Componenta established nomination committee

The Board of Directors of Componenta has resolved to establish a nomination ommittee for preparation of matters pertaining to nomination and remuneration of directors. Members of the nomination committee represent the major shareholders of the company. The following members were elected to the Nomination Committee: 

Harri Suutari, Chairman of the Board of Directors, Heikki Lehtonen, Juuso Puolanne from Suomen Teollisuussijoitus Oy (Finnish Industry Investment Ltd) and Reima Rytsölä from Keskinäinen työeläkeyhtiö Varma (Varma Mutual Pension Insurance Company). The committee members will elect chairman from amongst themselves. 

The Board’s view is that a model in which representatives of the largest shareholders are nominated to members of the Nomination Committee will best serve the interests of the shareholders. Heikki Lehtonen, member of the Nomination Committee and the largest shareholder of the company through the companies which he controls, is also President and CEO of the Componenta Group, and so he is not independent of the company. Other members of the Nomination Committee are independent of the company. 

The Nomination Committee will prepare a recommendation to the Board of Directors for the proposal for the composition of the Board of Directors to be presented to the general meeting. The term of the Nomination Committee elected now will continue until the next general meeting.

The main duties of the Nomination Committee are presented on Componenta’s website, for Investors -> Corporate Governance, at the address www.componenta.com. 

Helsinki, 2 June 2014 

COMPONENTA CORPORATION
 

Heikki Lehtonen
President and CEO 

For further information, please contact:

Heikki Lehtonen
President and CEO
tel. +358 10 403 2200 

Mika Hassinen
CFO
tel. +358 10 403 2723

Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 511 million in 2013 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,400 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.