Inderes's Shareholders' Nomination and Remuneration Committee

Get well and stay strong @JHeiskanen! A completely understandable explanation, and it adds street credibility to talk about these things openly :pray:

The general meeting will be an exciting two-way battle!

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The Annual General Meeting is approaching day by day, and at this point, it’s good to remind everyone that advance voting is already open and continues until April 3, 2025, at 4:00 PM. So, if you cannot make it to the Inderes Annual General Meeting at Tavastia Club on Thursday, April 10, at 5:00 PM, but you are a shareholder, you are still entitled to cast your vote for the community member election! :grinning_face_with_smiling_eyes:

The meeting will be held in a hybrid format, and shareholders can also participate remotely. Link below. :backhand_index_pointing_down:

Registration for the Annual General Meeting and advance voting

Here is a brief introduction to the community members nominated:

Candidate 1: Teemu Hinkula (@_TeemuHinkula)

Tell us briefly about yourself and your work experience: A 42-year-old international high school coordinator living in Germany and operating in Luxembourg. Hobbies include ice hockey, wandering in the forest, and socializing.

Why do you believe you are suitable for the committee? As an active member of the community and an Inderes shareholder, I believe I have a good understanding of the company’s and community’s operations and needs. Over time, I have, for example, monitored community-related metrics and familiarized myself with the company’s operations in both Finland and Sweden.

In what direction should Inderes’ board be developed? It must be ensured that the chemistry of the renewed board works, so that it can effectively and innovatively support the operative management in strategy planning and implementation in an Inderes-like manner.

Candidate 2: Nico MÀkelÀ (@Nico_MÀkelÀ)

Tell us briefly about yourself and your work experience: I am Lieutenant Commander Nico MÀkelÀ, 36 years old, father of two primary school-aged children, Master of Military Science, and a passionate investor and fitness enthusiast. A security professional with extensive experience in leadership and international assignments.

Why do you believe you are suitable for the committee? As an active investor and participant in company events, I aim to engage more listed companies in high-quality dialogue on the forum. Additionally, I want to promote the transparency of committee work and ensure that the community has a genuine opportunity to influence Inderes’ development.

In what direction should Inderes’ board be developed? In my opinion, Inderes’ board must be open-minded, courageous, and dedicated, and represent broad professional expertise. It should serve as a trailblazer and role model for other companies.

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Hi,
I started a blog like this, where I share about the life of a community member in Inderes’ NomCom. I decided to write it on the Inderes platform so that it would also reach community members who are not on the forum.

The blog’s goal is to increase transparency and interaction with the community. Naturally, not all topics discussed in the committee can probably be talked about completely publicly. And the activity might not even be so fast-paced that there would be enough stories to tell very often.

So the texts will likely be my own general stream of thoughts about Inderes. Time will tell in which direction this develops, or if it develops at all.

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The second post of the “Life in the Committee” blog has been published. This time, I aimed to include more content related to the capital markets day, instead of just sharing feelings.

The Inderes community survey, also mentioned in the text, this time also includes a question where the community can comment on Inderes’ updated strategy. Go and have your say!

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In my latest blog post, I delve into the world of board remuneration and some of its nuances.

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On @_neuvottelija_Sami_M’s social media channel, a question arose regarding the board remuneration study, asking how CEO remunerations correlate with market value and revenue. Here are the results for 2024.
vs. market value:
image
vs. revenue:
image

Tecnotree stands out with a staggering salary of 1.8 million euros. This was approximately 9% of the total personnel budget. It’s worth noting that in 2023, the salary was 3.2 million euros.

Among companies with a small market capitalization, Wetteri’s CEO also has a high salary of 850 thousand euros, relative to others of similar size.

In some companies, a change in CEO had affected the total remuneration. At Witted, the CEO’s salary was the lowest, 85 thousand euros. Could this be due to paternity leave and the substitute’s salary not being listed separately? It wasn’t much higher in 2023 either, at 99 thousand euros.

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New blog post coming up.

This time we finally get to have a meeting! And we’ll also discuss the community’s view on Inderes’ strategy.

At the end of the text, there is also a link to a small community board survey.
I made the survey with Google Forms and not on the forum for two reasons:

  1. This way, non-forum community representatives can also answer if they wish.
  2. This way, we hopefully get respondents who have a serious opinion, as answering requires effort.
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The fifth “Life in the Committee” article has been published. In the dry text, I review the results of the board survey conducted for the community. The funniest part of the article is the AI-generated summary. “In our view
”

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Yes, the plan is to write something soon now that the press release is out. The blog has been on a bit of a break for the simple reason that I didn’t want to say too much about these things beforehand.

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@_TeemuHinkula has written the sixth part of the “Life on the Committee” article series. :smiling_face_with_sunglasses:

As the most observant followers have probably noticed, the blog has been on a break for some time now. The reason for the break is not a lack of things to write about, but rather the nature of the matters handled in the committee. During the autumn and winter, the matters on the table had to be handled strictly behind closed curtains over coffee and pastries.

Naturally, in accordance with the committee’s mandate, the matters handled have included the number of board members, the screening of new board candidates, interviews and the selection of a new member, as well as board remuneration. Next, I will try to open up some issues related to them without going into details. In addition, it is worth noting that these are my own reflections, and the intention is not to speak for others or present the official positions of the committee. These are presented in the notice of the Annual General Meeting.

Meetings were held mainly in a hybrid format. According to my calculations, participants joined the meetings from five different countries and two different continents. So, at least in these respects, Inderes has been able to demonstrate its internationalization. However, it should be said that despite his sabbatical promises, the CEO was present at all meetings, from wherever he happened to be at the time.

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