Tikkurila's Annual General Meeting decided in 2012 to establish a shareholders' nomination board, which is the body responsible for preparing and presenting proposals to the Annual General Meeting for the number, composition, the chairman and vice chairman as well as remuneration of the Board of Directors.
The Nomination Board is convened annually so that each of the Tikkurila’s three largest shareholders, who at the end of April preceding the Annual General Meeting are registered in the shareholders' register, are requested to nominate one member to the Nomination Board. The largest shareholders are determined annually on the basis of the registered holdings in the company's shareholders' register held by Euroclear Finland Ltd.
On April 30, 2019, Tikkurila's three largest registered shareholders were Oras Invest Ltd, Varma Mutual Pension Insurance Company and Mandatum Life Insurance Company Ltd. Mandatum Life Insurance Company did not wish to use its right to appoint a member to the Nomination Board, and thus the right was passed on to the next largest shareholder which was Ilmarinen Mutual Pension Insurance Company. The term of the members of the Nomination Board end upon the appointment of the following Nomination Board
Shareholder's Nomination Board 2019
- Annika Paasikivi, President & CEO, Oras Invest Ltd
- Reima Rytsölä, Deputy CEO, Investments, Varma Mutual Pension Insurance Company
- Annika Ekman, Head of Direct Equity Investments, Ilmarinen Mutual Pension Insurance Company
- Jari Paasikivi, Chairman of the Board of Directors, Tikkurila Oyj (expert member of the Nomination Board)