Stora Enso's Shareholders' Nomination Board composition

Rhea-AI Summary

Stora Enso, a leading provider of renewable products in packaging, biomaterials, and wooden construction, has announced the composition of its Shareholders' Nomination Board. The board, established to exist until otherwise decided, will annually prepare proposals for the company's Annual General Meeting regarding the election and remuneration of Board members and committees, as well as appointments of the Chair and Vice Chair.

The Nomination Board consists of Kari Jordan (Chair of Stora Enso's Board), Håkan Buskhe (Vice Chair), Jouko Karvinen (Chair of Solidium Oy's Board), and Marcus Wallenberg (Chair of FAM AB's Board), with Wallenberg elected as the Nomination Board's Chair. Solidium Oy and FAM AB were Stora Enso's two largest shareholders as of August 31, 2024.

Positive

• Establishment of a Shareholders' Nomination Board to enhance corporate governance
• Representation of major shareholders (Solidium Oy and FAM AB) on the Nomination Board

Negative

• None.

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Data tracked by StockTitan Argus on the day of publication.

STORA ENSO OYJ STOCK EXCHANGE RELEASE 6 September 2024 at 11:15 EEST

HELSINKI, Sept. 6, 2024 /PRNewswire/ -- The Stora Enso Shareholders' Nomination Board has been established to exist until otherwise decided. The Shareholders' Nomination Board annually prepares proposals for Stora Enso Oyj's Annual General Meeting concerning the election and remuneration of members of the Stora Enso Board of Directors and Board committees, as well as the appointments of the Chair and the Vice Chair of the Board of Directors. The Shareholders' Nomination Board consists of the Chair of Stora Enso's Board of Directors, the Vice Chair of the Board of Directors and two members appointed by the two largest shareholders (one each) as of 31 August each year.

Stora Enso's two largest shareholders on 31 August 2024 were Solidium Oy and FAM AB.

The Shareholders' Nomination Board has been appointed and consists of the following members: Kari Jordan (Chair of Stora Enso's Board of Directors), Håkan Buskhe (Vice Chair of Stora Enso's Board of Directors), Jouko Karvinen (Chair of the Board of Directors of Solidium Oy), and Marcus Wallenberg (Chair of the Board of Directors of FAM AB).

The Shareholders' Nomination Board has elected Marcus Wallenberg as its Chair.

Part of the global bioeconomy, Stora Enso is a leading provider of renewable products in packaging, biomaterials and wooden construction, and one of the largest private forest owners in the world. We create value with our low-carbon and recyclable fiber-based products, through which we support our customers in meeting the demand for renewable sustainable products. Stora Enso has approximately 20,000 employees and our sales in 2023 were EUR 9.4 billion. Stora Enso shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R). In addition, the shares are traded in OTC Markets (OTCQX) in the USA as ADRs and ordinary shares (SEOAY, SEOFF, SEOJF). storaenso.com/investors 

For further information, please contact:
Carl Norell
SVP Corporate Communications
tel. +46 72 241 0349

Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 210 7691

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/stora-enso-s-shareholders--nomination-board-composition,c4034161

 

View original content:https://www.prnewswire.com/news-releases/stora-ensos-shareholders-nomination-board-composition-302240443.html

SOURCE Stora Enso Oyj

FAQ

What is the purpose of Stora Enso's Shareholders' Nomination Board?

The Shareholders' Nomination Board prepares proposals for Stora Enso's Annual General Meeting concerning the election and remuneration of Board members and committees, as well as appointments of the Chair and Vice Chair of the Board of Directors.

Who are the members of Stora Enso's Shareholders' Nomination Board as of September 6, 2024?

The members are Kari Jordan (Chair of Stora Enso's Board), Håkan Buskhe (Vice Chair), Jouko Karvinen (Chair of Solidium Oy's Board), and Marcus Wallenberg (Chair of FAM AB's Board), with Wallenberg elected as the Nomination Board's Chair.

How are the members of Stora Enso's Shareholders' Nomination Board selected?

The board consists of the Chair and Vice Chair of Stora Enso's Board of Directors, and two members appointed by the two largest shareholders (one each) as of August 31 each year.

What was Stora Enso's (SEOAY) sales figure in 2023?

Stora Enso reported sales of EUR 9.4 billion in 2023.