PROPOSAL ON BOARD COMPOSITION
Suominen Corporation’s Nomination Committee proposes to the Annual General Meeting of Shareholders on April 4, 2012 the number of board members to be five (5).
The committee proposes that the following current board members be re-elected as members of the Suominen Corporation’s Board of Directors of a term until the close of the Annual General Meeting 2013: Mr Jorma Eloranta, Mr Risto Anttonen, Ms Suvi Hintsanen and Mr Heikki Mairinoja. The committee proposes that Mr Hannu Kasurinen be elected as a new member of the Suominen Corporation’s Board for the same term.
Hannu Kasurinen, M.Sc. (Econ.), is Executive Vice President of Stora Enso Corporation, responsible for Wood Products Business Area and a member of Stora Enso’s Group Executive Team. Hannu Kasurinen has an extensive and international working experience in various managerial positions at Stora Enso Corporation.
Nomination Committee recommends that the new Board of Directors will elect Jorma Eloranta as Chairman of the Board and Risto Anttonen as Vice Chairman of the Board.
The current Vice Chairman of the Board Mikko Maijala has announced that he will not be available for re-election in Annual General meeting on 4 April 2012.
All candidates have given their consent to the election.
CVs of the proposed Board members are attached.
COMPENSATION OF THE BOARD OF DIRECTORS
The Nomination Committee proposes that the 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 2013 be on the same level and be confirmed to correspond the decision made in Extraordinary General Meeting 12 September.2011 as follows: Chairman of the Board annual fee EUR 50,000, Vice Chairman of the Board annual fee EUR 37,500 and other Board members annual fee EUR 28,000.
Nomination committee proposes that attendance allowance will remain at the same level so that the members of Board of Directors will receive an attendance allowance of EUR 500 per each meeting of the Board of Directors held in the home country of respective member, and an attendance allowance of EUR 1,000 per each meeting of the Board of Directors held elsewhere than in home country of respective member. Nomination committee proposes that 60% of the remuneration be paid in cash and 40% in Suominen Corporation’s shares purchased from
SUOMINEN CORPORATION’S NOMINATION COMMITTEE
Suominen’s Extraordinary General meeting held on 12 September 2011 resolved to establish a Nomination committee to prepare proposals for the following Annual General Meeting regarding the election and remuneration of the members of the Board of Directors. Under the resolution, representatives of three largest shareholders as of 15 November.2011 were elected to the Nomination Committee and the Chairman of the Board of Directors would serve as an expert member. The representatives of three largest shareholders are: Mr Jan Lång, President&CEO, Ahlstrom Corporation, Mr Timo Ritakallio, Deputy to CEO, Ilmarinen Mutual Pension Insurance Company; and Mr Risto Murto, Deputy to CEO, Varma Mutual Pension Insurance Company. Jorma Eloranta, Chairman of Suominen Corporation’s Board of Directors, serves as the Nomination Committee’s expert member.
The Committee’s aim is to see that the number of directors and the composition of the board shall make it possible for the board to discharge its duties in an efficient manner. The composition shall take into account the needs of the company’s operations and development stage of the company.
Tampere 31 January 2012
Vice President and CFO
For additional information please contact:
Mr. Arto Kiiskinen, Vice President and CFO, tel. +358 (0)10 214 300
Suominen produces high-quality nonwovens, flexible packaging and wet wipes for industry and the retail sector. www.suominen.fi