Governance

Borad of directors

Board of Directors

The tasks and responsibilities of the Board of Directors of the Company are determined on the basis of the Finnish Companies Act as well as other applicable legislation. The Board of Directors of the Company has general authority to decide and act in all matters not reserved for other corporate governing bodies by law or under the provisions of the Company’s articles of association. The general task of the Board of Directors of the Company is to duly organize Duell’s management and operations. In all situations, the Board of Directors of the Company must act in accordance with Duell’s best interest.

According to the company’s Artciles of Association, The Board of Directors of the company has a minimum of four (4) and a maximum of eight (8) members. The term of office of members of the Board of Directors ends at the close of the annual general meeting of shareholders following their election.

The Board of Directors of the Company is quorate when more than one half of its members are present. A decision by the Board of Directors of the Company is the opinion supported by more than one half of the members present at a meeting. In the event of a tie, the Chairman has the casting vote. The Board of Directors of the Company meets according to a predetermined schedule between six and ten times in a year and, when necessary, holds additional meetings. As at the date of this Offering Circular, Duell has no committees. The Board of Directors of the Company may consider establishing committees in the future in order to function effectively taking into account the scope and nature of Duell’s operations and the operating principles of the Board of Directors.

Board members

Kim Ignatius, born 1956

Chair, 2021-

B.Sc. (Econ.)

Background add

Kim Ignatius has been the chair of the Board of Directors of the Company since November 24, 2021. Mr. Ignatius has been the Chair of the Board of Directors of the Directors’ Institute of Finland since 2019 and the Chair of the Board of Directors and the Chair of the Audit Committee of Rovio Entertainment Corporation since 2017, the Vice Chair of the Board of Directors and Chair of the Audit Committee of University Pharmacy Ltd since 2019, a member of the Board of Directors of Pinoa Foods Oy since 2020 and a member of the Board of Directors and Audit Committee of Elisa Corporation since 2019. Previously, Mr. Ignatius was a member of the Board of Directors and Chair of the Audit and Risk Committee of Fortum Corporation between 2012 and 2020, the Chair of the Board of Directors of Royal Restaurants Ltd between 2018 and 2019, and the Chief Financial Officer/Executive Vice President of Sanoma Corporation between 2008 and 2017. Mr. Ignatius holds a degree in Economics.

Sami Heikkilä, born 1971

Member, 2018-

M.Sc. (Econ.)

Background add

Sami Heikkilä has been a member of the Board of Directors of the Company since 2018. Mr. Heikkilä has been the Chair of the Boards of Directors of Myllyn Paras Oy, Myllyn Paras Finland Oy, Myllyn Paras Pakasteet Oy and Sponmill Oy since 2018, a member of the Board of Directors of Saalro Oy since 2020, Herrmans Bike Components Ltd since 2019, Nordic Lights Ltd since 2019 and Saminvest Ltd since 2004 as well as a partner at Sponsor Capital Oy since 2004. Previously, Mr. Heikkilä was a member of the Board of Directors of Espotel Oy (currently known as Etteplan Embedded Finland Oy) between 2013 and 2016, Lehtipiste Ltd between 2013 and 2016, Spondot Oy (currently known as Tradedot Ltd) between 2013 and 2016, Sponespo Oy (currently known as Etteplan Embedded Finland Oy) between 2013 and 2016 and Sponpiste Oy (currently known as Tradedot Ltd) between 2013 and 2016. Mr. Heikkilä holds a Master’s degree in Economics.

Anu Ora, born 1973

Member, 2021-

M.Sc. (Econ.)

Background add

Anu Ora has been a member of the Board of Directors of the Company since 2021. Ms. Ora has been the Chief Executive Officer of Örum Oy Ab since 2019 and a member of the Board of Directors of Leijona Catering Oy since 2021. Previously, Ms. Ora was a member of the Boards of Directors of Escamar Seafood Oy between 2017 and 2020, Ruokatieto Yhdistys Ry between 2016 and 2019 and Raskone Ltd between 2015 and 2018. Ms. Ora was the Vice President of Apetit Plc between 2015 and 2019. Ms. Ora holds a Master’s degree in Economics.

Thomas Sandvall, born 1975

Member, 2018-

Doctor of Philosophy (Economics).

Background add

Thomas Sandvall has been a member of the Board of Directors of the Company since 2018. Mr. Sandvall has been the Chair of the Board of Directors of Herrmans Bike Components Ltd since 2019 and Nordic Lights Ltd since 2019, and a member of the Board of Directors of StaffPoint Holding since 2017. Mr. Sandvall has been the Chief Executive Officer and the Chair of the Board of Directors of Vayavaya Oy since 2014 and a partner at Sponsor Capital Oy since 2014. Previously, Mr. Sandvall was a member of the Boards of Directors of Orthex Corporation between 2015 and 2021, Myllyn Paras Oy between 2018 and 2019 and Realia Holding Oy between 2015 and 2016, and a partner at HLP Corporate Finance Oy between 2001 and 2014. Mr. Sandvall holds a Doctor of Philosophy degree in Economics.

Anna Hyvönen, born 1968

Member, 2021-

Licentiate of Science (Tech.)

Background add

Hyvönen is the Current CoB at LeaseGreen and EVP North America, Nordics and Vianor at Nokian Tyres (at Nokian Tyres since 2016). Previous experience includes EVP at Ramirent (2012-2016), various leadership positions at Kone (2008-2012) and several international leadership positions at Nokia Networks (1995-2007). Hyvönen's other BoD experience includes Normet Group

Niko Mokkila, born 1979

Member, 2021-

M.Sc. (Econ.) and M.Sc. (Tech.)

Background add

Mokkila is the current Managing Director at Hartwall Capital (10/2019-). He is the previous Director at Altor Equity Partners (2007-2019) and analyst at Merrill Lynch (2005-2007). His other experience includes several current Board Memberships, including Konecranes, Terveystalo, Leasegreen and Remeo.