Shareholders’ Nomination Committee
Municipality Finance has a Shareholders’ Nomination Committee, established by the company’s Annual General Meeting.
For the Annual General Meeting, the Shareholders’ Nomination Committee has the duty of preparing proposals for the number of Board members for subsequent terms, remuneration of the members of the Board, and the individuals to be elected as members of the Board of Directors. The Nomination Committee is also responsible for preparing a proposal for the chairperson and vice chairperson of the Board of Directors for each Board to be elected. In its activities, the Nomination Committee must take account of the requirements set forth by the Finnish Credit Institution Act.
The Nomination Committee consists of four members, three of whom are appointed by the three largest shareholders (one member by each shareholder) according to the share register. The fourth member is appointed by the Association of Finnish Local and Regional Authorities. The individuals appointed must not have an employment relationship with the company. The chairperson of the Nomination Committee is a representative appointed by the company’s largest shareholder.
The parties mentioned above appointed the following individuals as members of the Shareholders’ Nomination Committee:
- Timo Kietäväinen, Chairman (CEO, Keva)
- Minna Karhunen (Director General, the Association of Finnish Local and Regional Authorities)
- Sami Sarvilinna (Chief Executive Officer, City of Helsinki)
- Maija Strandberg (Senior Finance Councellor, Prime Minister’s Office, Government ownership steering)