Munksjö: Proposals of the Shareholders' Nomination Board to the Annual General Meeting 2016
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 26 January 2016 at 8.15 a.m. CET
Munksjö: Proposals of the Shareholders' Nomination Board to the Annual General Meeting 2016
The Nomination Board comprises representatives of the three largest shareholders of the company and, in addition, of the Chairman of the Board of Directors and a person nominated by the company's Board of Directors, as expert members. According to its charter, the Nomination Board shall submit its proposals to the Board of Directors at the latest on 31 January preceding the next Annual General Meeting.
The Annual General Meeting of Munksjö Oyj will be held on Wednesday, 6 April 2016 at the Finlandia Hall in Helsinki. The notice to convene the Annual General Meeting will be given later on by the Board of Directors.
On 16 June 2015, Thomas Ahlström (Ahlström Capital Oy and others), Alexander Ehrnrooth (Viknum AB) and Mikko Mursula (Ilmarinen Mutual Pension Insurance Company) were appointed to the Nomination Board. The Chairman of the Board of Directors Peter Seligson acts as an expert member of the Nomination Board in addition to which the Board of Directors elected Fredrik Cappelen as the second expert member. Among its members, the Nomination Board elected Thomas Ahlström as Chairman.
The Nomination Board has at its meeting today submitted the following proposals to the Annual General Meeting 2016;
Proposal on the composition of the Board of Directors
The number of Board members shall increase by one and shall be confirmed at seven (7). Current members of the Board of Directors; Peter Seligson (born 1964), Sebastian Bondestam (born 1962), Elisabet Salander Björklund (born 1958), Hannele Jakosuo-Jansson (born 1966) and Alexander Ehrnrooth (1974) shall be re-elected. Anna Ohlsson-Leijon and Mats Lindstrand shall be elected as new members of the Board of Directors. Fredrik Cappelen, current member of the Board, has informed the Nomination Board that he is not available for re-election.
The proposed members of the Board of Directors have indicated that they, if elected, will elect Peter Seligson as the Chairman of the Board and Elisabet Salander Björklund as the Deputy Chairman of the Board.
Ms. Anna Ohlsson-Leijon (born 1968), Swedish citizen, B.Sc. (Bus. Adm.) joined Electrolux AB in 2001 and is currently CFO in the Business Area Major Appliances, EMEA. Her previous positions within the company include SVP, Head of Corporate Control & Services and SVP, Group Treasurer. Ms. Ohlsson-Leijon has held and currently holds positions of trust. She is Deputy Chairman of the Board of Directors of SEB Investment Management AB. Ms. Ohlsson-Leijon is independent of the company and its significant shareholders.
Mr. Mats Lindstrand (born 1959), Swedish citizen, M.Sc. (Civil Engineering) and MBA, is currently the Managing Partner at BioMass Capital AB. Mr Lindstrand holds several positions of trust, he is the Chairman of the Board in both Sensec AB and FRISQ AB, a member of the Board of Directors at Papyrus AB, Sirva Inc. and Erik Andersson AB. He is also senior advisor at McKinsey&Company and Triton Advisers Ltd. Mr. Lindstrand is independent of the company and its significant shareholders.
The CV's of the current members of the Board of Directors are available at www.munksjo.com.
Proposal to amend the Charter of the Nomination Board following the new Corporate Governance Code
The Nomination Board will also make a proposal to the Annual General Meeting, which will be included in the notice to the Annual General Meeting, regarding some amendments to its Charter mainly resulting from the entry into force of the new Finnish Corporate Governance Code on 1 January 2016. Also some amendments of a mainly technical nature will be proposed.
Proposal on the remuneration of the members of the Board of Directors, the Board committees and the Nomination Board
The annual remuneration of the Board of Directors shall remain unchanged with the exception of the Deputy Chairman. The Chairman shall receive EUR 80,000 a year, the Deputy Chairman 50,000 EUR and the ordinary members EUR 40,000 each.
The annual remuneration of the Board committees shall remain unchanged. The chairman of the Audit Committee shall annually receive EUR 12,000 and the ordinary members EUR 6,000 each. The chairman of the Remuneration Committee shall annually receive EUR 6,000 and the ordinary members EUR 3,000 each.
The chairman of the Nomination Board shall annually receive EUR 6,000 and the ordinary members EUR 3,000 each.
Travel expenses are proposed to be reimbursed in accordance with the company's travel policy.
Munksjö Oyj
For more information, please contact:
Gustav Adlercreutz, Secretary of the Board of Directors and the Nomination Board, tel. +358 10 234 5001
Munksjö - Intelligent paper technology
Munksjö is a world-leading manufacturer of advanced paper products developed with intelligent paper technology. Munksjö offers customer-specific innovative design and functionality in areas ranging from flooring, kitchens andfurnishings to release papers, consumer-friendly packaging and energy transmission. The transition to a sustainable society is a natural driving force for Munksjö's growth as the products can replace non-renewable materials.This is what "Made by Munksjö" stands for. Given Munksjö's global presence and way of integrating with the customers, the company forms a worldwide service organisation with approximately 2,900 employees and 15 facilities located in France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö's share is listed on Nasdaq in Helsinki and Stockholm. Read more at www.munksjo.com.