Marimekko Corporation, Stock Exchange Release, 25 January 2022 at 3.00 p.m.
Shareholders' proposals to the Annual General Meeting for the number of Marimekko's Board members, the composition of the Board and its remuneration
Shareholders representing in total approximately 27% of all of Marimekko Corporation's shares and votes have made a proposal to the Annual General Meeting to be held on 12 April 2022 for the number of members of the Board of Directors, the composition of the Board and its remuneration.
Proposal for the number of members of the Board of Directors
Shareholders who represent approximately 27% of all of Marimekko Corporation's shares and votes have informed the company that they propose to the Annual General Meeting that six (6) members be elected to the Board of Directors.
Proposal for the composition of the Board of Directors
The above-mentioned shareholders have also informed the company that they propose that Carol Chen, Mika Ihamuotila, Mikko-Heikki Inkeroinen and Tomoki Takebayashi be re-elected to the Board of Directors until the close of the next Annual General Meeting. Of the current members of the Board, Elina Björklund and Catharina Stackelberg-Hammarén have announced that they will not be available for re-election.
The same shareholders further propose that Teemu Kangas-Kärki and Marianne Vikkula be elected as new members of the Board. Both of them are independent of the company and its significant shareholders according to the evaluation of the above-mentioned shareholders.
Teemu Kangas-Kärki (b.1966, M.Sc. (Econ.)) is CFO of the tyre manufacturer Nokian Renkaat. Previously, Kangas-Kärki has worked for the global lifestyle company Fiskars as COO and CFO as well as in other leadership positions in finance and controlling for example for the media company Alma Media, the trading sector company Kesko and the food and beverage company Nestlé.
Marianne Vikkula (b.1992, B.Sc. (IEM)) is Vice President, New Markets of the technology company Wolt. Before joining Wolt, Vikkula worked as CEO of Slush, a leading startup event as well as in other leadership positions in the organization.
"I want to express my warmest thanks to Elina and Catharina for their valuable contribution in executing Marimekko's growth and internationalization over the past years. The value-based, timeless and sustainable Marimekko lifestyle brand is more relevant than ever which supports our growth objectives also in the future," Chairman Mika Ihamuotila says.
The proposed Board members have informed the company that in the event that they are elected, they intend to elect Mika Ihamuotila as Chairman of the Board and Teemu Kangas-Kärki as Vice Chairman of the Board as well as Teemu Kangas-Kärki as Chairman and Mikko-Heikki Inkeroinen and Marianne Vikkula as members of the Audit and Remuneration Committee.
All proposed persons have given their consent to the election. Biographical details of the new proposed Board members are available on the company's website at company.marimekko.com under Investors/Management/General Meeting.
Proposal for the remuneration of the Board
In addition, the above-mentioned shareholders have informed the company that they propose to the Annual General Meeting that the fees payable to the members and the Chairman of the Board would remain unchanged from 2021 and be as follows: an annual remuneration of EUR 48,000 would be paid to the Chairman, EUR 35,000 to the Vice Chairman and EUR 26,000 to the other Board members. In addition, a separate remuneration would be paid for committee work to persons elected to a committee as follows: EUR 2,000 per meeting to Chairman and EUR 1,000 per meeting to members. The fees for committee work are unchanged from 2021.
Furthermore, the above-mentioned shareholders propose that approximately 40% of the annual remuneration would be paid in Marimekko Corporation's shares acquired from the market and the rest in cash. The shares would be acquired directly on behalf of the Board members within two weeks from the release of the interim report for 1 January-31 March 2022 or if this would not be possible due to the insider rules, as soon as possible thereafter. The annual remuneration would be paid entirely in cash, if a Board member on the date of the Annual General Meeting, 12 April 2022, holds the company's shares worth more than EUR 1,000,000.
The above proposals will be included in the notice of the Annual General Meeting which will be published separately.
Photos: https://mediabank.marimekko.fi/l/WShvnXWVHjBN
Further information:
Mika Ihamuotila, Chairman of the Board, tel. +358 9 758 71
MARIMEKKO CORPORATION
Corporate Communications
Anna Tuominen
Tel. +358 40 584 6944
anna.tuominen@marimekko.com
DISTRIBUTION:
Nasdaq Helsinki Ltd
Key media
Marimekko is a Finnish lifestyle design company renowned for its original prints and colors. The company's product portfolio includes high-quality clothing, bags and accessories as well as home décor items ranging from textiles to tableware. When Marimekko was founded in 1951, its unparalleled printed fabrics gave it a strong and unique identity. Marimekko products are sold in about 40 countries. In 2020, brand sales of the products worldwide amounted to EUR 286 million and the company's net sales were EUR 124 million. Roughly 150 Marimekko stores serve customers around the globe. The key markets are Northern Europe, the Asia-Pacific region and North America. The Group employs about 420 people. The company's share is quoted on Nasdaq Helsinki Ltd.?www.marimekko.com
