Metso forms nomination board, including representatives from four largest Metso shareholders, to prepare proposals on Board of Directors members, their compensation
October 3, 2011
– Metso's Annual General Meeting decided on March 30, 2011 to establish a Nomination Board to prepare proposals on members of the Board of Directors and their remuneration for the next Annual General Meeting which is planned to be held on March 29, 2012. The representatives of the four largest shareholders registered in Metso’s shareholder register as of October 1, 2011 are elected to the Nomination Board along with the Chairman of the Board of Directors Jukka Viinanen as an expert member.
According to the shareholders register, Metso Corporation's four largest shareholders on October 1, 2011 were:
- Solidium Oy (16,226,928 shares and votes or 10.79% of share capital and votes),
- Cevian Capital II Master Fund L.P. (7,440,060 shares and votes or 4.94% of share capital and votes),
- Ilmarinen Mutual Pension Insurance Company (6,031,943 shares and votes or 4,01% of share capital and votes),
- Varma Mutual Pension Insurance Company (5,148,682 shares and votes or 3,42% of share capital and votes).
These shareholders have named the following persons as their representatives for Metso's Nomination Board:
- Kari Järvinen, Managing Director (Solidium Oy);
- Lars Förberg, Managing Partner (Cevian Capital);
- Harri Sailas, President and CEO (Ilmarinen Mutual Pension Insurance Company), and
- Matti Vuoria, Managing Director, President and CEO (Varma Mutual Pension Insurance Company).
Kari Järvinen has been elected the Chairman of the Nomination Board.
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 about 29,000 employees in more than 50 countries. www.metso.com