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Fondia's Board of Directors is responsible for the management and proper organisation of the company's operations.
The Board of Directors has the general power to decide on all matters relating to the administration of the company and other matters which, according to the law or the Articles of Association, are not the responsibility of the General Meeting or the CEO. The Board of Directors shall meet as often as necessary to discharge its duties. A quorum shall exist when more than half of the members of the Board of Directors are present. The Board of Directors is elected by the General Meeting. According to the Articles of Association, the Board of Directors may consist of a minimum of three (3) and a maximum of eight (8) ordinary members. The term of office of the members of the Board of Directors and any deputy members shall expire at the close of the first Annual General Meeting following the election.
Independence of the members of the Board of Directors
At the constitutive meeting of the Board of Directors held after the Annual General Meeting on 20 March 2025, the Board assessed the independence of its members in accordance with the Finnish Corporate Governance Code for listed companies. The Board concluded that of the members Johan Hammarén, Sami Honkonen and Katariina Lindholm are independent of the company. Sami Honkonen and Katariina Lindholm are also independent of the company's significant shareholders. Timo Lappi and Johan Hammarén are significant shareholders of the company. In addition, Timo Lappi, the company's interim CEO, is dependent of the company.