Harvia Plc, Stock Exchange Release, January 31, 2022 at 16:00 PM EET
Proposals of Harvia Plc’s Shareholders’ Nomination Board to the Annual General Meeting 2022
The Shareholders’ Nomination Board of Harvia Plc proposes the following to the Annual General Meeting planned to be held on 7 April 2022:
Number of members of the Board of Directors
The Nomination Board proposes that the number of members of the Board of Directors will be increased by a maximum of one member, from the current five to six members.
Proposal for members of the Board of Directors
The Shareholders’ Nomination Board proposes that Olli Liitola, Sanna Suvanto-Harsaae, Anders Holmén and Hille Korhonen be reappointed to the Board of Directors. The Nomination Board proposes that Heiner Olbrich be appointed as a new member of the Board of Directors.
All proposed persons have given their consent to the appointment. They are independent of the company and of the major shareholders of the company.
In addition to Heiner Olbrich, the Shareholders’ Nomination Board has considered nominating one new member to the Board of Directors. The Nomination Board or the shareholders in the Nomination Board will request the company to announce the possible proposal if the availability of the new candidate can be confirmed before publishing the notice to the Annual General Meeting 2022.
The Nomination Board proposes to the Annual General Meeting that Olli Liitola be re-elected as the Chair of the Board of Directors and Sanna Suvanto-Harsaae as the Deputy Chair of the Board of Directors.
Heiner Olbrich, b. 1965, worked as Managing Director and Global Chief Marketing & Sales Officer at Miele in Germany in 2011–2014, as Senior Vice President, Sales, Global in 2009–2010 and Vice President Sales EMEA in 2006–2009 at Adidas, and as Consultant, Partner and Head of the FMCG Practice Group at Roland Berger Strategy Consultants in 1995–2006. In 1993–1995, he worked as Inhouse Consultant and Project Manager at the German retail chain Kaufhof.
Currently, Heiner Olbrich serves as professional board member, and his current board memberships include Chair of Board of Directors of Björn Borg, Sweden, 2015–, Member and Deputy Chairman, Supervisory Board of Eckes-Granini, Germany, 2018– and Member of Advisory Board of Warsteiner Brauerei, 2014–. In preparing its proposals, the Nomination Board has determined that Heiner Olbrich strengthens the expertise and experience of the Board in consumer business and distribution in Central Europe. Heiner Olbrich is a German citizen and holds a PhD in Economics and Master of Science in Business Administration.
The Nomination Board notes that the proposed changes in the Board composition correspond to the diversity principles approved for the company. When electing Board members, attention shall be paid to members’ mutually complementary experience and competence. According to this proposal, there would be two female and three male members in the Board.
Remuneration of the members of the Board of Directors
The Shareholders’ Nomination Board proposes that the remuneration be paid to the Board members as follows: Monthly remuneration: The Chair of the Board of Directors is paid EUR 4,500 (2021: EUR 3,500), Vice Chair of the Board and other members of Board of Directors are paid EUR 2,500 (2021: EUR 2,000). The Chair of the Audit Committee is paid EUR 1,300 a month (2021: EUR 1,300) and members of Audit Committee are paid EUR 750 a month (2021: EUR 750).
Further, it is proposed that the members of Board of Directors who live outside Finland will be paid EUR 900 for each meeting, if the member travels to Finland only for that meeting. When the member of Board of Directors attends the meeting by telephone or other electronic means, no fee will be paid for that meeting. No fee is paid for decisions made without convening a meeting.
It is proposed that the travel expenses of the members of the Board of Directors are compensated in accordance with the company’s travel rules.
Shareholders’ Nomination Board
The Chair of the Nomination Board is Juho Lipsanen, Member of the Board of Onvest Oy. Other members are Heikki Savolainen, Managing Director of WestStar Oy, Pertti Harvia, Chair of the Board of Tiipeti Oy and Annika Ekman, Head of Direct Equity Investments at Keskinäinen Eläkevakuutusyhtiö Ilmarinen. In addition, Olli Liitola, the Chair of the Board of Directors of Harvia, has served as an expert in the Nomination Board without being a member.
The Shareholders’ Nomination Board made the above-mentioned proposals unanimously. The proposals by the Nomination Board will be included in the notice convening the 2022 AGM which will be announced later.
Further information:
Juho Lipsanen, Chair of the Shareholders’ Nomination Board, Tel. +358 40 706 6030
Ari Vesterinen, CFO, Secretary of the Nomination Board, Tel. +358 40 505 0440
Harvia in brief:
Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.
Harvia’s revenue totaled EUR 109.1 million in 2020. Harvia Group employs more than 800 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.
Read more: https://harviagroup.com
