Appointment and diversity principles for Board members
The company adapted diversity principles for Board members at the Annual General Meeting 2016.
At Elisa diversity is seen as an essential part of corporate responsibility and as a factor in success that enables achievement of strategic targets and continuous improvement of customer intimacy.
In planning the composition of the Board of Directors, the shareholders’ nomination board takes into account the requirements of Elisa's business operations, the phase of development and the competence requirements of the Board committees. In appointing members of the Board the target is to ensure that the Board as a whole supports the development of Elisa's current and future business operations. Diversity plays a part in supporting this goal.
Diversity is considered from different perspectives. From Elisa’s point of view it is important to have Board members with diverse backgrounds in terms of competence, training, and experience of differing business operations, of varying stages of business development, and of leadership as well as diverse personal characteristics. Experience of international business environments and different cultures in addition to consideration of age and gender will support the diversity of the Board. The objective is to have at least two representatives of both genders.
A person elected as an Elisa Board member must have the competence required for the position and be able to devote a sufficient amount of time to the duties required. In forming the composition of the Board long-term needs and successor planning will be taken into account.
In the Annual General Meeting 6 April 2017 it was decided to amend the Articles of Association and therefore the General Meeting shall elect the Chairman and the Deputy Chairman of the Board of Directors. This change is applied from the Annual General Meeting 2018 onwards.
According to the Articles of Association, Elisa’s Board of Directors comprises a minimum of five and a maximum of nine members. The composition of the Board and the number of members shall be such that they enable the Board to perform its duties efficiently. Elisa's Shareholders' Nomination Board prepares the proposal for both the number of members of the Board of Directors and its composition. The members of the Board are appointed annually at Elisa's Annual General Meeting.
In 2017 at the Annual General Meeting seven members were elected to the Board of Directors. The competence, training, experience and personal characeristics of the Board of Directors are different and complement each other. The Board of Directors consists of 3 women and 4 men between 46 and 64 years of age. The composition of the Board of Directors as a whole is in accordance with Elisa's diversity principles.
The principles concerning the election of the Board and its diversity are available on the company's website at elisa.com.
Additional information is provided in Elisa's Shareholders Nomination Board's Charter.