Shareholders’ Nomination Committee
Municipality Finance Plc has a Shareholders’ Nomination Committee (the Nomination Committee) established by the Annual General Meeting (the AGM).
The Nomination Committee is annually responsible for preparing the following proposals to the AGM:
- the number of members of the Board of Directors (the Board);
- the remuneration of the Board; and
- the individuals to be elected as the members of the Board.
The Nomination Committee is also responsible for preparing a proposal for the chairperson and vice chairperson of the Board to the Board to be elected.
The Nomination Committee must in its activities consider the requirements set forth by the Finnish Act on Credit Institutions.
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 cannot have an employment relationship with the company. The company’s largest shareholder appoints its representative as the Chair of the Nomination Committee.
The Chair of the Board attends the Nomination Committee meetings as an expert and as a part of this duty, prepares the meetings together with the secretary of the Board to support the Chair of the Nomination Committee.
The following individuals have been appointed as members of the Nomination Committee:
- Timo Kietäväinen, Chairman (CEO, Keva)
- Timo Reina (Deputy Managing Director, 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)
No remuneration is paid to the members of the Nomination Committee.