Aspocomp Group Plc’s Annual General Meeting 2022 decided, based on a request by the significant shareholders of the company, that a Shareholders’ Nomination Board will be established to the company to prepare proposals concerning the composition and remuneration of the Board of Directors to the General Meeting. It was decided that the Nomination Board shall serve until further notice until the General Meeting decides otherwise. The Annual General Meeting adopted the Rules of Procedure for the Shareholders’ Nomination Board.
Each of the three largest shareholders of the Company determined annually on the basis of the shareholders’ register on the first business day of September, have a right to appoint one member to the Nomination Board. In addition, the chairman of the company’s Board of Directors shall serve as an expert member of the Nomination Board unless he or she is appointed as an ordinary member of the Board. The Board shall elect a chairman from among its members, and thereafter the Board will be convened by or her. The members of the Nomination Board shall be appointed annually, and their term shall expire at the time new members of the Board have been appointed.
The shareholders’ representatives participating in the activities of the Nomination Board will not be entitled to remuneration.
Tasks and duties of the Shareholders’ Nomination Board
The tasks and duties of the Nomination Board are defined in the Charter of the Shareholders’ Nomination Board.
Responsibilities of the Nomination Board include the following:
- preparing and presenting to the General Meeting a proposal regarding remuneration matters of the members of the Board of Directors;
- preparing and presenting to the General Meeting a proposal regarding the number of the members of the Board of Directors in accordance with the Articles of Association;
- preparing and presenting to the General Meeting a proposal regarding election of the members of the Board of Directors;
- preparing and presenting to the inaugural meeting of the Board of Directors a proposal regarding election of the chairman of the Board of Director;
- preparing and presenting to the Board of Director principles regarding diversity of the members of the Board of Directors; and
- seeking for prospective successors for the members of the Board of Directors.
Shareholders’ Nomination Board in 2023
In September 2023, the following members were appointed to Aspocomp’s Shareholders’ Nomination Board:
– Päivi Marttila, appointed by Etola Group and Erkki Etola
– Kyösti Kakkonen, appointed by Joensuun Kauppa ja Kone Oy
– Mikko Montonen, third largest shareholder.
Details regarding Päivi Marttila can be found at section Board of Directors,
Kyösti Kakkonen, born 1956, kauppaneuvos (Finnish Honorary title), CEO of Kakkonen-Yhtiöt Oy, Honorary Consul of Hungary,
Details regarding Mikko Montonen can be found at section Management Team.