The proposal of
Proposal for the composition of the Board of Directors
Valmet's Nomination Board proposes to the next Annual General Meeting, which is planned to be held on
- Mikael Mäkinen,
Jaakko Eskola ,Pekka Kemppainen ,Monika Maurer ,Anu Hämäläinen and Per Lindberg are re-elected as Board members, -
Annareetta Lumme-Timonen and
Annika Paasikivi are elected as new Board members, and -
Mikael Mäkinen is re-elected as the Chairman of the Board and
Jaakko Eskola re-elected as the Vice-Chairman of the Board.
Eriikka Söderström, member of the Board of Directors, and
The Nomination Board notes that all proposed Board members are independent of the company. With the exception of Annareetta Lumme-Timonen, the proposed Board members are independent of the company's significant shareholders. Annareetta Lumme-Timonen is evaluated as being not independent of significant shareholders due to her role as Investment Director at Solidium. Valmet's definition of Board members' independence complies with the Finnish Corporate Governance Code.
Personal information and positions of trust of the proposed continuing individuals are available on Valmet's website (www.valmet.com).
Proposed new members for the Board of Directors
Annareetta Lumme-Timonen (born 1967) is currently Investment Director at
Proposal for the remuneration of the Board of Directors
The Nomination Board proposes to the Annual General Meeting that the annual remuneration payable to the members of the Board of Directors to be elected at the Annual General Meeting for the term until the close of the Annual General Meeting in 2025 be increased and as follows:
EUR 150,000 for the Chairman of the Board (2023: 145,000),EUR 82,500 for the Vice-Chairman of the Board (2023: 80,000),EUR 66,000 for a Board member (2023: 64,000).
Furthermore, the Nomination Board proposes that a base fee of
In addition, the Nomination Board proposes that a meeting fee in the amount of
For meetings in which a Board member participates via remote connection, including the meetings of the committees of the Board of Directors, the Nomination Board proposes that a meeting fee of
The Nomination Board proposes to the Annual General Meeting that as a condition for the annual remuneration, the members of the Board of Directors are obliged directly based on the Annual General Meeting's decision to use 40 percent of the fixed annual remuneration for purchasing
The Nomination Board
Reima Rytsölä (CEO,
Valmet's Board of Directors will include these proposals into the notice of the Annual General Meeting 2024, which is estimated to be published on
Further information, please contact:
VALMET
CFO
VP, Investor Relations
DISTRIBUTION:
Nasdaq Helsinki
Major media
www.valmet.com
Valmet is a leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. With our automation systems and flow control solutions we serve an even wider base of process industries. Our more than 19,000 professionals around the world work close to our customers and are committed to moving our customers' performance forward - every day.
The company has over 220 years of industrial history and a strong track record in continuous improvement and renewal. Valmet's net sales in 2022 were approximately
Valmet's shares are listed on the Nasdaq Helsinki and the head office is in
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