Board of Directors

Pursuant to the Limited Liability Companies Act and the Articles of Association, the Company's operations shall be governed by the Board of Directors. The Board of Directors shall contain a minimum of three and a maximum of 8 (3-8) members. The Board of Directors shall meet every month and more frequently if necessary. The Board of Directors shall work according to the approved procedure. The Board of Directors shall have two committees, the Nomination and Compensation Committee and the Audit Committee. The Board of Directors shall guide the Company's management and organisation of necessary operations. The Board of Directors shall appoint a Managing Director and define his duties. The Board of Directors shall define the Group strategy, participate in the review and approval of financial statements as well as of the annual report and interim reports. Furthermore, the Board of Directors shall make decisions on any and all business expansions, investments, divestments and incentive programs as authorised by the Annual General Meeting. The Board of Directors shall also decide on the risk management and branch strategies, confirm annual targets and approve the financial policy. Overall, the Board of Directors shall make decisions on matters that are significant for the scope and quality of the Company's operations. During 2010 there were 11 meetings and all board members attended all meetings with some exceptions. 

The Annual General Meeting, which was held on March 30th 2011, decided that the compensation for the chairman of the Board is EUR 2,400, EUR 1,800 for the vice chairman  and the compensation for other board members is EUR 1,200 per month. Additionally, the compensation for meetings of the Board and Committees is EUR 100 per meeting.

The Board of Directors: 

(1) Month and year of becoming a member of the Company's Board of Directors.

Benedict Wrede, b. 1964, was elected board member and Chairman of the Board in autumn 2011. Wrede holds a B. Sc. in Engineering. He serves as the Managing Director of Atine Group Ltd and Unioca Partners Ltd. Unioca Partners is the parent company of Tiimari Ltd holding 64.4 % of Tiimari's shares and voting rights. Wrede serves as the Chairman of the Board at Oral Hammaslääkärit Plc, Turvatiimi Plc, Barium Ltd (Sweden), Conor Venture Partners Ltd, Ineo Ltd and Atine Group Ltd (Sweden) and as a board member at KnowIT (Sweden) Ltd Endero Ltd. Wrede is independent from the Company but dependent from a significant shareholder (Unioca Partners Ltd).

Juha Mikkonen, b. 1962, was elected board member in 2008 and serves as Vice Chairman of the Board. Juha Mikkonen holds an M.Sc. in Economics. Mr. Mikkonen is the founder and Chairman of the Board at Vicus Ltd. Prior to his current post, Mr. Mikkonen served as the Managing Director of Conventum Corporate Finance Ltd. Before this he served as an Investment Manager at Kansallis-Osake-Pankki Bank and as a Stock Analyst at the Midland Montagu banking corporation. He is also a founder of Coventum Ltd and the Prospectus Ltd. investment bank. Mikkonen is independent from the Company, but he is the Chairman of the Board of a significant shareholder, Assetman Ltd. 

Hannu Ryöppönen, b. 1957, was elected member of the Board in 2009 and served as Chairman of the Board between 19 October 2009 and 29 September 2011. Hannu Ryöppönen continues as a member of the Board. Ryöppönen holds an M.Sc. in Economics and serves as a board professional. He served as CFO at Stora Enso Plc 2005-2009 and as CFO at Royal Ahold NV 2003-2005. Prior to this, Mr. Ryöppönen has served in similar positions at international group companies like Industri Kapital and IKEA. Hannu Ryöppönen serves as the Chairman of the Board at Altor Private Equity Funds and as a member of the board at Amer Sports Plc, Neste Oil Plc, Novo Nordisk A/S, Rautaruukki Plc, Korsnäs Ltd. and  Value Creation Investments Ltd. Ryöppönen is independent from the Company and its significant shareholders.

Alexander Rosenlew, b. 1971, was elected board member in 2008. Alexander Rosenlew holds an M.Sc. in Economics and an M.Sc. in Management. From April 2010 Mr. Rosenlew has served as the Managing Director of Orthex Ltd. Between 2002 – March 2010 he served as the Managing Director at Colgate-Palmolive Finland and as a member of the Executive Management Team of Colgate-Palmolive Nordic A/S. Prior to this, Rosenlew served in various executive sales and marketing positions at Nestlé in Switzerland, Finland, Sweden and Norway between 1997-2002. He currently serves as member of the board of Lagerblad Foods Ltd. and the Chairman of the Board of Rosaco Ltd. Rosenlew is independent from the Company and its significant shareholders. 

Mia Åberg, b. 1969, was elected board member in autumn 2011. Åberg holds an M. Sc. in Economics and serves as CFO at Atine Group Ltd and Virala Ltd. She also serves as the Chairman of the Board of Unioca Partners Ltd (the parent company of Tiimari Ltd holding 64.4 % of Tiimari's shares and voting rights) and as a member of the board of Turvatiimi Plc, Barium Ltd (Sweden), Atine Group Ltd (Sweden), LB Holding Ltd and Kirjais Kursgård Ltd. Åberg is independent from the Company but dependent from a significant shareholder (Unioca Partners Ltd).

Shares and options held by the board members are listed in section Insiders.