Share­holders' Nomi­nation Board

Share­holders' Nomi­nation Board

The Shareholders’ Nomination Board is a body of Mandatum plc's shareholders, responsible for annually preparing proposals to the Annual General Meeting for the election and remuneration of the members of the Board of Directors and the remuneration of the Board committees and the Nomination Board. The Nomination Board is also responsible for ensuring that the Board of Directors and its members maintain and represent a sufficient level of expertise, knowledge and competence for the needs of Mandatum and are able to commit sufficient time to perform their duties.

The responsibilities of the Nomination Board include:

  • preparing and presenting to the Annual General Meeting a proposal on the number of the members of the Board of Directors in accordance with the articles of association;
  • preparing and presenting to the Annual General Meeting a proposal on the Chair, Vice Chair and the members of the Board of Directors;
  • reviewing the remuneration policy for governing bodies of Mandatum plc in respect of the remuneration of the members of the Board of Directors;
  • preparing and presenting to the Annual General Meeting a proposal on the remuneration of the members of the Board of Directors as well as a proposal on the remuneration of the Board committees and the Nomination Board in accordance with the remuneration policy for governing bodies of Mandatum plc; and
  • evaluating the succession plan for the Board of Directors and seeking for prospective successors for the members of the Board of Directors.

In its work, the Nomination Board shall comply with applicable laws and regulations, including the rules of Nasdaq Helsinki Ltd and the Finnish Corporate Governance Code maintained by the Finnish Securities Market Association.

The Nomination Board consists of four members, three of which represent Mandatum's three largest shareholders who, at the closing of Nasdaq Helsinki's last trading day in August preceding the next Annual General Meeting, hold the largest number of votes calculated of all shares in the company. The Chair of the Board of Directors acts as the fourth member of the Nomination Board as an expert member.

However, in accordance with the Charter of the Nomination Board, the members of the first Nomination Board represent the company’s three largest shareholders who, at the closing of 31 October 2023 trading held the largest number of votes calculated of all shares in the company and wished to participate in the work of the Nomination Board.

Composition of the Nomination Board:

  • Herman Korsgaard, Principal, Altor Equity Partners AS (appointed by Altor Invest 8 AS)
  • Risto Murto, President and CEO, Varma Mutual Pension Insurance Company (appointed by Varma Mutual Pension Insurance Company)
  • Patrick Lapveteläinen, Chair of the Board of Directors of Mandatum plc

Petter Söderström, Investment Director of Solidium Oy, announced his resignation from his position as Chair of the Nomination Board on 15 February 2024 after Solidium Oy sold all its shares in Mandatum plc on 15 February 2024. The Nomination Board shall elect a new Chair from among its members and decide on any other measures related to the composition change at its next meeting.

CHARTER OF THE SHAREHOLDERS’ NOMINATION BOARD

16.11.2023