Stock Exchange release February 2, 2009 08:45:00 AM CET
Metso's Nomination Committee proposes seven members to the Board
Metso Corporation's Company release on February 2, 2009 at 9.45 a.m.
The Nomination Committee established by Metso's Annual General Meeting proposes to the next Annual General Meeting, which is planned to be held on March 31, 2009, that the number of Board members is seven.
The Nomination Committee proposes that from the current Board members Maija-Liisa Friman, Christer Gardell, Arto Honkaniemi, Yrjö Neuvo, Jaakko Rauramo and Jukka Viinanen be re-elected. Jukka Viinanen is proposed to be elected as Chairman of the Board and Jaakko Rauramo as Vice Chairman. It is also proposed that Ms. Pia Rudengren shall be elected as a new member of the Metso Board. Matti Kavetvuo, present Chairman of the Board, has informed that he is not available for re-election.
The new proposed Board member Pia Rudengren is a Board professional and presently the Chairman of the Board of Q-MED AB, a publicly listed Swedish biotechnology and medical device company, and the Board member of Tikkurila Oy, Biophausia AB, Varyag Resources AB, WeMind Digital Psykologi AB, Duni AB and Social Initiative AB. Pia Rudengren holds M.Sc. degree in Business Administration and Economics from the Stockholm School of Economics (1990). From 1990 on Pia Rudengren has held a variety of positions at Investor AB, ultimately serving as Chief Financial Officer and member of the management group during the period from 1998 to 2001. From 2001 to 2005 she was Executive Vice President of W Capital Management AB.
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. The travel expenses and daily allowances will be paid according to company's travelling policy. The annual fees remain unchanged compared to 2008.
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 its organizing meeting after the Annual General Meeting.
The Nomination Committee
The members of the Nomination Committee were Pekka Timonen (Chairman), Lars Förberg, Mikko Koivusalo, Harri Sailas and Matti Kavetvuo as the Committee's expert member.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have over 29,000 employees in more than 50 countries. www.metso.com
Further information for the press, please contact:
Aleksanteri Lebedeff, Senior Vice President, General Counsel, Metso Corporation, tel. +358 20 484 3240
Further information for investors, please contact:
Johanna Sintonen, Vice President, Investor Relations, Metso Corporation, tel. +358 20 484 3253
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