Proposals of the Shareholders’ Nomination Board of Modulight to the Annual General Meeting 2026
Modulight Corporation | Company Release | March 27, 2026 at 16:45:00 EET
The Shareholders’ Nomination Board of Modulight has submitted its proposal for the composition and remuneration of the Board of Directors to the Annual General Meeting 2026. The Annual General Meeting is planned to be held on 4 May 2026.
Number of members of the Board of Directors and its composition
The Shareholders’ Nomination Board proposes to the Annual General Meeting 2026 that the number of members of the Board of Directors shall be four (4).
The Shareholders’ Nomination Board proposes that for a term ending at the conclusion of the Annual General Meeting 2027, Anne Koutonen and Seppo Orsila be re-elected as members of the Board of Directors, and that Juhana Rauramo and Susanna Tusa be elected as new members. Biographies of the proposed new members are available in the attachment to this release. Information on the current members of the Board of Directors is available on the company’s website at https://modulight.com/board-of-directors/. In addition, the Shareholders’ Nomination Board proposes that Anne Koutonen will be elected as the Chair. All candidates have given their consent to the positions.
The Shareholders’ Nomination Board has assessed that all nominees are independent of the company and its significant shareholders, except for Seppo Orsila, who is dependent on the company and its significant shareholders. Orsila is the CEO of the company and one of the largest shareholders of the company.
Remuneration of the Board of Directors
The Shareholders’ Nomination Board proposes to the Annual General Meeting 2026 that the remuneration to be paid to the members of the Board of Directors remain unchanged. The following remuneration is proposed to be paid to the members of the Board of Directors during the next term:
- Monthly remuneration of the Chairman EUR 5,000, and
- Monthly remuneration of the Members EUR 2,500.
Furthermore, the Shareholders’ Nomination Board proposes to the Annual General Meeting 2026 that the remuneration to be paid to the members of the Board of Directors may be paid in company shares and in cash.
The travel expenses will be compensated in accordance with the company’s valid travel policy.
Composition of the Shareholders’ Nomination Board
The Shareholders’ Nomination Board, which has prepared proposals for the Annual General Meeting 2026, consists of the company’s three largest shareholders Petteri Uusimaa, Seppo Orsila, and Timo Sallinen, representing Varma Mutual Pension Insurance Company, as well as the representative of the Board of Directors, Anne Koutonen.
The proposals of the Shareholders’ Nomination Board will be included in the notice to the Annual General Meeting.