Orthex Corporation: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting 2025

 
Orthex Corporation, Stock exchange release, 17 January 2025 at 1.00 p.m. EET

The Shareholders’ Nomination Board of Orthex Corporation proposes to the Annual General Meeting 2025 that the meeting would decide on the number, composition, and remuneration of the members of the Board of Directors as follows:
 
Number of members and composition of the Board of Directors

The Shareholders’ Nomination Board proposes that the Board of Directors would consist of five (5) members and that Sanna Suvanto-Harsaae, Markus Hellström, Jyrki Mäki-Kala, and Anette Rosengren be re-elected to the Board and that Tuomas Yrjölä be elected as a new member to the Board, all for a term of office ending at the end of the next Annual General Meeting.

The new director nominee Tuomas Yrjölä (b. 1978) is Finnish citizen living in Germany and holds a master’s degree in economics. He has made his entire professional career in consumer goods business outside Finland and is currently President of Global Marketing and Innovation and member of the Executive Management Team at the Swedish Essity Aktiebolag which is a publicly listed leading hygiene and health company. Prior to this, he held the position of President, Global Brand, Innovation, and Sustainability, and earlier the position of Vice President carrying responsibility for Essity’s Global Baby Care and Feminine Care categories. Mr Yrjölä started his professional career at the American multinational consumer goods corporation Procter & Gamble where he made over ten-year career in managerial positions with responsibilities in brand management and marketing in Sweden, Switzerland and the USA. Since 2016, he is a supervisory board member at UCM AV, a technology joint-venture between Essity and Japanese Unicharm Corporation with joint operations in North America, Europe, Asia and Australia.

All director nominees have consented to their election and confirmed that they are independent of the company and its significant shareholders. Background information on the director nominees is available on the corporate website Board of Directors - Orthex Group. The CV of the new director nominee Tuomas Yrjölä is also attached to this release.

Remuneration of the members of the Board of Directors

The Shareholders’ Nomination Board proposes that the monthly remuneration of the members of the Board of Directors remains the same and that the Chair of the Board of Directors be paid a monthly fee of EUR 4,000 and other members of the Board of Directors a monthly fee of EUR 2,000. The Nomination Board further proposes an introduction of meeting-specific fees so that a meeting fee of EUR 250 is paid for a meeting held in the Board member's country of residence or as a remote meeting, and a meeting fee of EUR 500 for a meeting held elsewhere than in the Board member’s country of residence and that reasonable travel and other expenses related to the Board work be reimbursed in accordance with the company's travel rules.

The Shareholders’ Nomination Board consists of the representatives of the company’s four largest shareholders. The members of the Nomination Board are Erik Toivanen, CEO of Conficap Oy, Alexander Rosenlew, Annika Ekman, Head of Direct Equity Investments of Ilmarinen Mutual Pension Insurance Company, Erkka Kohonen, Senior Portfolio Manager of Varma Mutual Pension Insurance Company and, as an expert member, Sanna Suvanto-Harsaae, Chair of Orthex's Board of Directors. Erik Toivanen chairs the Nomination Board.

The Annual General Meeting of Orthex Corporation is planned to be held on Tuesday, 29 April 2025. Orthex’s Board of Directors will convene the general meeting later.

Further enquiries:
Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
alexander.rosenlew@orthexgroup.com

Saara Mäkelä, CFO, Orthex Corporation
Tel. +358 (0)40 083 8782
saara.makela@orthexgroup.com

Distribution:
Nasdaq Helsinki Ltd
Main media
https:/investors.orthexgroup.com/
 

Orthex in brief

Orthex (ORTHEX, Nasdaq Helsinki, Finland) is a leading Nordic houseware company. Orthex offers a broad assortment of practical and durable household products with a mission to make consumers’ everyday life easier. Orthex main consumer brands are SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and plant care categories. Orthex aims to be the industry forerunner in sustainability and to become carbon neutral in its production by 2030. Read more www.orthexgroup.com.

Orthex’s net sales in 2023 were 85.9 million euros. The company has customers in more than 40 countries and local sales organisations in the Nordics, Germany, France, the UK, and the Benelux.

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