This on top of everything else. Did the nomination committee know about the pending aggravated drunk driving case when they proposed the composition of the board? The Annual General Meeting was on Tuesday, May 5th. Did Preato Hallqvist and the second-largest owner Laakkonen know what the situation was when they were approving the board? And especially, did the other board members know in their organizational meeting on May 5th when electing Karttunen as chairman that the legal proceedings were just a decision away from being finalized? If the answers to the above are yes, it certainly did not increase confidence in the management. Karttunen himself could have considered the company’s best interest and at least stepped aside from the chairman’s position on May 5th.
Each of us makes blunders in our private lives. However, when it involves investors’ money, there is unfortunately no room for such blunders. In such cases, one should be able to draw their own conclusions with integrity, and the board should have some vision as the largest owner of a company that is significant even for the security of supply.