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Composition of Tieto’s Shareholders’ Nomination Board


Tieto’s Shareholders’ Nomination Board comprises four members annually nominated by the largest shareholders and the Chairman of the Board of Directors of the company.

The largest shareholders were determined on the basis of the shareholdings registered in the Finnish and Swedish book-entry systems on 31 August 2019. The shareholders who wished to participate in the work of the Shareholders’ Nomination Board have nominated the following members:

Martin Oliw, Partner, Cevian Capital AB

Petter Söderström, Investment Director, Solidium Oy

Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company

Satu Huber, Chief Executive Officer, Elo Mutual Pension Insurance Company and

Kurt Jofs, Chairman of the Board of Directors, Tieto Corporation.

The representative of the largest shareholder shall act as Chairman unless otherwise decided by the Shareholders’ Nomination Board.

The Annual General Meeting 2010 of Tieto Corporation decided to establish a Shareholders’ Nomination Board for the time being. The Nomination Board prepares proposals for the election and remuneration of the chairman and members of the Board of Directors to the Annual General Meeting. The charter of the Nomination Board is available on the company’s website.

As part of the decision on the statutory cross-border absorption merger of Tieto Corporation and EVRY ASA, the Extraordinary General Meeting resolved on 3 September 2019 to make a temporary deviation from the charter of the Tieto Shareholders’ Nomination Board. In accordance with the resolution, in deviation from the current charter, the right to nominate members to the Shareholders’ Nomination Board preparing proposals for General Meetings held during 2020 and, if the merger has been completed before the end of 2019 also for general meetings held during 2019, in both cases from the completion of the merger onwards, shall rest with the Chairman of the Board of Directors and the four largest shareholders who are registered in the shareholders’ register on the date immediately following the registration date of the execution of the merger of EVRY into Tieto or, if not a business day, on the first business day following such registration date.

Further, as a precaution for the possibility that the execution of the merger has not taken place by 1 January 2020, the Extraordinary General Meeting resolved that the Shareholders’ Nomination Board should have a reasonable time to prepare its proposals before the Annual General Meeting 2020 instead of having time until end of January 2020 and that the Shareholders’ Nomination Board shall in such case publish its proposals as soon as practically possible.

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems.

Headquartered in Finland, Tieto has around 15 000 experts in close to 20 countries. Tieto’s turnover is approximately EUR 1.6 billion and shares listed on NASDAQ in Helsinki and Stockholm.

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