Metso Corporation's company release on January 27, 2010 at 4:15 p.m.
The Nomination Committee established by Metso's Annual General Meeting proposes
to the next Annual General Meeting, which is planned to be held on March
30, 2010, that the number of Board members is seven.
Proposal on Board composition
The Nomination Committee proposes that from the current Board members
Maija-Liisa Friman, Christer Gardell, Yrjö Neuvo, Pia Rudengren and Jukka
Viinanen be re-elected. Jukka Viinanen is proposed to be elected as Chairman of
the Board and Maija-Liisa Friman as Vice Chairman. The Nomination Committee also
proposes that Mr. Erkki Pehu-Lehtonen and Mr. Mikael von Frenckell shall be
elected as the new members of Metso Board.
Erkki Pehu-Lehtonen, M.Sc. (Mechanical Engineering), b. 1950, is the Chairman of
the Board of Directors of Raute Corporation and a Board member of Tekla
Corporation. Erkki Pehu-Lehtonen worked as Pöyry Plc's President and CEO from
1999 until May 2008 and is currently a Senior Advicer to the Board of Pöyry Plc.
He joined the Pöyry Group in 1994 and worked as Executive Vice President of
Jaakko Pöyry Oy, a subsidiary of Jaakko Pöyry Plc, in 1994−1996 and as the
President of the company in 1996−1999. Before Jaakko Pöyry Group he held top
management positions, among others, at Neles-Jamesbury Inc and Valmet Paper
Mikael von Frenckell, M.Sc. (Soc.), Counsellor of commerce, b. 1947, is the
Chairman of the Board of Directors and the founding partner of Sponsor Capital
Oy, the Vice Chairman of the Board of Directors of Neste Oil Corporation and a
Board member of Tamro Corporation. He is a Board member of the Tamfelt
Corporation since 1979, the Vice Chairman of the Board 1990−1995 and the
Chairman of the Board 1995−2009 as well as a Board member of Waldermar von
Frenckell's Foundation since 1975 and the Chairman of the Board of the
foundation since 1990. The years 1990−1995 Mikael von Frenckell has held various
positions in the Union Band of Finland ultimately serving as the Executive Vice
President and the member of the Executive Committee in 1993−1995.
Proposal on Board remuneration
The Nomination Committee proposes that the annual remuneration payable to the
members of the Board to be elected at the Annual General Meeting for the term
until the close of the Annual General Meeting in 2011 be equal to the
remuneration payable to for the term until the close of the Annual General
Meeting in 2010: EUR 92,000 for the Chairman, EUR 56,000 for the Vice Chairman,
and EUR 45,000 for each member. Additional compensation of EUR 600 shall be paid
for the meetings attended including the meetings of the committees of the Board
of Directors. The Nomination Committee proposes that 40% of the fixed annual
remuneration be paid in Metso shares purchased from the market. The shares will
be purchased directly on behalf of the members of the Board within two weeks
from the release of the Interim Review January 1 −March 31, 2010 of Metso
Metso's Board of Directors will include these proposals into the notice of the
Annual General Meeting, which will be published later.
The Nomination Committee 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 will invite the
personnel representative as its external expert in its organizing meeting after
the Annual General Meeting.
The Nomination Committee
The members of the Nomination Committee were Kari Järvinen (Chairman), Lars
Förberg, Matti Vuoria and Harri Sailas. Jukka Viinanen and Jaakko Rauramo were
the Committee's expert members.
Metso is a global supplier of sustainable technology and services for mining,
construction, power generation, automation, recycling and the pulp and paper
industries. We have about 26,500 employees in more than 50 countries.
Further information for the press, please contact:
Aleksanteri Lebedeff, Senior Vice President, General Counsel, Metso Corporation,
tel. +358 20 484 3240
Further information for investors, please contact:
Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel.
+358 20 484 3253
Executive Vice President and CFO
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