Stora Enso Oyj's AGM Highlights Key Resolutions and Changes for 2025
Stora Enso Oyj recently held its Annual General Meeting (AGM) on March 20, 2025, at the Marina Congress Center located in Helsinki, Finland. This gathering marked a significant moment in the company's calendar as it unveiled vital resolutions that will guide the organization in the upcoming year. The AGM commenced by adopting the financial statements for the year ending December 31, 2024, alongside the Remuneration Report and the updated Remuneration Policy, a procedural necessity that was passed through an advisory vote.
One of the key decisions made during the meeting was regarding the company's profits, particularly the distribution of dividends to shareholders. Stora Enso's Board of Directors had proposed a dividend distribution of EUR 0.25 per share, to be paid in two installments. The first installment of EUR 0.13 is set for payable on approximately April 2, 2025, to shareholders registered by March 24, 2025. The second installment of EUR 0.12 will follow, to be paid around October 2, 2025, to those registered by September 25, 2025. It's important to note that the Board retains the authority to adjust the dividend dates should legal or unexpected circumstances arise. Additionally, dividends for registered shares held in Sweden will be converted and paid in Swedish crowns, while those for American Depository Receipts (ADRs) will be processed in US dollars.
In line with the governance structure, the AGM approved the composition of Stora Enso's Board of Directors, which will consist of nine members. The re-election of existing board members, including Håkan Buskhe and Helena Hedblom, was enacted for another term, complemented by the introduction of new members Elena Scaltritti and Antti Vasara. Kari Jordan was elected as the Chair of the Board, while Håkan Buskhe serves as the Vice Chair, both of whom will play crucial roles in steering the company forward.
The meeting also addressed the annual remuneration for Board members, which is established as follows: EUR 221,728 for the Chair, EUR 125,186 for the Vice Chair, and EUR 85,933 for other members. To align with modern corporate governance practices, 40% of this remuneration will be distributed in Stora Enso shares, demonstrating a strong incentive for board members to foster shareholder value. Additionally, the remuneration for committee chairs and members will see increased rates as part of the adjustments.
The AGM included measures to elect PricewaterhouseCoopers Oy as the company's auditor and sustainability reporting assurer, with Panu Vänskä appointed as the principal responsible auditor for both roles. The company will adhere to the approved invoice scheme for auditing costs, ensuring transparency and accountability in its financial dealings.
Further authorization was given to the Board of Directors regarding the repurchase of the company's shares, up to a limit of 2,000,000 R shares, allowing flexibility in managing the company’s capital. These shares can be repurchased through various methods, fostering a healthier capital structure.
As part of the commitment to sustainability and corporate governance, Stora Enso resolved to amend its Articles of Association, aligning them with current legislation and clearly delineating processes during virtual meetings. Amendments also include updates to governance policies as the company prepares for lesser dependencies on obsolete titles and measures, such as eliminating references to a Deputy CEO position.
The dynamics and resolutions discussed at the AGM underscore Stora Enso's strategic approach toward growth and its dedication to sustainable practices, underscoring the crucial belief that everything currently created from fossil-based materials can be alternatively sourced from trees. With approximately 19,000 employees and sales reaching EUR 9 billion, the company continues to lead in renewable products across packaging, biomaterials, and wooden construction, solidifying its presence as one of the largest private forest owners globally. As Stora Enso focuses on innovation and sustainability, its shares remain traded on major exchanges including Nasdaq Helsinki and Nasdaq Stockholm.
This year's AGM marks not only the continuity of established governance but also an enthusiastic step into the future, ensuring Stora Enso's commitment to sustainable practices while rewarding shareholders and engaging in corporate responsibility effectively.
One of the key decisions made during the meeting was regarding the company's profits, particularly the distribution of dividends to shareholders. Stora Enso's Board of Directors had proposed a dividend distribution of EUR 0.25 per share, to be paid in two installments. The first installment of EUR 0.13 is set for payable on approximately April 2, 2025, to shareholders registered by March 24, 2025. The second installment of EUR 0.12 will follow, to be paid around October 2, 2025, to those registered by September 25, 2025. It's important to note that the Board retains the authority to adjust the dividend dates should legal or unexpected circumstances arise. Additionally, dividends for registered shares held in Sweden will be converted and paid in Swedish crowns, while those for American Depository Receipts (ADRs) will be processed in US dollars.
In line with the governance structure, the AGM approved the composition of Stora Enso's Board of Directors, which will consist of nine members. The re-election of existing board members, including Håkan Buskhe and Helena Hedblom, was enacted for another term, complemented by the introduction of new members Elena Scaltritti and Antti Vasara. Kari Jordan was elected as the Chair of the Board, while Håkan Buskhe serves as the Vice Chair, both of whom will play crucial roles in steering the company forward.
The meeting also addressed the annual remuneration for Board members, which is established as follows: EUR 221,728 for the Chair, EUR 125,186 for the Vice Chair, and EUR 85,933 for other members. To align with modern corporate governance practices, 40% of this remuneration will be distributed in Stora Enso shares, demonstrating a strong incentive for board members to foster shareholder value. Additionally, the remuneration for committee chairs and members will see increased rates as part of the adjustments.
The AGM included measures to elect PricewaterhouseCoopers Oy as the company's auditor and sustainability reporting assurer, with Panu Vänskä appointed as the principal responsible auditor for both roles. The company will adhere to the approved invoice scheme for auditing costs, ensuring transparency and accountability in its financial dealings.
Further authorization was given to the Board of Directors regarding the repurchase of the company's shares, up to a limit of 2,000,000 R shares, allowing flexibility in managing the company’s capital. These shares can be repurchased through various methods, fostering a healthier capital structure.
As part of the commitment to sustainability and corporate governance, Stora Enso resolved to amend its Articles of Association, aligning them with current legislation and clearly delineating processes during virtual meetings. Amendments also include updates to governance policies as the company prepares for lesser dependencies on obsolete titles and measures, such as eliminating references to a Deputy CEO position.
The dynamics and resolutions discussed at the AGM underscore Stora Enso's strategic approach toward growth and its dedication to sustainable practices, underscoring the crucial belief that everything currently created from fossil-based materials can be alternatively sourced from trees. With approximately 19,000 employees and sales reaching EUR 9 billion, the company continues to lead in renewable products across packaging, biomaterials, and wooden construction, solidifying its presence as one of the largest private forest owners globally. As Stora Enso focuses on innovation and sustainability, its shares remain traded on major exchanges including Nasdaq Helsinki and Nasdaq Stockholm.
This year's AGM marks not only the continuity of established governance but also an enthusiastic step into the future, ensuring Stora Enso's commitment to sustainable practices while rewarding shareholders and engaging in corporate responsibility effectively.
Topics General Business）
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