Varma’s Annual General Meeting on 15 March 2018 appointed five new members to the company’s Supervisory Board. The Annual General Meeting approved the financial statements and discharged the Board of Directors, the Supervisory Board and the President and CEO from liability.
The new members elected to the Supervisory Board are:
- Eero Broman, Chairman of the Board of Directors of Broman Group Oy
- Jukka Erlund, Executive Vice President and CFO of Kesko Corporation
- Kari Kauniskangas, President and CEO of YIT Corporation
- Pekka Kuusniemi, President and CEO of Raisio Plc
- Petri Vanhala, President of the Finnish Paper Workers’ Union
Continuing as Supervisory Board members are Kari Jordan (Chairman), Saana Siekkinen (Vice Chairman), Satu Wrede (Deputy Chairman), Juri Aaltonen, Petri Castrén, Erkki Etola, Stig Gustavson, Olavi Huhtala, Juha Häkkinen, Jukka Jäämaa, Niina Koivuniemi, Ville Kopra, Tapio Korpeinen, Timo Koskinen, Jari Latvanen, Päivi Leiwo, Olli Luukkainen, Jari Suominen, Leena Vainiomäki, Jorma Vehviläinen, Christoph Vitzthum, Anssi Vuorio and Göran Åberg.
The Annual General Meeting decided to raise the annual and meeting fees paid to the Supervisory Board. The annual fee paid to the Chairman of the Supervisory Board is EUR 8,000 (increase of EUR 3,000); the Deputy Chairman is paid EUR 6,000 (increase of 2,200) and other members are paid EUR 4,000 (increase of EUR 1,500). In addition, EUR 600 is paid per meeting (increase of EUR 300). The remunerations were raised due to the increased supervisory duties of the Supervisory Board. The last remuneration increase took place in 2006.
Members of the Supervisory Board are insured according to Section 8 of the Employees Pensions Act (TyEL), and a TyEL contribution is paid on the meeting fee.
The Annual General Meeting elected Authorised Public Accountants Antti Suominen and Jenni Smedberg as the auditors for the 2018 financial year and, as the deputy auditors, Authorised Public Accountant Robert Söderlund and Ernst & Young Oy, with Authorised Public Accountant Tuija Korpelainen as chief auditor.
Varma Mutual Pension Insurance Company is a responsible and solvent investor. The company is responsible for the statutory earnings-related pension cover of some 880,000 people in the private sector. Premiums written totalled EUR 4.9 billion in 2017 and pension payments stood at EUR 5.5 billion. Varma’s investment portfolio amounted to EUR 45.4 billion at the end of 2017.
Katri Viippola, Senior Vice-President, HR, Communications and Corporate Social Responsibility, tel. +358 400 129 500 or email@example.com