Suominen Corporation’s Nomination Committee, resolved by the Annual General Meeting on April 4, 2012, proposes to the Annual General Meeting to be held on March 26, 2013 that the number of board members remains unchanged at five (5). Further, the Nomination Committee proposes that Mr Jorma Eloranta, Mr Risto Anttonen, Ms Suvi Hintsanen, Mr Hannu Kasurinen and Mr Heikki Mairinoja be re-elected as members of the Suominen Corporation’s Board of Directors. Nomination Committee recommends that the new Board of Directors elects Jorma Eloranta as Chairman of the Board and Risto Anttonen as Vice Chairman of the Board.
All candidates have given their consent to the election. All candidates are independent of the company. The candidates are also independent of Suominen’s significant shareholders, with the exception of Risto Anttonen who has acted as CEO and as Deputy CEO of Ahlstrom Corporation, a significant shareholder of Suominen, within the last three years prior to the commencement of his membership in Suominen’s Board.
The Nomination Committee also submitted its proposal on the compensation of the Board of Directors. According to the proposal, the compensation remains unchanged, and the Chairman would be paid an annual fee of EUR 50,000, Vice Chairman of the Board an annual fee of EUR 37,500 and other Board members an annual fee of EUR 28,000. Further, the members of the Board will receive a fee of EUR 500 for each meeting of the Board of Directors held in the home country of respective member and a fee of EUR 1,000 per each meeting of the Board of Directors held elsewhere than in home country of respective member. The Nomination committee proposes that 60% of the remuneration be paid in cash and 40% in Suominen Corporation’s shares. Compensation for expenses is proposed to be paid in accordance with the company's valid travel policy.
The Nomination Committee was formed in November 2012. The representatives notified by the company’s three largest shareholders were elected to the Committee. The representatives are: Mr Jan Lång, President & CEO, Ahlstrom Corporation; Mr Timo Ritakallio, Deputy CEO, Ilmarinen Mutual Pension Insurance Company; and Mr Risto Murto, Executive Vice President, Varma Mutual Pension Insurance Company. Jorma Eloranta, Chairman of Suominen’s Board of Directors, acts as the Nomination Committee’s expert member. Jan Lång was elected Chairman of the Nomination Committee.
The candidate information that is relevant considering their service for the Board of Directors is presented at the company website www.suominen.fi
Helsinki, January 29, 2013
For additional information please contact:
Jan Lång, Chairman of the Nomination Committee of Suominen Corporation, tel. +358 10 888 4700
Suominen supplies its industrial and retail customers with nonwovens, wet wipes and flexible packaging for use in consumer products worldwide. Suominen is the global market leader in nonwovens for wipes. The company employs approximately 1,200 persons in Europe and in the United States. Suominen’s net sales in January-September amounted to MEUR 345.9 and operating profit was MEUR 9.1. The Suominen share (SUY1V) is listed in NASDAQ OMX Helsinki Stock Exchange. Read more at www.suominen.fi.
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