HELSINKI, FINLAND--(Marketwire - Jan 11, 2013) - Metso Corporation's stock exchange
release on January 11, 2013 at 11.00 a.m.
The Nomination Board established by Metso's Annual General Meeting
the next Annual General Meeting, which is planned to be held on March 28,
that the number of Board of Directors members is eight.
Proposal for the composition of Board of Directors
The Nomination Board proposes to the Annual General Meeting that Jukka
Mikael von Frenckell, Christer Gardell, Ozey K. Horton, Jr., Erkki
Pehu-Lehtonen, Pia Rudengren and Eeva Sipilä would be re-elected as
members of the
Board of Directors. It is proposed to elect Jukka Viinanen as Chairman
Board of Directors and Mikael von Frenckell as Vice-Chairman of the
In addition, the Nomination Board proposes to elect Mikael Lilius as
member of the Board of Directors.
Mikael Lilius, B.Sc. (Econ), born 1949, is the Chairman of the
Directors of Wärtsilä Corporation since 2011 (Board member
since 2010), the
Chairman of the Board of Directors of Huhtamäki Oyj since 2005
1999-2004), the Chairman of the Board of Directors of AMBEA AB since 2011
member of the Board of Directors of Aker Solutions A/S since 2009 and Evli
Ltd since 2010. Mr. Lilius has been the President and CEO of Fortum
2000-2009, the President and CEO of Gambro AB in 1998-2000, the
CEO of Incentive AB in 1991-1998, the President and CEO of KF
(Nordico) in 1989-1991 and worked in various management positions in
Oyj during the period 1981- 1989 such as the President of the Packing
of Huhtamäki in 1986-1989.
Proposal on Board of Directors' remuneration
The Nomination Board proposes to the Annual General Meeting that the
the Board of Directors to be elected for a term of office ending at the
the Annual General Meeting of 2014 would be paid the following
remuneration: Chairman of the Board of Directors EUR 100,000;
the Board of Directors and the Chairman of the Audit Committee EUR
other members of the Board of Directors EUR 48,000 each. The Nomination
furthermore proposes that for each meeting of the Board of Directors
committees a fee of EUR 700 would be paid to the members of the Board
reside in the Nordic countries, a fee of EUR 1,400 would be paid to the
of the Board that reside in other European countries and a fee of EUR
would be paid to the members of the Board that reside outside
Nomination Board proposes that as a condition for the annual
members of the Board of Directors are obliged, directly based on the
Meeting's decision, to use 40% of the fixed annual remuneration for
Metso Corporation shares from the market at a price formed in public
that the purchase will be carried out within two weeks from the
the interim review for the period January 1, 2013 to March 31, 2013.
Metso's Board of Directors will include these proposals into the notice
Annual General Meeting, which will be published later.
The Nomination Board notes that a personnel representative will
an external expert in the Metso Board meetings also in the next Board
within the limitations imposed by the Finnish law. The new Board of
will invite the personnel representative as its external expert in
organizing meeting after the Annual General Meeting.
The Nomination Board
Kari Järvinen (Managing director, Solidium Oy) acted as the
Chairman of the
Nomination Board established by Metso's Annual General Meeting. The
the Nomination Board were Lars Förberg (Managing Partner, Cevian
Sailas (President and CEO, Ilmarinen Mutual Pension Insurance Company) and
Vuoria (President and CEO, Varma Mutual Pension Insurance Company). The
of Metso Corporation's Board of Directors, Jukka Viinanen, served
Nomination Board's expert member.
Metso is a global supplier of technology and services to customers in the
process industries, including mining, construction, pulp and paper, power,
oil and gas. Our 30,000 professionals based in over 50 countries deliver
sustainability and profitability to customers worldwide. Expect results.
www.metso.com , www.twitter.com/metsogroup
VP, Investor Relations
NASDAQ OMX Helsinki Ltd
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Metso Corporation via Thomson Reuters ONE