Board of directors

According to the Articles of Association Outotec's Board of Directors shall consist of no fewer than five (5) and no more than ten (10) members. The General Meeting of Shareholders elects the Chairman, Vice Chairman, and other members of the Board of Directors. The term of office of a member of the Board of Directors shall expire at the end of the Annual General Meeting of Shareholders following election, unless terminated earlier by a decision of the General Meeting of Shareholders. The General Meeting of Shareholders decides on the remuneration payable to the members of the Board of Directors. One objective of Outotec’s Board of Directors is to have both genders represented when proposing candidates for future compositions.

Matti Alahuhta | Chairman of the Board of Directors

D.Sc. (Tech.)
b. 1952, Finnish citizen

Board member and chairman since 2013 
Independent of the company and owner

Career

  • KONE Corporation, President and CEO 2005-2014 
  • Nokia Corporation, Member of the Group Executive Board 1993-2004 
  • Nokia Corporation, Executive Vice President 2004   
  • Nokia Mobile Phones, President 1998-2003 
  • Nokia Telecommunications, President 1993-1998 
  • Various positions within Nokia 1975-1982, 1984-1992
  • Rank Xerox, Sales Director 1982-84

Board memberships

  • DevCo Partners, Chairman of the Board, May 2014-
  • Outotec Oyj, Chairman of the Board 2013-
  • KONE Corporation, Member of the Board, 2003-
  • ABB Group, Member of the Board, 2014-
  • AB Volvo, Member of the Board, 2014-

Klaus Cawén | Member of the Board of Directors

LL.M Columbia University, LL.M. University of Helsinki
b. 1957, Finnish citizen

Board member since 2015, member of the Audit and Risk Committee
Independent of the company and owner

Career

  • KONE Corporation (Finland), Executive Vice President, member of the Executive Board 2002-
  • KONE Corporation (Finland), Senior Vice President & General Counsel, member of the Executive Board 1995–2001
  • KONE Corporation (Finland), Other leadership positions as General and Legal Counsel 1983–1994
  • Foreign Associate, White & Case, New York 1982–1983

Positions of trust

  • Ilmarinen Mutual Pension Insurance Company, Member of the Supervisory Board 2017-
  • Outotec Oyj, member of the Board of Directors 2015-
  • Oy Karl Fazer Ab, member of the Board 2002-
  • Toshiba Elevator and Building Systems Corporation, member of the Board 2002-
  • East Office of Finnish Industries Ltd, member of the Board 2008-

Anu Hämäläinen | Member of the Board

Anu Hämäläinen
MSc. (Econ.), born 1965, Finnish citizen


Board member since 2019, chairman of the Audit and Risk Committee
Independent of the company and owner 

Career

  • Wärtsilä Corporation, Vice President, Group Treasury and Financial Services & Support 2015-
  • Wärtsilä Corporation, Vice President, Group Control 2010-2015
  • Wärtsilä Corporation, Director, Financial Accounting 2008-2010
  • SRV Group Plc, SVP, Financial Administration 2006-2008
  • Quorum Ltd (Group), Administration Director and a senior partner 2005-2006
  • Conventum Securities Ltd, Managing Director 2004-2005
  • Conventum Ltd (Securities, Asset Management, Mutual Funds & Corporate Finance), Administration Director 2001-2004
  • Opstock Oy, Investment Banking (Securities, Asset Management & Corporate Finance), Administration Director and a partner 1999-2001
  • Metra Group (Wärtsilä Group), Sanitec Division, Controller 1998 –1999
  • Metra Finance Oy (Treasury), Administration Manager 1995 –1998
  • Wärtsilä Diesel Division, Manager, Group Financial Accounting 1994 –1995
  • Metra Corporation, Group Financial Accounting 1991 –1994

Positions of trust

  • Glaston Corporation, Member of the Board 2012-
  • Fingrid Oyj, Member of the Board 2016-

Anja Korhonen | Member of the Board of Directors

Master of Science (Economics)
b. 1953, Finnish citizen

Board member since 2013, chairman of the Audit and Risk Committee
Independent of the company and owner

Career

  • Nokia Corporation 1996–2011 

- Senior Vice President, Corporate Controller

- Vice President, Business Controller, Mobile Phones

- Senior Vice President, Business Controller, Nokia Mobile Phones 

  • Hewlett-Packard 1983–1996

- Nordic Controller and Finance & Admin Manager/Finland

- European Planning and Reporting Manager 

- Various other manager positions within finance and accounting as well as development programs

Positions of Trust

  • Outotec Oyj, Member of the Board of Directors 2013-
  • Oriola Oyj, Member of the Board of Directors 2014-
  • Huhtamäki Oyj, Member of the Board of Directors 2018-

Hanne de Mora | Member of the Board of Directors

Lic.oec, MBA
b. 1960, Swiss citizen

Board member since 2018, chairman of the Human Capital Committee 
Independent of the company and owner 

Career:

  •  a-connect (group) ag, Switzerland 2002-

- Co-founder and Chairperson

  • McKinsey & Company, Inc., Switzerland 1996-2002

- Partner                                                                                                                                

  • McKinsey & Company, Inc., Sweden and Switzerland 1989-1995

- Engagement manager

  • Procter & Gamble, Switzerland and Sweden 1986-1989

- Brand management                                                                                                       

  • Den Norske Creditbank, Luxemburg 1984

- Credit analyst 

Positions of trust:

  •  IMD Business School, Member of the Foundation Board 2012-

- Member of the Supervisory Board 2016-

  • AB Volvo, Member of the Board of Directors 2010-
  • AB Volvo, Chair of Audit Committee 2018-
  • Outotec Oyj, Member of the Board of Directors 2018- 

Patrik Nolåker | Member of the Board of Directors

BSc Business Administration & Economics, MBA
b. 1963, Swedish citizen

Board member since 2016. Member of the Human Capital Committee
Independent of the company and owner

Career

  • DYWIDAG Systems International, Group CEO 2012-2016
  • Alimak Hek Group, Group CEO 2010‐2012
  • Atlas Copco, President, Underground Rock Excavation Division 2006‐2009
  • Atlas Copco, President, Geotechnical Drilling and Exploration Division 2001‐2006
  • ABB, Regional General Manager, South East Asia 2000‐2001
  • ABB, General Manager, Medium Voltage Division 1997‐1999
  • ABB, various leadership positions 1988‐1997

Board memberships

  • Outotec Oyj, Member of the Board 2016-
  • Systemair AB, Member of the Board 2016-
  • AQ Group AB, Chairman of the Board 2018‐
  • Velcora Holding AB, Chairman of the Board 2018-

  • Saferoad Holding ASA, Chairman of the Board 2018-
  • Fibo Holding AS, Chairman of the Board 2018-

 

Ian W. Pearce | Vice Chairman of the Board

B.Sc., University of the Witwatersrand, South Africa b. 1957, Canadian citizen
b. 1957, Canadian citizen

Board member since 2015, member of the Audit and Risk Committee
Independent of the company and owner

Career

  • X2 Resources (UK), Founding Partner 2013-2017
  • Xstrata Group (Canada), Chief Executive Officer 2006-2013
  • Falconbridge (Canada and USA), Chief Operating Officer, SVP Projects & engineering 2003-2006
  • Fluor Corporation (Canada), Executive Project Director 1993-2003
  • Various engineering and project management positions in Fluor Daniel, LTA Process and Gold Fields of South Africa 1984-2003

Positions of trust

  • KoBold Metals, Director 2018-
  • Newgold (Canada), Chair of the Board of Directors 2017-
  • Outotec Oyj (Finland), Member of the Board of Directors 2015-
  • MineSense Technologies Ltd (Canada), Advisor to the Board 2013-
  • MineSense Technologies Ltd (Canada), Chair of the Board of Directors 2014-

Teija Sarajärvi | Member of the Board

Teija Sarajärvi
M.A., born 1969, Finnish citizen

Board member since 2019, member of the Human Capital Committee
Independent of the company and owner.

Career

  • Huhtamäki Oyj, Senior Vice President, Human Resources 2015-
  • OP Financial Group, Executive Vice President HR 2012–2015
  • Metso Oyj,  Senior Vice President, Human Resources & several different roles 2009–2012 
  • Nokia Oyj, Director, Human Resources, Nokia Markets & several different roles 1998–2009 
  • ABB Oyj,  several different roles 1993–1998

Positions of trust

• Sarlin Group Oy Ab, member of the board 2017-

Duties of the Board

The general objective of the Board of Directors is to direct Outotec's business and strategies in a manner that secures a significant and sustained increase in the value of the company for its shareholders. The members of the Board are expected to act as a resource and to offer their expertise and experience for the benefit of the company.

The Board of Directors acts within the remit of the powers and responsibilities provided under the Finnish Companies Act and other applicable legislation. According to the Companies Act, the Board of Directors has general authority to decide and act on all matters not reserved by law or under the provisions of the Articles of Association to other corporate governing bodies. Further, the Board is responsible for the organization of Outotec's management and operations, and it has the duty at all times to act in the best interests of the company.

The Charter of the Board of Directors further specifies the duties of the Board as a whole, the duties of individual members and the Chairman of the Board, as well as the Board’s methods of working at a practical level.

In the field of directing Outotec’s business and strategies the Board of Directors shall decide on Outotec’s basic strategies and monitor their implementation, decide on the authority frames for capital expenditure for Outotec and monitor their implementation, decide on major business acquisitions and divestments as well as any other major sales contracts and all contracts that represent an exceptional risk position taking into Outotec’s size. The Board of Directors shall further decide on any major financing arrangements by any Outotec company, or which are organized by way of public offerings, or which are otherwise out of Outotec’s normal course of business.

In the field of organizing the Outotec’s management and operations the Board of Directors appoints and dismisses the Chief Executive Officer (the “CEO”) his/her possible deputy and the other members of the executive board and decide on their terms of service, including incentive schemes, and successor planning, monitor issues relating to top management resources, decides on any significant changes in Outotec’s business organization, defines Outotec’s ethical values and modes of activity, ensures that policies outlining the principles of corporate governance and the principles of managing Outotec Oyj’s insider issues are in place, as well as ensures that other policies, as the Board of Directors may consider appropriate concerning issues within the Board of Director’s duties and authorities are in place.

In the field of preparing issues for the General Meeting of Shareholders’ resolution, the Board of Directors establishes the corporate policy for dividend distribution to the General Meeting of Shareholders, and makes proposals to the General Meeting of Shareholders.

In the field of financial control and risk management the Board of Directors discusses and approves the interim reports and annual accounts, monitors issues pertaining to significant risks and risk management activities related to Outotec’s operations, and ensures that adequate policies for risk management are in place.

Charter of the Board of Directors

 Outotec Board of Directors' principles on diversity

Evaluation of Board’s work

The Board of Directors conducts an annual evaluation of its operations and working methods. The purpose of this evaluation is to establish how the Board of Directors has executed its tasks during the year and to act as a basis for the development of the Board of Directors work.

Authorizations

The Annual General Meeting 2017 authorized the Board of Directors:

  1. To decide on the repurchase of the company's own shares as follows:
  • Maximum number of the company’s own shares to be repurchased is 18,312,149 (corresponds to approximately 10 percent of all the current shares of the company).
  • Own shares may be repurchased on the basis of this authorization only by using unrestricted equity.
  • Own shares can be repurchased at a price formed in trading on regulated market on the date of the repurchase or otherwise at a price formed on the market.
  • The Board of Directors is entitled to decide how shares are repurchased. 
  • Own shares may be repurchased otherwise than in proportion to the shares held by the shareholders (directed repurchase). 

 2. To decide on the issuance of shares and the issuance of special rights entitling to shares referred to in Chapter 10, Section 1 of the Companies Act as follows:

  • The maximum number of shares to be issued is 18,312,149 shares (corresponds to approximately 10 percent of all the current shares of the company).
  • The Board of Directors is entitled to decide on all terms of the issuance of shares and of special rights entitling to shares and it is entitled to deviate from the shareholders' pre-emptive subscription rights (directed issue).
  • This authorization applies to both the issuance of new shares and the conveyance of own shares held by the company.

The authorizations shall be in force until the closing of the next Annual General Meeting.

Committees

The practical ways of working of the Board’s Committees shall be further defined in their Charters approved by the Board of Directors. The Board of Directors may appoint additional committees from among its members and prescribe their agendas. All Board Committees shall report their work to the Board of Directors. The Board Committees shall act as preparatory bodies for the Board of Directors and shall not have an authority to take decisions on matters that fall within the Board of Director’s authority unless specifically so authorized by the Board of Directors.

Audit and Risk Committee

The Board has established an Audit and Risk Committee consisting of four Board members, who are independent of the company. The Audit and Risk Committee’s task is to monitor the reporting process of financial statements and to supervise the financial reporting process. The Audit and Risk Committee also monitors the efficiency of Outotec’s internal control mechanisms as well as risk management systems.

In addition, the Audit and Risk Committee monitors the statutory audit of the financial statements and consolidated financial statements, and evaluates the independence of the statutory auditor or audit firm, particularly the provision of related service to the company.

In addition, the committee shall prepare recommendations to the General Meeting of Shareholders concerning the election and fees of the auditor for the company. The committee’s operation procedures have been specified further in the Board Audit and Risk Committee Charter, approved by the Board of Directors.

The Board´s assembly meeting on March 14, 2019 elected Klaus Cawén, Anu Hämäläinen (Chairman), Anja Korhonen and Ian W. Pearce, all having appropriate education and experience in corporate finance as members of the Audit and Risk Committee.

Charter of the Audit and Risk Committee

Human Capital Committee

In November 2010, The Board has established a Human Capital Committee. The Human Capital Committee shall, in addition to the customary duties belonging to remuneration committees, assume a strong role in duties pertaining to human resources policies and processes. The Human Capital Committee is charged with duties relating to employee benefit plans and compensation as well as remuneration of the CEO and other executives. The Human Capital Committee will also prepare matters pertaining to the appointment of the CEO and his/her possible deputy and other executives as well as the identification of their successors.

The Human Capital Committee operation procedures have been further specified in the Board’s Human Capital Committee Charter, approved by the Board.

The Board’s assembly meeting on March 14, 2019 elected Matti Alahuhta, Patrik Nolåker, Hanne de Mora (Chairman) and Teija Sarajärvi to act as members of the Human Capital Committee. 

Charter of the Human Capital Committee