Board diversity

The company sees diversity as an essential element in attainment of its strategic objectives, responsible business and sustainable development. Also in designing the Board’s composition, diversity is considered from a number of aspects and the selection of candidates is based on a range of diversity principles, which are defined in the Board and committee charters. The ultimate decision for the proposal to the AGM regarding the Board composition is always based on qualifications and competences that each candidate bring to the Board. The director nominees shall also have the possibility to devote a sufficient amount of time for the Board work.


The Board of Directors’ Nomination and Governance Committee prepares the proposal for the composition of the Board to the AGM. The committee comprises three Board members who are independent of the company and its significant shareholders. First and foremost, the committee’s preparatory work aims at ensuring that the Board works well as a whole. This, in turn, can be achieved if the Board comprises a sufficient number of sufficiently diverse members with mutually complementing experience and versatile expertise, and thereby qualifications to discharge Board duties efficiently.

When preparing the proposal, the committee reviews the size and composition of the Board and the company’s current and evolving needs in terms of director competences. When reviewing the composition of the Board, the committee considers, among others, whether the Board is sufficiently diverse in terms of professional and educational backgrounds, gender and age, and whether it represents an appropriate balance of sound judgment, skills and experience to be able to address the needs of the company’s business operations and strategic agenda. A more comprehensive description of the committee’s director nomination process is included in the section Nomination and Governance Committee.

Currently, UPM's Board of Directors comprises 10 members. All members have a university degree and two of them a doctor’s degree. The directors’ degrees are in five different areas of study with a majority of the degrees in finance and economics. All directors have international professional experience in various types of positions and they are or have been executives or members of the Board of Directors in both listed and unlisted companies. The cultural background of the Board is also diverse: the members represent four different nationalities and speak five different languages as their native language. Women count for 30% of the Board. When it comes to age, the directors represent different ages evenly between 40 and 65 years of age. Likewise, the directors’ length of service is evenly spread: 50% of the directors have served in UPM’s Board for more than five and the other half less than five years.

UPM Board members' personal details and information on their career histories and key positions of trust are available under section Board composition.