Appointment and diversity of Elisa's Board of Directors

The company adapted diversity principles for Board members at the Annual General Meeting 2016.

At Elisa diversity is seen as an essential part of corporate responsibility and as a factor in success that enables achievement of strategic targets and continuous improvement of customer intimacy.

In planning the composition of the Board of Directors, the shareholders’ nomination board takes into account the requirements of Elisa's business operations, the phase of development and the competence requirements of the Board committees. In appointing members of the Board the target is to ensure that the Board as a whole supports the development of Elisa's current and future business operations. Diversity plays a part in supporting this goal.

Diversity is considered from different perspectives. From Elisa’s point of view it is important to have Board members with diverse backgrounds in terms of competence, training, and experience of differing business operations, of varying stages of business development, and of leadership as well as diverse personal characteristics. Experience of international business environments and different cultures in addition to consideration of age and gender will support the diversity of the Board. The objective is to have at least two representatives of both genders.

A person elected as an Elisa Board member must have the competence required for the position and be able to devote a sufficient amount of time to the duties required. In forming the composition of the Board long-term needs and successor planning will be taken into account.

According to the Articles of Association, Elisa’s Board of Directors comprises a minimum of five and a maximum of nine members. The composition of the Board and the number of members shall be such that they enable the Board to perform its duties efficiently. Elisa's Shareholders' Nomination Board prepares the proposal for both the number of members of the Board of Directors and its composition. The members of the Board are appointed annually at Elisa's Annual General Meeting.

Additional information is provided in Elisa's Shareholders Nomination Board's Charter.