Evaluation and diversity
Board evaluation
The Board conducted an annual self-assessment of its operations and working methods during the year 2024. 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 support and challenge the Company's management. Furthermore, diversity promotes open discussion and variety in perspectives, integrity in decision making, good corporate governance, and effective supervision of both the Board and the management, and it also supports effective succession planning.
The Shareholders’ Nomination Board evaluates the number of members on the Board, its composition and the competence requirements of the Board in the 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 is sufficiently diverse in terms of educational and professional backgrounds, gender, age and nationality, and whether it possesses an appropriate mix of relevant knowledge and experience and different perspectives as well as relevant industry knowledge, to address the needs of the company.
The most important nomination criteria for Board candidates are competency, knowledge and experience, personal qualities and integrity. The Board shall have a balanced gender representation in line with the targets set out in the Finnish Limited Liability Companies Act for the under-represented gender. In addition, candidates must also have the possibility to devote sufficient amount of time to Board work.
The objectives concerning the diversity of the Board as set out in the Board diversity principles have been achieved well. With regards to diversity in terms of gender, both genders are represented in the Board. The composition of the Board represents a broad range of business knowledge and competencies and qualifications to address the needs of the Company.
Updated on May 28, 2025