Stockmann plc at its AGM held on March 23, 2022 announced that in accordance with the proposal of the Shareholders' Nomination Board, Timo Karppinen and Sari Pohjonen were elected as new members of the Board of Directors. The Board members' term of office will continue until the end of the next Annual General Meeting. The Board of Directors, which convened after the Annual General Meeting, elected Roland Neuwald as its Chair, and Stefan Björkman as its Vice Chair.

The Board has assessed the independence of its members in accordance with Recommendation 10 in the Finnish Corporate Governance Code 2020. According to the assessment, all seven members of the Board are independent of the company. Six of the company's Board members are independent of significant shareholders (Timo Karppinen, Anne Kuittinen, Roland Neuwald, Sari Pohjonen, Tracy Stone and Harriet Williams).

Stefan Björkman is not considered to be independent of a significant shareholder of the company due to his position as CEO of Föreningen Konstsamfundet r.f. The Board of Directors decided to establish an Audit Committee and a Personnel and Compensation Committee among its members. Timo Karppinen was elected as Chair of the Audit Committee, and Stefan Björkman and Sari Pohjonen were elected as the other members of the committee. Roland Neuwald was elected as Chair of the Personnel and Compensation Committee and Sari Pohjonen and Harriet Williams as the other members of the committee.