Nordea complies with applicable requirements regarding independence of the Board according to Finnish laws and regulations as well as according to the Finnish Corporate Governance Code.
The evaluation of independence according to Finnish laws and regulations has resulted in that all Board members are determined to be independent.
The evaluation of independence according to the Finnish Corporate Governance Code has resulted in that all Board members are determined to be independent of Nordea Bank Abp as well as of its significant shareholders with the following exceptions.
- Torbjörn Magnusson is dependent of Nordea Bank Abp’s significant shareholders. Torbjörn Magnusson is employed by Sampo Group and Sampo plc owns more than ten per cent of all shares in Nordea Bank Abp; and
- all Board members and the deputy Board member appointed by the employees are employed by the Nordea Group and therefore dependent of Nordea Bank Abp.
No Board member elected by the shareholders at the General Meeting is employed by or works in an operative capacity in the Nordea Group.
Updated: April 2020
The table shows the independence of the individual Board members in relation to Nordea Bank Abp as well as to the major shareholders.
|Board members||Independent in relation to Nordea Bank Abp
||Independent in relation to major shareholders
|Elected by shareholders|
|Torbjörn Magnusson, Chairman||Yes||No|
|Kari Jordan, Vice Chairman||Yes||Yes|
|Petra van Hoeken||Yes||Yes|
|Appointed by employees*|
|Dorrit Groth Brandt||No||Yes|
|Hans Christian Riise||No||Yes|
* One of the appointed members is a deputy member. Who this is changes every year according to a routating schedule.
Updated: March 2019