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Olvi plc´s Board of Directors

Administration of the company and the appropriate organisation of its operations is the duty of the Board of Directors, which shall include at least four (4) and at most six (6) members. The members of the Board of Directors shall be evaluated and elected for one year at a time at the Annual General Meeting of Olvi plc. The Board shall elect a Chairman and a Vice Chairman from amongst its members. The Managing Director is not a member of the Board of Directors.

The names of the candidates for Board members and their personal details are published on the company’s Web site together with the notice to convene the General Meeting.

A minimum of 11 to 12 Board meetings shall be convened annually. If necessary, a meeting can be conducted over the telephone. The Board of Directors is responsible for the duties prescribed in the Limited Liability Companies Act and the company’s Articles of Association. The Board monitors the development of the company’s business operations on the basis of monthly reports and other material provided by the company’s management.

The members of the Board are Pentti Hakkarainen, Nora Hortling, Lasse Heinonen, Elisa Markula, Päivi Paltola and Heikki Sirviö. Intorduction of the members of the Board

Committees

Audit Committee –  Lasse Heinonen, Päivi Paltola and Nora Hortling.
Remuneration Committee – Pentti Hakkarainen, Heikki Sirviö ja Elisa Markula.

Rules of Procedure:
Olvi Plc Remuneration Committee – Rules of Procedure
Olvi Plc Audit Committee – Rules of Procedure

Performance evaluation of the Board of Directors

To ensure the efficiency of Board work, the Board of Directors carries out annual self-evaluation of its operations and working methods. The 2018 evaluation was carried out in November.

The members of Olvi plc’s Board of Directors shall represent diversified knowledge and skills, including industry knowledge, and possess a variety of professional backgrounds in a way that allows work and international experience, different ages and genders to support and supplement each other for the good of the company’s business and to increase shareholder value. In addition to the competence required for the position, anyone to be elected a Board member shall have the possibility to devote a sufficient amount of time to attending to the duties.

A legal person, a minor, anyone under guardianship or with restricted legal competency, bankrupt or banned from doing business cannot be elected a Board member.

Board meetings in 2018

The number of meetings during the previous financial period was sixteen (16), of which one (1) was a telephone meetings.

Attendance of members at meetings in 2018:

Pentti Hakkarainen, Chairman of the Board100,0 %16/16
Hortling Nora, Vice Chairman of the Board100,0 % 16/16
Autere Jaakko, Member until 15 April 2018100,0 % 4/4
Lager Esa, Member until 15.4.2018100,0 % 4/4
Markula Elisa, Member81,0 % 13/16
Sirviö Heikki, Member94,0 % 15/16
Heinonen Lasse, Member since 16 April 2018100,0 %12/12
Paltola Päivi, Member since 16 April 2018100,0 %12/12

Remuneration Committee meetings in 2018

The number of meetings during the financial period was two (2).

Hakkarainen Pentti100,0 %2/2
Markula Elisa100,0 %2/2
Sirviö Heikki 100,0 %2/2

Audit Committee meetings in 2018

The number of meetings during the financial period was two (2).

Heinonen Lasse100,0 %2/2
Hortling Nora100,0 %2/2
Paltola Päivi100,0 %2/2

 

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