Under the Finnish Corporate Governance Code 2025, the majority of directors shall be independent of the Company. In addition, at least two directors of this majority shall be independent of the Company’s major shareholders. The Board shall evaluate the independence of directors and report which directors it determines to be independent of the Company and which directors it determines to be independent of major shareholders.
More detailed criteria for independence are listed in Recommendation 10 of the Finnish Corporate Governance Code 2025, which can be consulted online at www.cgfinland.fi.