OSLO, NORWAY: Salim Nathoo, a member of TietoEVRY Corporation’s Board of Directors, has announced that he resigns from the Board of Directors as of 20 July 2021.

After the merger of Tieto Corporation and EVRY ASA in December 2019, Apax Partners LLP, acting through Lyngen Holdco S.A.R.L., became the biggest shareholder of TietoEVRY.

Due to its notable shareholding in TietoEVRY, Apax has had two representatives in the Board of Directors since the merger was completed.

According to the governance agreement concerning the nomination of members in the Board of Directors, entered into by and between Apax, Cevian Capital Partners Limited and Solidium Oy, Apax has a right to nominate two Board members as long as Apax’s ownership in TietoEVRY exceeds 10% of all outstanding shares.

On 11 March 2021, Apax notified that its shareholding has decreased to 10.63%.

Consequently, Apax has considered to balance the composition of TietoEVRY’s Board of Directors and Salim Nathoo has decided to leave his Board member position in TietoEVRY. Apax continues to be represented in the Board of Directors of TietoEVRY Corporation by Rohan Haldea.

The Board of Directors of TietoEVRY Corporation will continue with ten AGM elected members and four board members representing personnel.