The Nomination Board of Glaston Corporation proposes to the Annual General Meeting, due to be held on April 9, 2024, that the number of members of the Board of Directors shall be seven (7) until the closing of the Annual General Meeting 2025, and that the current members of the Board of Directors Veli-Matti Reinikkala, Sebastian Bondestam, Antti Kaunonen, Sarlotta Narjus, Arja Talma, Tero Telaranta and Michael Willome shall be re-elected as Members of the Board of Directors.
According to the company’s Articles of Association, the Board of Directors elects from among its members the Chair and Deputy Chair. The Nomination Board recommends that Veli-Matti Reinikkala continues as the Chair of the Board of Directors.
With the exception of Antti Kaunonen, who has temporarily acted as the interim CEO of the company as of November 15, 2023, all proposed persons are determined to be independent in relation to the company according to the definition set out in the Corporate Governance Code. With the exception of Tero Telaranta and Sebastian Bondestam, all proposed persons are also determined to be independent of the significant shareholders of the company. Board Members Tero Telaranta and Sebastian Bondestam are dependent on a significant shareholder of the Company, Ahlstrom Capital B.V., whose ownership in the company is 26.39 percent, Tero Telaranta due to his position as the Director, Industrial Investments of A. Ahlström Oy and Sebastian Bondestam due to his position as a member of the Board of Directors of A. Ahlström Oy. Ahlstrom Capital B.V. is a group company of A. Ahlström Oy.
The candidate information is available on the company’s website at www.glaston.net/Investors. All candidates have given their consent to the election.
Chair of the Board of Directors Veli-Matti Reinikkala did not participate in decision-making when the Nomination Board made its proposal on the number of the Members of the Board of Directors and on the Board of Directors’ composition and remuneration.
Shareholders’ Nomination Board
The Nomination Board consists of the representatives of the four largest shareholders and also, as an expert member, of the Chair of the Board of Glaston Corporation. Based on the ownership situation on September 1, 2023, Glaston’s Nomination Board consists of the following members: Lasse Heinonen, Chair (nominated by Ahlstrom Capital B.V.), Jaakko Kurikka (nominated by Hymy Lahtinen Oy), Pekka Pajamo (nominated by Varma Mutual Pension Insurance Company) and Esko Torsti (nominated by Ilmarinen Mutual Pension Insurance Company).