ORION CORPORATION: Recommendation by the Nomination Committee concerning Board of Directors to be el
(Thomson Reuters ONE) - ORION CORPORATION STOCK EXCHANGE RELEASE 19 JAN 2010 AT 5 PM EETRecommendation by the Nomination Committee concerning Board of Directors to beelected by the 2010 AGM of Orion CorporationThe Nomination Committee of Orion Corporation has given its recommendation tothe Board of Directors of the company for the proposal to the Annual GeneralMeeting of 2010 concerning the composition of the Board of Directors to beelected. The Nomination Committee consists of the following members: TimoMaasilta, Chairman, Kari Jussi Aho, Matti Kavetvuo, Timo Ritakallio and JukkaYlpp?he Committee recommends that the following proposal be presented to theAGM of 2010:The number of Board members would be six. Of the present members, SirpaJalkanen, Eero Karvonen, Matti Kavetvuo, Hannu Syrj?n and Jukka Ylpp?uld bere-elected and Heikki Westerlund, M.Sc. (Econ.) would be elected as a new memberfor the next term of office. Hannu Syrj?n would be elected as Chairman.Heikki Westerlund, M.Sc. (Econ.), born 1966, is the CEO of CapMan Plc, a listedcompany with operations in the Nordic countries and Russia. He has 20 years ofexperience of Private Equity investments as well as from corporate developmentassignments and board memberships. Heikki Westerlund has been CEO of CapMan Plcsince 2005. He is Senior Partner in CapMan and has worked in the company since1994 heading the Technology and Buyout teams, among others. In 1990-1994 heworked as Project Manager for Sitra. Heikki Westerlund is the Chairman of theBoard of the Finnish Venture Capital Association and a member of the Board ofDirectors of Lumene Oy. His earlier positions of trust include board membershipsin Aldata Solution, Satama Interactive and Nexor Superstore, a.o.The Nomination Committee also announces as its recommendation that the followingremunerations be paid to the Board of Directors:As an annual fee for the term of office of the Board of Directors, the Chairmanwould receiveEUR 72,000, the Vice Chairman would receive EUR 49,000 and the other memberswould receive EUR 36,000 each. As a fee for each meeting attended, the Chairmanwould receive EUR 1,200, the Vice Chairman would receive EUR 900 and the othermembers would receive EUR 600 each. In accordance with previously adoptedpractice,the travel expenses of all Board members would be paid in accordancewith the travel policy of the company. The afore-mentioned fees would also bepaid to the Chairmen and to the members of the committees established by theBoard, for each committee meeting attended.Of the annual fee, 60% would be paid in cash and 40% in Orion CorporationB-shares, which would be acquired to the members during 29 March - 1 April 2010from the stock exchange in amounts corresponding to EUR 28,800 for the Chairman,EUR 19,600 for the Vice Chairman and EUR 14,400 for each of the other members.The part of the annual fee that is to be paid in cash corresponds to theapproximate sum necessary for the payment of the income taxes on the fees andwould be paid no later than 30 April 2010. The annual fees shall encompass thefull term of office of the Board of Directors.The Nomination Committee states that it has not given its recommendation for theremunerations to the Board of Directors, but the matter will be proposed by ashareholder at the AGM of 2010.Orion CorporationTimo Lappalainen Olli HuotariPresident and CEO Senior Vice President, Corporate FunctionsContact person:Matti Kavetvuo, Chairman of the Board of Directors of Orion Corporation, phone+358 50 966 5399A photograph of Heikki Westerlund is downloadable fromhttp://www.orion.fi/westerlundPublisher:Orion CorporationCommunicationsOrionintie 1A, FI-02200 EspooHomepage: www.orion.fi
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Datum: 19.01.2010 - 10:03 Uhr
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