Metso's Nomination Committee proposes seven members to the Board
(Thomson Reuters ONE) - Metso Corporation's company release on January 27, 2010 at 4:15 p.m.The Nomination Committee established by Metso's Annual General Meeting proposesto the next Annual General Meeting, which is planned to be held on March30, 2010, that the number of Board members is seven.Proposal on Board compositionThe Nomination Committee proposes that from the current Board membersMaija-Liisa Friman, Christer Gardell, Yrj?uvo, Pia Rudengren and JukkaViinanen be re-elected. Jukka Viinanen is proposed to be elected as Chairman ofthe Board and Maija-Liisa Friman as Vice Chairman. The Nomination Committee alsoproposes that Mr. Erkki Pehu-Lehtonen and Mr. Mikael von Frenckell shall beelected as the new members of Metso Board.Erkki Pehu-Lehtonen, M.Sc. (Mechanical Engineering), b. 1950, is the Chairman ofthe Board of Directors of Raute Corporation and a Board member of TeklaCorporation. Erkki Pehu-Lehtonen worked as P? Plc's President and CEO from1999 until May 2008 and is currently a Senior Advicer to the Board of P? Plc.He joined the P? Group in 1994 and worked as Executive Vice President ofJaakko P? Oy, a subsidiary of Jaakko P? Plc, in 1994?1996 and as thePresident of the company in 1996?1999. Before Jaakko P? Group he held topmanagement positions, among others, at Neles-Jamesbury Inc and Valmet PaperMachinery Inc.Mikael von Frenckell, M.Sc. (Soc.), Counsellor of commerce, b. 1947, is theChairman of the Board of Directors and the founding partner of Sponsor CapitalOy, the Vice Chairman of the Board of Directors of Neste Oil Corporation and aBoard member of Tamro Corporation. He is a Board member of the TamfeltCorporation since 1979, the Vice Chairman of the Board 1990?1995 and theChairman of the Board 1995?2009 as well as a Board member of Waldermar vonFrenckell's Foundation since 1975 and the Chairman of the Board of thefoundation since 1990. The years 1990?1995 Mikael von Frenckell has held variouspositions in the Union Band of Finland ultimately serving as the Executive VicePresident and the member of the Executive Committee in 1993?1995.Proposal on Board remunerationThe Nomination Committee proposes that the annual remuneration payable to themembers of the Board to be elected at the Annual General Meeting for the termuntil the close of the Annual General Meeting in 2011 be equal to theremuneration payable to for the term until the close of the Annual GeneralMeeting 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 paidfor the meetings attended including the meetings of the committees of the Boardof Directors. The Nomination Committee proposes that 40% of the fixed annualremuneration be paid in Metso shares purchased from the market. The shares willbe purchased directly on behalf of the members of the Board within two weeksfrom the release of the Interim Review January 1 ?March 31, 2010 of MetsoCorporation.Metso's Board of Directors will include these proposals into the notice of theAnnual General Meeting, which will be published later.Personnel participationThe Nomination Committee notes that a personnel representative will participateas an external expert in the Metso Board meetings also in the next Board termwithin the limitations imposed by the Finnish law. The new Board will invite thepersonnel representative as its external expert in its organizing meeting afterthe Annual General Meeting.The Nomination CommitteeThe members of the Nomination Committee were Kari J?inen (Chairman), LarsF?rg, Matti Vuoria and Harri Sailas. Jukka Viinanen and Jaakko Rauramo werethe 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 paperindustries. We have about 26,500 employees in more than 50 countries.www.metso.comFurther information for the press, please contact:Aleksanteri Lebedeff, Senior Vice President, General Counsel, Metso Corporation,tel. +358 20 484 3240Further information for investors, please contact:Johanna Henttonen, Vice President, Investor Relations, Metso Corporation, tel.+358 20 484 3253Metso CorporationOlli VaartimoExecutive Vice President and CFOKati RenvallVice President, Group CommunicationsDistribution:NASDAQ OMX Helsinki LtdMediawww.metso.com[HUG#1377835]
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Datum: 27.01.2010 - 09:17 Uhr
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