets Act has the obligation to disclose changes in shareholdings (flagging obligation) that are divided into several funds or registers will be
summed up when calculating the share of all the voting rights, provided that the shareholder presents a written request to that effect to the Chairman of the Company’s Board of Directors no later than September 30 preceding the Annual General Meeting. Should a shareholder not wish to use its nomination right, the right transfers to the next largest shareholder who would otherwise not have a nomination right.
Shareholders' Nomination Board in 2016
On October 1, 2016 the four largest shareholders of Outokumpu were Solidium Oy, Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company and The Social Insurance Institution of Finland. They have appointed the following representatives to the Nomination Board:
Kari Järvinen, Managing Director at Solidium Oy
Pekka Pajamo, CFO at Varma Mutual Pension Insurance Company
Timo Ritakallio, President and CEO at Ilmarinen Mutual Pension Insurance Company and
Tuula Korhonen, Investment Director at The Social Insurance Institution of Finland
In addition, the Chairman of the Outokumpu Board of Directors Jorma Ollila serves as an expert member in the Nomination Board.
The Nomination Board will submit its proposals to Outokumpu’s Board of Directors on January 31, 2017 at the latest. The proposals are published either separately or as a part of the notice to the Annual General Meeting.
Please see the Annual General Meetings