The Shareholders’ Nomination Board complements the proposal it made on 27 January 2020 to Finnair Plc’s Annual General Meeting (AGM 2020).
Number of members of the Board of Directors
The Shareholders’ Nomination Board proposes to the AGM 2020 to be held on 29 May 2020 that the number of members of the Board of Directors would be confirmed as nine. Its previous proposal was that the number of members of the Board of Directors would be confirmed as eight.
Composition of the Board of Directors
The current members of Finnair’s Board of Directors are Tiina Alahuhta-Kasko, Colm Barrington, Montie Brewer, Mengmeng Du, Jukka Erlund, Jouko Karvinen, Henrik Kjellberg and Jaana Tuominen. The Shareholders’ Nomination Board proposes to the AGM 2020 that all the current members of the Board of Directors be re-elected and that Maija Strandberg, Senior Financial Counsellor at the Government Ownership Steering Department be elected as a new member of the Board of Directors. Prior to her current position, she has acted as the CFO and member of the executive board of Uponor corporation.
The Shareholder’s Nomination Board proposes that Maija Strandberg be elected as a new member to further strengthen the Board of Directors in the Covid-19 situation and in the subsequent rebuilding stage. She has strong knowledge of listed companies’ financial matters and broad understanding of their importance to society.
The Shareholders’ Nomination Board further proposes that Jouko Karvinen be re-elected as Chairman of the Board. He has been a member of the Board since 2016 and the Chairman since 2017.
All candidates have given their consent to the position, and all, except Jukka Erlund and Maija Strandberg, are independent of the company and its significant owners. Jukka Erlund is not deemed to be independent of the company because Piia Karhu, Finnair’s Senior Vice President, Customer Experience, is a member of the Board of Directors of Kesko Plc and Jukka Erlund is the Executive Vice President, CFO of Kesko Plc. Maija Strandberg is not deemed to be independent of the company’s significant owners as she is a civil servant of the government of Finland.
The biographical details of Board members proposed for election can be found at Finnair’s company website: investors.finnair.com/en.
Composition of the Shareholders’ Nomination Board
The members of the Shareholders’ Nomination Board are Minna Pajumaa, Senior Financial Counsellor, Government Ownership Steering Department; Timo Sallinen, Investment Director, Varma Mutual Pension Insurance Company; Mikael Etola, Managing Director, Etola Oy; and Jouko Karvinen, Chairman of Finnair’s Board of Directors.