Monday, January 19, 2026
Stora Enso Oyj’s Shareholders’ Nomination Board has presented key proposals for the company’s Annual General Meeting (AGM) in 2026. The AGM is scheduled for 24 March 2026. Among the proposals, the Nomination Board suggests maintaining a Board of Directors consisting of eight members. The recommendations include the re-election of seven current Board members and the election of Jouko Karvinen as a new member. These nominations reflect the company’s ongoing commitment to strong governance and strategic continuity.
The Shareholders’ Nomination Board has proposed that the following current members of the Board be re-elected for a new term until the conclusion of the next AGM:
Additionally, Jouko Karvinen is proposed to be elected as a new member of the Board, also serving until the end of the next AGM. Kari Jordan, currently the Chair of the Board, and Reima Rytsölä have announced they will not be available for re-election.
“I would like to thank Kari Jordan for his dedicated service, especially during the past three years as Chair of the Board,” said Marcus Wallenberg, Chair of the Shareholders’ Nomination Board. Under Jordan’s leadership, Stora Enso made notable progress, including leadership renewal, financial improvement, and major growth investments. These achievements have clarified the company’s strategic direction, creating a solid foundation for future value creation.
The Shareholders’ Nomination Board has proposed Håkan Buskhe to continue as Chair of the Board and Jouko Karvinen to be elected as Vice Chair. This leadership structure is seen as an endorsement of continuity and a strong commitment to Stora Enso’s strategic goals.
“I warmly welcome Jouko Karvinen to join the Board. His nomination, alongside Håkan’s continued role as Chair, signals both stability and strong governance,” said Wallenberg.
Jouko Karvinen, born in 1957 and a Finnish citizen, brings an extensive background in leadership and industry expertise to the Board. He holds a Master of Science in Engineering (M.Sc. Eng.) and is currently Chair of the Board of Solidium, a Finnish state-owned investment company.
Karvinen’s industrial experience includes roles such as CEO of Stora Enso (2007-2014), CEO of Philips Medical Systems Division (2002-2006), and various leadership roles at ABB Group. His broad expertise also extends to board-level positions at prominent companies such as Finnair, Nokia, SKF, and Valmet. He is currently a member of the Board of the Heritage Foundation Opportunity Corporation (HFOC), a Canadian investment management company. While Karvinen is independent of Stora Enso, his position as Chair of Solidium means he is not entirely independent of the company’s major shareholders.
The Shareholders’ Nomination Board also recommends maintaining the annual remuneration for the Board members at the same level as in 2025. The proposed remuneration for Board members is as follows:
It is proposed that this remuneration be paid partly in Stora Enso shares and partly in cash. 40% of the total remuneration will be paid in Stora Enso R shares, which will be purchased on behalf of the members at market price. The remaining 60% will be paid in cash. The shares will be bought within two weeks of the publication of the interim report for Q1 2026.
In addition, the Financial and Audit Committee, People and Culture Committee, and Sustainability and Ethics Committee will continue to receive annual remuneration at the 2025 levels:
The Shareholders’ Nomination Board, in line with Nordic governance practices, ensures that the Board’s composition meets the company’s needs in terms of expertise and diversity. The Board of Directors will be selected based on their competencies, ensuring the highest possible standards of governance.
During the 2025-2026 period, the Shareholders’ Nomination Board was composed of four members: Kari Jordan (Chair of the Board), Håkan Buskhe (Vice Chair of the Board), and two representatives from the largest shareholders, Matts Rosenberg (Solidium Oy) and Marcus Wallenberg (FAM AB). The board met six times throughout the period, with all members in attendance at each meeting. Kari Jordan and Håkan Buskhe did not participate in discussions regarding remuneration proposals.
At the core of Stora Enso’s operations is a strong environmental commitment. The company believes that all fossil-based materials currently in use can be replaced by sustainable, tree-based products. As a leading provider of renewable solutions in packaging, biomaterials, and wooden construction, Stora Enso is also one of the largest private forest owners globally. The company employs approximately 19,000 people and achieved EUR 9 billion in sales in 2024.
Stora Enso remains dedicated to advancing sustainable practices while delivering long-term value for its shareholders. The upcoming 2026 AGM will be pivotal in continuing this vision, with the proposed changes to the Board marking a critical step forward in the company’s leadership and strategic direction.
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