Diversity of the Board of Directors

In 2016, the Board approved a diversity policy. According to the policy, the Members of the Board of Directors are always selected based upon their expected contribution and effectiveness as Members of the Board of Directors, and capability to positively influence the long-term strategic direction and performance of the company. As a team, the Board of Directors works for the benefit of the key stakeholders, including customers, employees and shareholders. Diversity in the composition of the Board of Directors enables diversity in thinking and high-quality decision making.

When considering diversity within the Board of Directors, the main attribute is diversity in thinking including individual professional and personal experiences, influenced by diversity in nationality, age and gender. Board selections are based on a candidate’s background and competency to understand Konecranes’ current and future markets, strategy, employees and customers, including a sound understanding of financials and business dynamics. Collectively the Board of Directors should have combined experience in different markets, geographies and important topics like digitalization and corporate responsibility.

For a well-functioning Board of Directors, it is important that Board members are committed to Board work and have the possibility to devote the time needed to understand the company’s current situation, customers and strategy.
The most important nomination criteria for Board candidates is competency, knowledge, personal qualities and integrity. Both genders shall be represented on the Board of Directors and Konecranes’ aim is to strive towards a good and balanced board composition taking into account all aspects of board diversity.

At the end of 2018, out of eight Board members, two were female, representing one fourth of the total number of Board members. The Board constituted of four different nationalities and experience from three different decades of birth. The Board also consisted of different educational backgrounds from the fields of engineering, economics, social science and human resource management.