The Nomination Board prepares proposals regarding the composition of the Board and remuneration to its members for the Annual General Meetings.
The Nomination Board, a permanent corporate body established by the Annual General Meeting, consists of representatives appointed by the four largest shareholders. In addition, the Nomination Board includes the Chairman of the Board as an expert member. The Chairman of the Board convenes the Nomination Board, which elects its chairman from among its members.
The specific duties of the Nomination Board shall include:
- Preparing and presenting to the General Meeting a proposal on the remuneration of the members of the Board of Directors
- Preparing and presenting to the General Meeting a proposal on the number of members of the Board of Directors
- Preparing and presenting to the General Meeting a proposal on the members of the Board of Directors
- Preparing and presenting to the General Meeting a proposal on the Chairman and Vice-Chairman of the Board of Directors
- Seeking prospective successor candidates for the members of the Board of Directors. More specific information on the process and the tasks of the Nomination Board can be found in the Charter of the Nomination Board.
Composition of Metso's Nomination Board
Metso's four largest registered shareholders as of September 1, 2016, have nominated the following members to the Shareholders' Nomination Board:
- Kari Järvinen, Managing Director, Solidium Oy;
- Niko Pakalén, Vice President, Cevian Capital AB;
- Risto Murto, President and CEO, Varma Mutual Pension Insurance Company; and
- Mikko Mursula, Chief Investment Officer, Ilmarinen Mutual Pension Insurance Company.
Mikael Lilius, Chairman of Metso's Board of Directors, will serve as the Nomination Board's expert member.
The Nomination Board is responsible for preparing proposals covering the composition of the Board of Directors and remuneration of the Board members to the next Annual General Meeting.