Orthex Corporation: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting 2023

Orthex Corporation, Stock exchange release, 24 January 2023 at 4.00 p.m. EET

The Shareholders’ Nomination Board of Orthex Corporation proposes to the Annual General Meeting 2023 that the meeting would decide on the number, composition, and remuneration of the members of the Board of Directors as follows:
 
Number of members and composition of the Board of Directors

The Shareholders’ Nomination Board proposes that the Board of Directors would consist of five (5) members and that Sanna Suvanto-Harsaae, Markus Hellström, Jyrki Mäki-Kala and Jens-Peter Poulsen would be re-elected to the Board and that Anette Rosengren be elected as a new member to the Board, all for a term of office ending at the end of the next Annual General Meeting.

Satu Huber has informed the Shareholders’ Nomination Board that she is no longer available for re-election to the Board.

The new director nominee Anette Rosengren (b. 1966) is Swedish citizen and holds a bachelor’s degree in business administration. Since 2019, she serves Philip Morris International as the Managing Director for the Nordics. Prior to that, she held Managing Director position at Fazer Bakery in Sweden and CEO position at Lantmännen Doggy. Ms Rosengren started her professional career at Unilever in marketing and commercial roles and then joined Kraft Foods where she made over ten-year-career advancing to international director and VP positions with responsibilities mainly in marketing, category development, and strategic development. Since 2016, she is also a member of the Board of Directors of the Greenfood Group.

All director nominees have consented to their election and confirmed that they are independent of the company and its significant shareholders. Background information on the director nominees is available on the corporate website Board of Directors - Orthex Group.

Remuneration of the members of the Board of Directors

The Shareholders’ Nomination Board proposes that the remuneration of the members of the Board of Directors remains the same and that the Chair of the Board of Directors be paid a monthly fee of EUR 4,000 and other members of the Board of Directors a monthly fee of EUR 2,000. The Nomination Board further proposes that reasonable travel and other expenses related to the Board work be reimbursed in accordance with the company's travel rules.

The Shareholders’ Nomination Board consists of the representatives of the company’s four largest shareholders. The members of the Nomination Board are Maarit Toivanen, CEO and the Chair of the Board of Directors of Conficap Oy, Alexander Rosenlew, Annika Ekman, Head of Direct Equity Investments of Ilmarinen Mutual Pension Insurance Company, Mats Söderström, CEO of Thomasset Oy and, as an expert member, Sanna Suvanto-Harsaae, Chair of Orthex's Board of Directors. Maarit Toivanen chairs the Nomination Board.

The Annual General Meeting of Orthex Corporation is planned to be held on Tuesday, 18 April 2023. Orthex’s Board of Directors will convene the general meeting later.

Further enquiries:
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]

Distribution:
Nasdaq Helsinki Ltd
Main media
https:/investors.orthexgroup.com/

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 2021 was 88.7 million euros and operating profit 9.3 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.