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
|Elected by AGM|
|Björn Wahlroos, Chairman||Yes||No|
|Marie Ehrling, Vice Chairman||Yes||Yes|
|Lars G Nordström||Yes||Yes|
|Appointed by employees*|
|Toni H. Madsen||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