FORTUM CORPORATION STOCK EXCHANGE RELEASE 22 January 2016 at 14.00 EET
Fortum's Shareholders' Nomination Board has submitted to Fortum's Board of Directors its proposals to the Annual General Meeting 2016. The Shareholders' Nomination Board will propose to the Annual General Meeting that the Board consists of eight (8) members and that the following persons be elected to the Board for a term ending at the end of the Annual General Meeting 2017:
To be re-elected:
Ms Sari Baldauf as Chairman
Mr Kim Ignatius as Deputy Chairman
Ms Minoo Akhtarzand as member
Mr Heinz-Werner Binzel as member
Ms Eva Hamilton as member
Mr Tapio Kuula as member and
Mr Jyrki Talvitie as member
To be elected:
Mr Veli-Matti Reinikkala as member
Fees to Board members:
The Shareholders' Nomination Board will propose that the fees paid for the upcoming term remain unchanged and are as follows:
Chairman: EUR 75,000/year
Deputy Chairman: EUR 57,000/year
Members: EUR 40,000/year
The Chairman of the Audit and Risk Committee, if he/she is not simultaneously acting as Chairman or Deputy Chairman of the Board: EUR 57,000/year.
For each Board and Board Committee meeting a fee of EUR 600 will be proposed. For Board members living outside Finland in Europe, the proposed fee for each meeting will be doubled and for Board members living outside Europe, the proposed fee for each meeting will be tripled. For Board members living in Finland, the proposed fee for each Board and Board Committee meeting will be doubled for meetings held outside Finland and tripled for meetings held outside Europe. For Board and Committee meetings held as a telephone conference, the proposed fee will be paid as single to all members. No fee will be paid for decisions made without a separate meeting.
The Chairman of the Shareholders' Nomination Board is Eero Heliövaara, Director General of the Prime Minister's Office's Ownership Steering Department, and the members are Reima Rytsölä, Executive Vice-President at Varma Mutual Pension Insurance Company, Liisa Hyssälä, Director General of Finnish Social Insurance Institution (Kela) and Sari Baldauf, Chairman of Fortum Corporation's Board of Directors. Ms Sari Baldauf did not participate in the decision-making regarding the proposal for the Chairman of the Board or fees to the Board members.
Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications
Further information:
Eero Heliövaara, Chairman of the Shareholders' Nomination Board, tel. +358 295 160 150
Distribution:
Nasdaq Helsinki
Key media
www.fortum.com
Fortum
Fortum’s purpose is to create energy that improves life for present and future generations. Fortum’s expertise is in CO2-free and efficient electricity and heat production. The company also offers energy-related products and expert services to private and industrial customers and energy producers. Fortum’s main areas of operation are the Nordic and the Baltic countries, Russia and Poland. In 2014, the annual sales (excluding the divested electricity distribution business) totalled EUR 4.1 billion, and comparable operating profit was EUR 1.1 billion. The company employs approximately 8,000 people. Fortum’s share is listed on Nasdaq Helsinki. www.fortum.com
Biographical details of the new proposed Board member:
VELI-MATTI REINIKKALA
Born 1957
Nationality: Finnish
Education:
Executive Master of Business Administration, Helsinki School of Economics, Finland
Main occupation:
Non-executive Director
Independent of the company and its significant shareholders.
Primary work experience:
ABB
President Europe, Member of ABB Group Executive Committee, Switzerland 2015
President of Process Automation division, Member of the Group Executive Committee of ABB Ltd, Switzerland 2006–2014
Head of Business Area Process Automation – ABB Ltd, Switzerland 2005
Local Division Manager China for Automation Technologies Division – ABB (China) Ltd., Member of Global Automation Technologies Division Management Team 2003–2004
Business Area Manager for Drives & Power Electronics – ABB Automation Management Ltd., Switzerland 2002–2003
Product Responsible Unit Manager for LV Drives 1999–2002
Business Area Unit Manager for Drives, Finland 1996–1999
CFO of ABB Industry Oy, Finland 1994–1996
Business Controller of Drives business, Finland 1993–1994
Tampella Group
Managing Director Pac Asia Ltd. in London, U.K. / Vancouver, Canada 1992–1993
CFO and EVP of Tampella Packaging Division, Finland 1989–1991
UPM Kymmene (then Rauma-Repola, Schaumann, Kymmene)
Various positions in Business Control in Division and local unit levels 1979–1989
Key positions of trust:
UPM-Kymmene Corporation, Finland, Member of the Board
Quant AB, Sweden, Member of the Board
Internal ABB Boards until end of 2015:
Chairman of ABB AB, Sweden, Chairman of ABB AG, Switzerland, Chairman of ABB, France, Chairman of ABB Oyj, Finland, Chairman of ABB AS, Norway
Member of the Board ABB SA, Spain, Member of the Board ABB BV, Netherland
Shareholdings:
Veli-Matti Reinikkala does not own Fortum Corporation’s shares