The Shareholders´ Nomination Board
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.
Composition of YIT Corporation's Nomination Board
YIT Corporation’s three largest shareholders according to Euroclear’s shareholder register on August 31, 2018 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 shareholders have agreed on appointing a joint representative: PNT Group Oy, Noora Forstén, Fideles Oy, Kristina Pentti-von Walzel, Eva Pentti-Kortman and Kristian Pentti.
YIT’s three largest shareholders, that are entitled to nominate a representative to YIT Oyj’s shareholder’s nomination board, are the above mentioned shareholder group, Tercero Invest AB and Varma Mutual Pension Insurance Company. The following person have been nominated as their representatives to YIT’s Nomination Board:
Juhani Mäkinen, Counsellor of Law, the shareholder group (14.89% of shares and votes)
Alexander Ehrnrooth, President and CEO, Tercero Invest AB (10.19% shares and votes)
Risto Murto, President and CEO, Varma Mutual Pension Insurance Company (7.55% shares and votes)
The Chairman of YIT Corporation’s Board of Directors, Harri-Pekka Kaukonen, participates in the Nomination Board’s work as an expert member. The Nomination Board’s Chairman is Counsellor of Law Juhani Mäkinen.
The Nomination Board prepares the proposals concerning Board members and Board compensation for the following 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.