Stock Exchange release January 10, 2008 04:15:00 PM CET
Metso's Nomination Committee proposes seven members to the Board
The Nomination Committee established by Metso's Annual General Meeting, proposes to the next Annual General Meeting, which is planned to be held on April 2, 2008, that the number of Board members is seven.
The Nomination Committee proposes that from the current Board members Maija-Liisa Friman, Christer Gardell, Matti Kavetvuo, Yrjö Neuvo and Jaakko Rauramo be re-elected. Matti Kavetvuo is proposed to continue as Chairman of the Board and Jaakko Rauramo as Vice Chairman. It is also proposed that Mr. Jukka Viinanen and Mr. Arto Honkaniemi shall be elected as new members of the Metso Board.
The new proposed Board member Jukka Viinanen is presently the Chairman of the Board of Rautaruukki Corporation. Jukka Viinanen has previously been the President and CEO of Orion Corporation during the years 2000-2007, the President and CEO of Neste Corporation during the years 1997-1999 and held Executive and Board member positions in Neste during the years 1990-1999.
The new proposed Board member Arto Honkaniemi, LL.M, B.Sc. Econ., is currently Sr. Financial Counsellor at Ownership Steering Department of the Prime Minister's Office. Mr. Honkaniemi is currently a Board member of Destia Oy and Alko Inc. Arto Honkaniemi has previously been, among other things, a member of the Board of Kemira GrowHow Oyj (listed) during the years 2004-2007, as well as a member of the Board of Outokumpu Corporation during the years 1999-2006 and Partek Corporation during the years 1998-2002.
The Nomination Committee proposes the following annual fees to be paid: Chairman of the Board EUR 92,000, Vice Chairman of the Board EUR 56,000 and other Board members EUR 45,000. In addition, a fee of EUR 600 per meeting is paid to all members for the Board and Board committee meetings they attend.
Metso's Board of Directors will include these proposals into the Annual General Meeting notice, which will be published later.
The Nomination Committee notes that a personnel representative will participate as an external expert in the Metso Board meetings also in the next Board term within the limitations imposed by the Finnish law. The new Board will invite the personnel representative as its external expert in April 2008.
The Nomination Committee
The members of the Nomination Committee were Pekka Timonen (Chairman), Mikko Koivusalo, Harri Sailas, and Lars Förberg. Matti Kavetvuo, Chairman of Metso's Board of Directors, served as the Committee's expert member.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its more than 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.
Further information for the press, please contact:
Aleksanteri Lebedeff, Senior Vice President, General Counsel, Metso Corporation
Tel. +358 204 84 3240
Further information for investors, please contact:
Olli Vaartimo, Executive Vice President and CFO, Metso Corporation, tel. +358 204 84 3010
Executive Vice President and CFO
Helsinki Stock Exchange