Shareholders' Nomination Board Proposes Changes for Stora Enso's AGM 2026

Proposed Changes at Stora Enso Oyj's AGM

On January 16, 2026, Stora Enso Oyj's Shareholders' Nomination Board announced its proposals regarding the Board of Directors for the upcoming Annual General Meeting (AGM) set for March 24, 2026. Established during a previous AGM, the Nomination Board has the critical role of ensuring an effective governance structure and the strategic growth of the company.

Composition of the Board of Directors

The Nomination Board recommends that Stora Enso's Board of Directors comprise eight members, including the re-election of several current members. Among those slated for re-election are Håkan Buskhe, Helena Hedblom, Astrid Hermann, Christiane Kuehne, Richard Nilsson, Elena Scaltritti, and Antti Vasara. Importantly, Jouko Karvinen is proposed as a new addition to the board, reflecting a commitment to maintaining continuity with strategic objectives.

Current Chair Kari Jordan and board member Reima Rytsölä have opted not to seek re-election. Their decision highlights the transition phase Stora Enso is undergoing, as it strives to adapt and thrive in an evolving market.

Chair of the Nomination Board, Marcus Wallenberg, expressed gratitude for Kari's leadership and contributions, particularly during his tenure as Chair for the last three years. Under his stewardship, the company achieved significant turnaround milestones and financial improvements, marking a pivotal era for Stora Enso.

Key Leadership Positions

The Nomination Board has recommended that Håkan Buskhe be appointed as the new Chair and Jouko Karvinen as the Vice Chair of the Board. This proposed leadership structure seems well-aligned with the company’s ongoing focus on shareholder engagement and strategic direction.

Experience of New Members

Jouko Karvinen, born in 1957 and a Finnish citizen with a Master of Science in Engineering, comes with extensive industrial leadership experience, previously serving as the CEO of Stora Enso from 2007 to 2014. His vast expertise, including roles with Philips Medical Systems and ABB Group, elevates the board’s potential for strategic oversight and resource allocation. Although he holds leadership roles in various organizations, he remains independent of Stora Enso itself, ensuring unbiased decision-making.

Remuneration Proposals

Alongside structural changes, the Nomination Board proposes maintaining the existing remuneration levels for board members throughout 2026. Specifically, the proposed annual compensation includes:

- Chair: EUR 221,728
- Vice Chair: EUR 125,186
- Members: EUR 85,933

This remuneration is to be partially paid in shares, reinforcing the board members' alignment with shareholder interests.

Committee Remunerations

Additionally, there will be consistent annual remuneration for members serving on the Financial and Audit Committee, People and Culture Committee, and the Sustainability and Ethics Committee. The remuneration for these positions is also pitched at the 2025 levels, ensuring financial stability and predictability in governance.

Conclusion

The Nomination Board is staunchly committed to ensuring that the Board of Directors collectively possesses the expertise needed to navigate a myriad of corporate challenges while also adhering to the guidelines set forth by the Finnish Corporate Governance Code. With the proposed changes and new appointments, Stora Enso is positioning itself to continue its legacy as a leader in renewable materials and a driving force behind sustainable progress in the industry.

Furthermore, with nearly 19,000 employees and projected sales of EUR 9 billion in 2024, Stora Enso remains a formidable player in the packaging, biomaterials, and construction sectors. Currently listed on major stock exchanges, including Nasdaq Helsinki and Stockholm, its commitment to environmental stewardship and corporate governance will play a vital role in shaping the future of the enterprise.