Evaluation and diversity

Board evaluation

The Board conducted an annual self-assessment of its operations and working methods during the year 2023. The assessment was conducted internally. The results of the assessment were reviewed and discussed within the Board. The results were also presented to the Shareholders’ Nomination Board.

Additionally, at the end of most of its meetings the Board assesses the preparations for the meeting, the course of the meeting and its own operations in line with the principle of continuous development.

Board diversity principles

At Suominen diversity has been recognized as an essential success factor. Diversity in the Board’s competencies, experience and opinions promotes openness to new ideas and helps the Board in effectively supporting and challenging the company’s management. Furthermore, diversity promotes open discussion and integrity in decision making, good corporate governance, and effective supervision of both the Board and the management, and it also supports succession planning.

The Shareholders’ Nomination Board evaluates the number of members and composition of the Board and its competence requirements in light of the present and future needs of the company. When assessing the composition of the Board, the Nomination Board considers, among other things, whether the Board possesses a broad range of business knowledge and members representing both genders and various ages. It is Suominen’s objective to have both men and women on its Board.

It is fundamental that the Nomination Board’s final proposal on the board composition to the General Meeting of Shareholders is based on the qualifications and competencies of each candidate. In addition, candidates must also have the possibility to devote sufficient amount of time to Board work.

Updated on April 5, 2024