Orthex Corporation: Change in the composition of the Shareholders’ Nomination Board

Orthex Corporation, Stock exchange release, 1 December 2021 at 6.30 p.m. EET

In accordance with the Charter of the Shareholders’ Nomination Board, Juuso Kivinen has resigned from the Nomination Board on 1 December 2021 as the shareholder he represented, Sponsor Fund IV Ky, the company's former majority shareholder, sold the rest of its shares in an accelerated book-building process on 17 November 2021 following the expiry of the lock-up period agreed on in connection with the company’s IPO.

Resulting from Sponsor Fund IV Ky’s share sale, Mutual Pension Insurance Company Ilmarinen became one of the company’s four largest shareholders and announced that it will appoint its representative to the Shareholders’ Nomination Board.

As a result, the representatives of the four largest shareholders in the Nomination Board are:

• Maarit Toivanen, CEO, Chair of Board of Directors, Conficap Oy 
• Alexander Rosenlew
• Annika Ekman, Head of Direct Equity Investments, Mutual Pension Insurance Company Ilmarinen
• Mats Söderström, CEO, Thomasset Oy
  
  and as an expert member Sanna Suvanto-Harsaae, Chair of Orthex's Board of Directors. Maarit Toivanen chairs the Nomination Board.

The duties of the Shareholders’ Nomination Board include: 

• preparing and presenting a proposal to the Annual General Meeting concerning the remuneration of the members of the Board of Directors. 
• preparing and presenting a proposal concerning the number of members of the Board of Directors to be made to the Annual General Meeting within the frames of the Articles of Association. 
• preparing and presenting to the Annual General Meeting a proposal concerning the composition of the Board of Directors; and 
• the search for candidates to succeed the members of the Board of Directors. 

For more information, please contact:

Alexander Rosenlew, CEO, Orthex Corporation
Tel. +358 (0)40 500 3826
[email protected]

Saara Mäkelä, CFO, Orthex Corporation
Tel. +358 (0)40 083 8782
[email protected]
 

Orthex in brief

Orthex is a leading Nordic houseware producer that strives to make consumers’ everyday life easier with its products that are presented under the consumer brands SmartStore™ in storage products, GastroMax™ in kitchenware and Orthex™ in home and plant care categories. Orthex aims to be the industry forerunner in sustainability.

Orthex’s net sales in 2020 was 75.9 million euros and operating profit 12.3 million euros. The company has customers in more than 40 countries and local sales offices in Finland, Sweden, Norway, Denmark, Germany, France, and the United Kingdom. Orthex is listed on the Nasdaq Helsinki stock exchange.