The Board of Directors

The duties of the Board of Directors are determined based on the Finnish Companies Act as well as other applicable legislation. The Board of Directors has general competence to decide on all matters that are not reserved for the general meeting of shareholders or the CEO by law or under the provisions of the Articles of Association.

The general task of the Board of Directors is to duly organize Next Games’ management and operations. In all situations, the Board of Directors must act in the best interest of Next Games. In addition, the Board of Directors’ main duties include, among other things:

  • appropriate arrangement of the control of the company’s accounts and finances;
  • appointing and dismissing the CEO and deciding on his or her remuneration and other terms of service;
  • deciding on the strategy of Next Games;
  • controlling the implementation of the strategic objectives and business plans of Next Games; and
  • deciding on strategically or financially significant investments, business acquisitions and divestments, business transactions and contingent liabilities.

The Board of Directors also confirms the company’s corporate governance principles and other guidelines concerning the arrangement of the company’s operations.

As a rule, the Board of Directors convenes approximately every six to eight weeks, however always when necessary for the proper discharge of its duties. The Board of Directors is quorate when more than half of its members are present. A decision by the Board of Directors is the opinion supported by the majority of the members present at a meeting. In the event of a tie, the chairman of the Board of Directors has the casting vote.

The Board of Directors is elected by the general meeting of shareholders. Next Games’ Board of Directors is composed of four to six ordinary members and one to six deputy members. The term of office of the members and deputy members of the Board of Directors expires at the end of the first annual general meeting of shareholders following their election. The CEO of the company cannot be Chairman of the Board.

Committees of the Board of Directors

On 23 February 2017, the Board of Directors decided to establish two permanent committees, an audit committee and a remuneration committee. The committees prepare matters to be decided in meetings of the Board of Directors. The committees have no independent decision making powers. The Board of Directors appoints the members of the committees, and it also has the power to dismiss members of the committees.

Audit Committee

The Board of Directors defines the duties of the audit committee in the operating principles of the committee confirmed by it. The duties of the audit committee consist of, among others, supervising the efficiency of the company’s accounting and financial reporting system as well as to monitor the company’s statutory audit. The committee is also charged with the supervision of matters and practices relating to corporate governance and, where necessary, propose to the Board of Directors any required measures to develop corporate governance.

The audit committee consists of at least two and at most five members. The Board of Directors appoints the members of the audit committee annually. The members of the audit committee shall be independent of the company and at least one member shall be independent of significant shareholders. The members of the audit committee shall have the qualifications necessary to perform the responsibilities of the committee, and at least one member shall have expertise specifically in accounting, bookkeeping or auditing.

Remuneration Committee

The Board of Directors defines the duties of the remuneration committee in the operating principles of the committee confirmed by it. The remuneration committee assist the Board of Directors in preparing matters relating to the remuneration of the management team and other personnel of Next Games. In addition, the remuneration committee is tasked with preparing proposals for the nomination of members of the Board of Directors and committees of the Board of Directors, as well as with evaluating the performance of the CEO and preparing the evaluation of the performance of the members of the management team.

The remuneration committee consists of at least three members. The Board of Directors appoints the members of the remuneration committee annually. The majority of the members of the remuneration committee shall be independent of the company.

Members of the Board of Directors

The members of the Board of Directors of Next Games are Petri Niemi (Chairman), Christian Seibert, Peter Levin, Jari Ovaskainen, Elina Anckar and Xenophin Lategan.

On the basis of an independence evaluation carried out by the Board of Directors, all members of the Board of Directors except Jari Ovaskainen and Xenophin Lategan are independent of the company and its significant shareholders. Xenophin Lategan is not independent of the company and Jari Ovaskainen is a major shareholder.

Petri Niemi

Chairman of the Board of Directors

Master of Science, Engineering
Born 1961
Finnish citizen
Chairman of the Board of Directors 23/2/2017
Chairman of the Remuneration Committee
Member of the Audit Committee

Significant employment history:

G2 Invest Oy, CEO, 2011–
CapMan Oyj, Head of CapManTechnology, 1999–2010

Positions of trust:

Detection Technology Oyj, Member of the Board of Directors, 2012–
Vincit Group Oyj, Chairman of the Board of Directors, 2016–
Insta Group Oy, Member of the Board of Directors, 2011–
Lounea Oy, Member of the Board of Directors, 2017–
Leaddesk Oy, Chairman of the Board of Directors, 2017–
Autori Oy, Chairman of the Board of Directors, 2018–
Clausion Oy, Chairman of the Board of Directors, 2018–
Wega Advisors Oy, Chairman of the Board of Directors, 2017–
Bilot Consulting Oy, Chairman of the Board of Directors, 2016–
B10 Group Oy, Chairman of the Board of Directors, 2015–

Nicholas Seibert

Member of the Board of Directors

Bard College
Born 1990
U.S. citizen
Member of the Board of Directors as of 25 September 2019

Significant employment history:

AMC Networks, VP – Corporate Development 2017–
GAMCO Investors, Inc., Analyst 2014–2017
Bank of America Merrill Lynch, Investment Banking– Mergers & Acquisitions 2012–2014

Peter Levin

Member of the Board of Directors

University of Southern California
Born 1970
U.S. citizen
Member of the Board of Directors as of 30 June 2014

Significant employment history:

Lionsgate, President: Interactive Ventures & Games, 2014–
Legendary Entertainment, Co-President Digital Strategy, 2012–2013
Nerdist Industries, Chief Executive Officer, 2009–2013

Positions of trust:

DEFY Media, Member of the Board of Directors, 2016–
Telltale Games, Member of the Board of Directors, 2014–
Yoshimoto Kogyo, Advisor, 2005–

Jari Ovaskainen

Member of the Board of Directors

Master of Economics, University of Turku
Born 1964
Finnish citizen
Member of the Board of Directors as of 25 April 2013
Member of the Remuneration Committee

Significant employment history:

Iobox Oy, CEO, 1999–2000

Positions of trust:

Preon Ventures Oy, Chairman of the Board of Directors, 2016–
Snowprint Studios AB, Member of the Board of Directors, 2016–
900 Seconds Oy, Chairman of the Board of Directors, 2015–
PlayRaven Oy, Member of the Board of Directors, 2014–
The Button Corporation Oy, Member of the Board of Directors, 2014–
Stylewhile Oy, Chairman of the Board of Directors, 2013–2016
Boomlagoon Oy, Member of Board of Directors, 2013–2016
Miivies Oy, Chairman of the Board of Directors, 2010–
Atacama Labs Oy, Chairman of the Board of Directors, 2005–

Elina Anckar

Member of the Board of Directors

Master of Science ( Econ. and Business Adm.), University of Turku, Turku School of Economics, Finland
Born 1968
Finnish citizen
Member of the Board of Directors as of 21 May 2019
Chairman of the Audit Committee

Significant employment history:

Marimekko, Chief Financial Officer, 2015 –
A-lehdet, Chief Financial Officer 2013-2015
Teliasonera Oy, Broadband Services, VP, Head of Business Control 2012-2013
Sodexo Oy, Chief Financial Officer 2007-2012
H&M Hennes & Mauritz Oy, Country Controller 2002-2007
Nokia, Controller 1999-2002
Cultor, Controller 1995-1999

Positions of trust:

Kalevala Koru Oy, Member of the Board of Directors 2014 –
Finnish Design Shop, Member of the Board of Directors 2013-2015

Xenophin Lategan

Member of the Board of Directors

Bachelor of Science (Computer Science and Applied Mathematics), University of Cape Town, South Africa
Born 1980
South African and British citizen
Member of the Board of Directors as of 21 May 2019

Significant employment history:

Next Games Corporation, Executive Advisor, 2018 –
Fox (Film, TV and Sports), Executive Advisor, 2018 –
Hulu.com, Executive Advisor, 2018
Style.com, Executive Advisor, 2018-2017
Entrepreneur, Investor, Executive Advisor, 2013 –
News International, Chief Technology Officer, 2010-2012
Google, Regional Head of Enterprise Solutions Engineering 2007 – 2010

Positions of trust:

Xineoh: Member of the Board of Directors
Bitcube: Chairman of the Board of Directors
TOSHI: Director and a Member of the Board of Directors
Ophin Ltd: Director