Board of Directors
The composition of the Board of Directors for the Nammo Group is determined by its Shareholders Agreement. It stipulates that the board of Nammo AS shall consist of 6 to 8 members. The board shall meet regularly, and at least 4 times a year.
Nammo’s owners, the Norwegian Ministry of Trade, Industries and Fisheries and Finnish company Patria Oyj, nominate three board members each, with the position as Chairman alternating between the two owners every year.
The board also has two employee representatives as full members. The employee representatives are elected by the employees in each country in accordance with local procedures.
President & CEO, Patria Oyj.
Nominated by Patria Oyj
Nominated by the Norwegian Ministry of Trade, Industry and Fisheries
EVP Legal and compliance, Wärtsilä.
Nominated by Patria Oyj
Nominated by the Norwegian Ministry of Trade, Industry and Fisheries.
President & CEO, Norsk Hydro ASA. Nominated by the Norwegian Ministry of Trade, Industry and Fisheries
Chief Financial Officer, Patria Oyj
Nominated by Patria Oyj
Vice President of the trade union Fellesforbundet, Nammo Raufoss AS
Employee Representative
Nammo Lapua Oy
Board Committees
HR and Compensation Committee (HRCC)
The HR and Compensation Committee (HRCC) is a committee of the Board that supports the Board in fulfilling its responsibilities with respect to Human Resources and compensation in the Nammo Group. Topics covered by the committee include:
- Succession planning
- Talent development
- Compensation policy and guidelines for Top management
- Pension issues
Risk, Audit and Compliance Committee
The Risk, Audit and Compliance Committee (RACC) is a committee of the Board that supports the Board in the fulfillment of its responsibilities by preparing with respect to financial reporting, internal controls, compliance and risk management systems, external auditing matters and business ethics compliance.