Proposals of The Shareholders' Nomination Committee on the composition and remuneration of the Board of Directors of Finnair Plc
Proposals of The Shareholders' Nomination Committee on the composition and
remuneration of the Board of Directors of Finnair Plc
Finnair Plc Stock Exchange Release 30 January 2013 at 14:55 EET
The Shareholders' Nomination Committee proposes to Finnair Plc's Annual General
Meeting (AGM) to be held on March 27, 2013 that the number of members of the
Board of Directors would be confirmed at seven.
Proposal on the composition of Board of Directors
The Shareholders' Nomination Committee proposes that present members of the
Board of Directors Ms. Maija-Liisa Friman, Mr. Klaus W. Heinemann, Mr. Jussi
Itävuori, Ms. Merja Karhapää, Mr. Harri Kerminen and Ms. Gunvor Kronman be
re-elected, and that Mr. Antti Kuosmanen be elected as a new member to the
Board of Directors. All candidates have given their consent to the position.
Mr. Antti Kuosmanen (b. 1950, BA, M.Sc. (Mathematics, Economics and
Statistics), Finnish nationality) has more than 35 years of experience in
economic relations in the EU. He is permanent representative of Finland to the
OECD and to UNESCO. Between 2005 and 2009 Kuosmanen was the Ambassador of
Finland to the People’s Republic of China and to Mongolia, and prior to that
from 2002 to 2005 Director General of the Department for External Economic
Relations in the Finnish Ministry of Foreign Affairs. He held various positions
between 1976 and 2002 in the administration of Finland's foreign affairs, being
based either in Finland or in Europe. He was, among other things, a member of
the delegation negotiating Finland's accession to the EU. In the aviation
industry many agreements and regulations are negotiated between countries, and
Mr. Kuosmanen's extensive experience in international diplomacy and Finnair's
key markets in Asia and Europe shall strengthen the expertise of the Board of
Directors in international trade politics.
The Committee further proposes that Mr. Klaus W. Heinemann be elected as
Chairman of the Board. He has been a member of the Board since 2012 and has
more than 25 years of experience in the aviation industry, particularly in
aircraft financing. The current Chairman of the Board Mr. Harri Sailas
announced in December 2012 that he will not stand as a candidate for the new
The biographical details of the other proposed board members can be found on
the internet at www.finnairgroup.com/group.
Proposal on Board of Directors’ remuneration
The Committee proposes to the AGM that the remunerations of the members of the
Board of Directors would remain unchanged. The current remunerations have been
the same since 2008 and are:
- Chairman 61,200 euros per year
- Vice Chairman 32,400 euros per year
- other members 30,000 euros per year
- to a member residing in Finland 600 euros and to a member residing abroad
1,200 euros per meeting of the Board or its Committee.
The Nomination Committee
The Shareholders' Nomination Committee consists of the representatives of the
three largest shareholders of Finnair as of 1 November 2012. The members of the
Committee were Mr. Jarmo Väisänen, (Republic of Finland), Mr. Robin Backman
(Local Government Pensions Institution) and Mr. Per Wennberg (Skagen Global
Verdipapirfond). The Chairman of Finnair's Board, Mr. Harri Sailas served as
expert member of the Committee.
The above proposals will be included in the notice to convene the AGM that will
be published later.
For further information, please contact:
Jarmo Väisänen, Senior Financial Counsellor, Prime Minister's Office, Chairman
of the Shareholders' Nomination Committee, tel. +358 9 1602 3015.
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