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 2009 there were 20 meetings and all board members attended all meetings with some exceptions. All members of the board of directors are independent of the company and apart from Juha Mikkonen all members are independent of the biggest shareholders. Juha Mikkonen serves as the chairman of the board at Assetman Ltd, which owns over 10% of Tiimari shares.
The Annual General Meeting, which was held on March 30th, 2010, 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:
| Name | Member since (1) | Born in | Status |
|---|
| Hannu Ryöppönen |
04/2009 |
1957 |
Chairman |
| Juha Mikkonen |
04/2008 |
1962 |
Vice chairman |
| Sven-Olof Kulldorff |
04/2009 |
1954 |
Member |
| Markku Pelkonen |
10/2009 |
1962 |
Member |
| Alexander Rosenlew |
04/2008 |
1971 |
Member |
| Sissi Silván |
03/2010 |
1958 |
Member |
(1) Month and year of becoming a member of the Company's Board of Directors.
Hannu Ryöppönen b. 1957, was elected board member in 2009. The Board elected Mr. Ryöppönen as chairman of the board in October 2009. Hannu 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.
Juha Mikkonen b. 1962, was elected board member in 2008. 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. He is the chairman of the board at Assetman Ltd.
Sven-Olof Kulldorff b. 1954, was elected board member in 2009. Sven-Olof Kulldorff holds an M.Sc. in Industrial Engineering and serves as a board professional and management consultant. Mr. Kulldorff served as Executive Vice President, Supply Chain 2004-2007, responsible for purchase and logistics operations at ICA Group and served at IKEA Group 1978-2004, his latest position being Senior Vice President, Global Sourcing/CPO, responsible for purchasing operations. Sven-Olof Kulldorff serves as the chairman of the board at BUFAB Group and Byredo Ltd. and as board member at Boxon Ltd., Rusta Ltd., IDesign A/S, Sonat Ltd., Grädde Ltd. and Fjällbrynt Ltd., Market on Line Ltd. and BergendahlGruppen Ltd. Mr. Kulldorff holds a Swedish citizenship.
Markku Pelkonen b. 1962, was elected board member in the autumun of 2009. Mr. Pelkonen currently serves as the Vice President at Picnic Yhtiöt Ltd and Managing Director at Picnic Finland Ltd, a subsidiary of Picnic Yhtiöt Ltd. Previously, Mr. Pelkonen has served in various executive sales and marketing positions at Rautakirja Ltd. During the last eight years he served as the Senior Vice President, Kiosk Operations at Rautakirja Ltd. Mr. Pelkonen serves as a board member at Tammer-Tukku Ltd. Markku Pelkonen has completed a Vocational Qualification in Business and Administration.
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 Mr. Rosenlew 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, he served in various executive sales and marketing positions at Nestlé in Switzerland, Finland, Sweden and Norway between 1997-2002. Mr. Rosenlew currently serves as member of the board of Lagerblad Foods Ltd. and the chairman of the board of Rosaco Ltd.
Sissi Silván b. 1958, was elected board member in the spring of 2010. Mrs. Silván holds an M.Sc. in Economics and an eMBA. From 2003 she has served as the Managing Director of Lollipop Management Consulting Ltd. Between 1997 - 2003 Mrs. Silván served as Country Manager for Hennes & Mauritz and between 1994 - 1997 she served as the Managing Director for Womena McCann. Prior to this, Mrs. Silván served Director, Northern Europe at Heinz Goldmann International Foundation and in various director and management roles at Mercuri International in Finland and Singapore. Mrs. Silván currently serves as a member of the board of Friitala Fashion Ltd. and Reima Ltd.