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The Annual General Meeting of YIT Corporation decided on 15.3.2016 to establish a Shareholders’ Nomination Board, to prepare proposals on the election and remuneration of the members of the Board of Directors for the Annual General Meeting.
The Shareholders’ Nomination Board of YIT Corporation is a body comprised of the company’s shareholders or their representatives, the duty of which is to prepare proposals on the election and remuneration of the members of the Board of Directors for the Annual General Meeting and, where necessary, for the Extraordinary General Meeting. The primary purpose of the Nomination Board is to ensure that the Board of Directors and its members have sufficient expertise, competence and experience in view of the Company’s needs, and to prepare proposals, with justifications, on the election and remuneration of members of the Board of Directors to the General Meeting for this purpose.
YIT Corporation’s three largest shareholders according to Euroclear’s shareholder register on August 31, 2020 and according to the principles of the standing order have had the right to nominate representatives to the Nomination Board. According to the mentioned standing order, a shareholder group can agree on appointing a joint representative to the Nomination Board. The following two shareholder groups have agreed on appointing a joint representative: PNT Group Oy, Noora Forstén, Fideles Oy, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Kristian Pentti; and as the second one, Tercero Invest AB, Föreningen Konstsamfundet r.f. and Alexander Ehrnrooth.
YIT’s three largest shareholders, that are entitled to nominate a representative to YIT Corporation’s shareholder’s nomination board, are the above-mentioned shareholder groups and Varma Mutual Pension Insurance Company. The following persons have been nominated as their representatives in YIT’s Nomination Board:
Juhani Mäkinen, Counsellor of Law, shareholder group (14.90% of shares and votes) PNT Group Oy, Noora Forstén, Fideles Oy, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Kristian Pentti
Alexander Ehrnrooth, CEO, shareholder group (13.10% of shares and votes) Tercero Invest AB, Föreningen Konstsamfundet r.f. and Alexander Ehrnrooth
Risto Murto, President and CEO, Varma Mutual Pension Insurance Company (7.55% of shares and votes)
Counsellor of Law Juhani Mäkinen was elected the Chairman of the Nomination Board. Harri-Pekka Kaukonen, the Chairman of YIT Corporation’s Board of Directors, participates in the Nomination Board’s work as an expert member.
The Nomination Board prepares the proposals concerning Board members and Board compensation for the following Annual General Meeting.
The standing order of the Nomination Board decided by the Annual General Meeting of YIT Corporation on 15.3.2016 regulates in more detailed the appointment and composition of the Nomination Board and specifies its duties and responsibilities.