HELSINKI, FINLAND -- (Marketwire) -- 01/11/13 -- Metso Corporation's stock exchange
release on January 11, 2013 at 11.00 a.m.
local time
The Nomination Board established by Metso's Annual General Meeting
proposes to
the next Annual General Meeting, which is planned to be held on March 28,
2013,
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
Viinanen,
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
of the
Board of Directors and Mikael von Frenckell as Vice-Chairman of the
Board of
Directors.
In addition, the Nomination Board proposes to elect Mikael Lilius as
a new
member of the Board of Directors.
Mikael Lilius, B.Sc. (Econ), born 1949, is the Chairman of the
Board of
Directors of Wärtsilä Corporation since 2011 (Board member
since 2010), the
Chairman of the Board of Directors of Huhtamäki Oyj since 2005
(Board member
1999-2004), the Chairman of the Board of Directors of AMBEA AB since 2011
and a
member of the Board of Directors of Aker Solutions A/S since 2009 and Evli
Bank
Ltd since 2010. Mr. Lilius has been the President and CEO of Fortum
Oyj in
2000-2009, the President and CEO of Gambro AB in 1998-2000, the
President and
CEO of Incentive AB in 1991-1998, the President and CEO of KF
Industri AB
(Nordico) in 1989-1991 and worked in various management positions in
Huhtamäki
Oyj during the period 1981- 1989 such as the President of the Packing
Division
of Huhtamäki in 1986-1989.
Proposal on Board of Directors' remuneration
The Nomination Board proposes to the Annual General Meeting that the
members of
the Board of Directors to be elected for a term of office ending at the
end of
the Annual General Meeting of 2014 would be paid the following
annual
remuneration: Chairman of the Board of Directors EUR 100,000;
Vice-Chairman of
the Board of Directors and the Chairman of the Audit Committee EUR
60,000; and
other members of the Board of Directors EUR 48,000 each. The Nomination
Board
furthermore proposes that for each meeting of the Board of Directors
or its
committees a fee of EUR 700 would be paid to the members of the Board
that
reside in the Nordic countries, a fee of EUR 1,400 would be paid to the
members
of the Board that reside in other European countries and a fee of EUR
2,800
would be paid to the members of the Board that reside outside
Europe. The
Nomination Board proposes that as a condition for the annual
remuneration the
members of the Board of Directors are obliged, directly based on the
General
Meeting's decision, to use 40% of the fixed annual remuneration for
purchasing
Metso Corporation shares from the market at a price formed in public
trading and
that the purchase will be carried out within two weeks from the
publication of
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
of the
Annual General Meeting, which will be published later.
Personnel participation
The Nomination Board notes that a personnel representative will
participate as
an external expert in the Metso Board meetings also in the next Board
term
within the limitations imposed by the Finnish law. The new Board of
Directors
will invite the personnel representative as its external expert in
its
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
members of
the Nomination Board were Lars Förberg (Managing Partner, Cevian
Capital), Harri
Sailas (President and CEO, Ilmarinen Mutual Pension Insurance Company) and
Matti
Vuoria (President and CEO, Varma Mutual Pension Insurance Company). The
Chairman
of Metso Corporation's Board of Directors, Jukka Viinanen, served
as the
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,
and
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
Metso Corporation
Harri Nikunen
CFO
Juha Rouhiainen
VP, Investor Relations
Distribution:
NASDAQ OMX Helsinki Ltd
Media
www.metso.com
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Source: Metso Corporation via Thomson Reuters ONE
[HUG#1669773]
