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Shareholders' Nomination Board

Detailed information about our Shareholders' Nomination Board

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Shareholders' Nomination Board

The Shareholders' Nomination Board prepares proposals regarding the composition and remuneration of members of the Board of Directors. The Board engages the shareholders of the company closely and efficiently for preparation work of the election process of the Board.

The Nomination Board comprises four members and the Chairman of TietoEVRY’s Board of Directors. The representative of the largest shareholder shall be the Chairman of the Shareholders' Nomination Board unless otherwise decided by the Nomination Board. The Chairman of the Board of Directors shall be in charge of identifying the four largest shareholders of the company on 31 August and ask each of them to nominate a member to the board. Before the said date the company pursues to inform largest known nominee-registered shareholders about their possibilities to participate in the SNB appointment process. Should a shareholder not wish to exercise its right to appoint a member, the right shall be transferred to the next largest shareholder.

The largest shareholders were determined on the basis of the shareholdings registered in the Finnish and Swedish book-entry systems on 31 August 2019. The shareholders who wished to participate in the work of the Shareholders’ Nomination Board have nominated the following members:

  • Martin Oliw, Partner, Cevian Capital AB,
  • Petter Söderström, Investment Director, Solidium Oy,
  • Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company,
  • Satu Huber, Chief Executive Officer, Elo Mutual Pension Insurance Company and
  • Kurt Jofs, Chairman of the Board of Directors, Tieto Corporation.

As part of the decision on the statutory cross-border absorption merger of Tieto Corporation and EVRY ASA, the Extraordinary General Meeting resolved on 3 September 2019 to make a temporary deviation from the charter of the Tieto Shareholders' Nomination Board. In accordance with the resolution, in deviation from the current charter, the right to nominate members to the Shareholders' Nomination Board preparing proposals for General Meetings held during 2020 and, if the merger has been completed before the end of 2019 also for general meetings held during 2019, in both cases from the completion of the merger onwards, shall rest with the Chairman of the Board of Directors and the four largest shareholders who are registered in the shareholders' register on the date immediately following the registration date of the execution of the merger of EVRY into Tieto or, if not a business day, on the first business day following such registration date.

Further, as a precaution for the possibility that the execution of the merger has not taken place by 1 January 2020, the Extraordinary General Meeting resolved that the Shareholders' Nomination Board should have a reasonable time to prepare its proposals before the Annual General Meeting 2020 instead of having time until end of January 2020 and that the Shareholders' Nomination Board shall in such case publish its proposals as soon as practically possible.

Please read our Charter of the Shareholders' Nomination Board.

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