Valmet Oyj’s reserve change loose on December 3, 2024 at 1:00 p.m. EET
ESPOO, Finland, Dec. 3, 2024 /PRNewswire/ — Proposal for the composition of the Board of Administrators
Valmet Oyj’s (“Valmet”) shareholders’ Nomination Board proposes to the then Annual Common Assembly, which is deliberate to be hung on March 26, 2025, that the choice of participants of the Board of Administrators for the time period expiring on the similar of the Annual Common Assembly 2026 be seven (7), and that
- Anu Hämäläinen, Pekka Kemppainen, Consistent with Lindberg, Annareetta Lumme-Timonen, Monika Maurer and Annika Paasikivi are re-elected as Board participants, and
- Pekka Vauramo be elected because the unutilized Chair of the Board and Consistent with Lindberg be elected because the unutilized Vice-Chair of the Board.
Mikael Mäkinen, Chair of the Board of Administrators, and Jaakko Eskola, Vice-Chair of the Board of Administrators, have knowledgeable Valmet’s Nomination Board that they are going to now not be to be had within the election of the Board of Administrators within the then Annual Common Assembly. Mikael Mäkinen has served as a member and Chair of Valmet’s Board of Administrators since 2019. Jaakko Eskola has served as a member and Vice-Chair of Valmet’s Board of Administrators since 2022.
Will have to any member of the applicants proposed by means of the Nomination Board for any reason why now not be to be had for election to the Board of Administrators, the proposed choice of Board participants will be reduced accordingly, and the residue to be had applicants are proposed to be elected according to the proposal by means of the Nomination Board.
The Nomination Board recommends that with reference to the choice process for Board participants, the shareholders whisk a place at the proposal as a complete on the Annual Common Assembly.
On the year of the answer of the Nomination Board it’s assessed that each one proposed Board participants are sovereign of the corporate. Aside from Annareetta Lumme-Timonen and Annika Paasikivi the proposed Board participants are sovereign of the corporate’s vital shareholders. Annareetta Lumme-Timonen is evaluated as being now not sovereign of vital shareholders because of her position as Funding Director at Solidium Oy and Annika Paasikivi is evaluated as being now not sovereign of vital shareholders because of her position as President and CEO at Oras Make investments Ltd.
The Nomination Board notes that the Board elected by means of the Annual Common Assembly will one at a time assessment the liberty of the Board participants. Valmet complies with the Finnish Company Governance Code in defining the liberty of the Board participants.
The proposed proceeding participants of the Board of Administrators are introduced on Valmet’s web page (www.valmet.com).
Proposed unutilized member of the Board of Administrators
Pekka Vauramo (b. 1957) has labored because the President and CEO of Metso Company and President and CEO of Metso Outotec Company in 2018–2024. He was once the President and CEO of Finnair Company in 2013-2018. In 2007–2013 he labored in different control positions at Cargotec Company. Prior to that, he held a number of control positions at Sandvik AB between 1995-2007 and at Tamrock Company between 1985-1995. He holds the level of M. Sc. (Tech.).
Proposal for the remuneration of the Board of Administrators
The Nomination Board proposes to the Annual Common Assembly that the once a year remuneration payable to the participants of the Board of Administrators to be elected on the Annual Common Assembly for the time period till the similar of the Annual Common Assembly in 2026 be higher and as follows:
- EUR 155,000 for the Chair of the Board (2024: EUR 150,000),
- EUR 85,500 for the Vice-Chair of the Board (2024: EUR 82,500), and
- EUR 68,000 for a Board member (2024: EUR 66,000).
Moreover, the Nomination Board proposes {that a} bottom charge of EUR 7,300 (2024: EUR 7,300) will be paid for each and every member of the Audit Committee, EUR 16,700 (2024: EUR 16,700) for the Chair of the Audit Committee, EUR 4,200 (2024: EUR 4,200) for each and every member of the Remuneration and HR Committee, and EUR 8,500 (2024: EUR 8,500) for the Chair of the Remuneration and HR Committee.
As well as, the Nomination Board proposes {that a} assembly charge within the quantity of EUR 750 (2024: EUR 750) will be paid for the ones participants whose playground of place of dwelling is in Nordic nations, EUR 1,500 (2024: EUR 1,500) for the ones participants whose playground of place of dwelling is in other places in Europe and EUR 3,000 (2024: EUR 3,000) for the ones participants whose playground of place of dwelling is outdoor of Europe for the Board conferences attended, together with the conferences of the committees of the Board of Administrators.
For conferences wherein a Board member participates by means of far flung connection, together with the conferences of the committees of the Board of Administrators, the Nomination Board proposes {that a} assembly charge of EUR 750 will be paid to Board participants. Moreover, the Nomination Board proposes {that a} assembly charge of EUR 1,500 will be paid to Board participants for a Board advance assembly.
The Nomination Board proposes to the Annual Common Assembly that as a situation for the once a year remuneration, the participants of the Board of Administrators are obliged at once in response to the Annual Common Assembly’s answer to significance 40 % of the mounted annual remuneration for getting Valmet Oyj stocks at a value shaped on a regulated marketplace at the authentic checklist of Nasdaq Helsinki Ltd reserve change, and that the acquisition will likely be performed inside of two weeks from the newsletter of the Intervening time Evaluate for the duration January 1 to March 31, 2025.
The Nomination Board
Jari Paasikivi (Chair of the Board of Administrators, Oras Make investments Oy) acted because the Chair of the Nomination Board. The alternative participants of the Nomination Board had been Reima Rytsölä (CEO, Solidium Oy), Markus Aho (Important Funding Officer, Varma Mutual Pension Insurance coverage Corporate) and Mikko Mursula (Deputy CEO, Investments, Ilmarinen Mutual Pension Insurance coverage Corporate). Mikael Mäkinen, Chair of Valmet’s Board of Administrators, served because the Nomination Board’s professional member.
Valmet’s Board of Administrators will come with those proposals into the attention of the Annual Common Assembly 2025, which is estimated to be revealed on February 13, 2025.
Additional data, please touch:
Rasmus Oksala, Common Suggest, Valmet, tel. +358 50 3173 830
VALMET
Katri Hokkanen
CFO
Pekka Rouhiainen
VP, Investor Family members
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.valmet.com
Valmet has a world buyer bottom throughout diverse procedure industries. We’re a well-known international developer and provider of procedure applied sciences, automation and products and services for the pulp, paper and effort industries, and with our automation and current regulate answers we lend a fair wider bottom of procedure industries. Our greater than 19,000 pros world wide paintings similar to our shoppers and are dedicated to shifting our shoppers’ efficiency ahead – each and every hour.
The corporate has over 220 years of business historical past and a powerful observe report in steady growth and renewal. Valmet’s web gross sales in 2023 had been roughly EUR 5.5 billion.
Valmet’s stocks are indexed at the Nasdaq Helsinki and the pinnacle workplace is in Espoo, Finland.
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