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 annually the performance, effectiveness, composition and successional needs of the Board as a whole and 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 mix of relevant knowledge and experience as well as independence of judgment and diversity of perspectives to be able to address the needs of the company’s business operations and strategic agenda.
A more comprehensive description of the director nomination process is included in the Board's Diversity Policy. The graphs below illustrate the Board's diversity in respect of education, nationality, age, gender and tenure.