Independence

Nordea complies with applicable rules regarding the independence of the Board. The Nomination Committee considers all of the members elected by the shareholders to be independent of the Company and its executive management.

All Board members elected by the shareholders, apart from Björn Wahlroos and Kari Stadigh are independent in relation to the Company’s major shareholders. Björn Wahlroos is chairman of Sampo plc and Kari Stadigh is managing director and CEO of Sampo plc, which owns more than ten per cent of all shares and votes in Nordea Bank AB (publ).

Thus, the number of Board members who are independent in relation to the Company and its executive management, and independent in relation to the Company’s major shareholders, exceeds the minimum requirements.

No Board member elected by the General Meeting is employed by or works in an operative capacity at the Company.

All Board members and deputy Board member appointed by the employees are employed by the Group and therefore not independent of the Company.

Updated: April 2014

 

The table shows the independence of the individual Board members in relation to the Company and its executive management as well as to the major shareholders, in accordance with the consideration of the Nomination Committee.

Independence of the individual Board member in relation to the

Board members Company and its
executive management
Major shareholders
Elected by AGM    
Björn Wahlroos, Chairman  Yes No
Marie Ehrling, Vice Chairman  Yes Yes 
Elisabeth Grieg Yes  Yes 
Tom Knutzen  Yes  Yes 
Robin Lawther Yes  Yes 
Lars G Nordström  Yes  Yes 
Sarah Russell  Yes  Yes 
Kari Stadigh  Yes  No 
Appointed by employees* 
Kari Ahola   No Yes 
Toni H. Madsen    No Yes 
Lars Oddestad   No Yes 
Hans Christian Riise    No Yes 



 

* One of the appointed members is a deputy member, whom this is changes every halfyear according to a routating schedule.
      
Updated: July 2014