Componenta Corporation: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting

Componenta Corporation Stock Exchange Release on 2 January 2019 at 10.30

The Shareholders’ Nomination Board of Componenta Corporation proposes to the Annual General Meeting 2019 that the number of Board members will be four. The Nomination Board proposes that the current members of the Board of Directors Anne Leskelä, Asko Nevala and Petteri Walldén are re-elected and Harri Pynnä is elected as new member to the Board. Board member Olli Isotalo has notified Componenta’s Nomination Board that he is not available for re-election.

Harri Pynnä (b. 1956; LL.M., Trained at the Bench) is currently Director, Governance and Risk Management at Caruna. Before joining Caruna, Pynnä worked as the Group General Counsel and Secretary to the Board of Directors at Fortum Corporation. Pynnä has earlier acted as a Member of the Board, inter alia, in Finavia Corporation, Teollisuuden Voima Oy, Governia Oy, Finnish Industry Investment Ltd, Sponda Plc and Outokumpu Oyj.

All the nominees are independent of the company and of the significant shareholders of the company, and they have given their consents to the position. When preparing its proposal, the Nomination Board has taken into consideration the company’s Board of Directors’ diversity policy. The proposed members of the Board of Directors have comprehensive knowledge about businesses and development of internationally operating companies. Both genders are represented, they have relevant industrial experience and their experiences of different functions (including production, sales, financing, finance and risk management) are complementary and cover the key functions of an industrial and stock exchange listed company.

The Shareholders’ Nomination Board proposes that remuneration for the members of the Board of Directors remains unchanged. The members of the Board of Directors who will be elected to the term continuing to the Annual General Meeting 2020, will be paid annual remuneration as follows: EUR 50,000 to the Chairman and EUR 25,000 to the members of the Board of Directors. If the Board of Directors decides to establish committees, an annual fee of EUR 5,000 will be paid to the members of Board committees. Travel expenses of the members of the Board of Directors will be compensated in accordance with the Company’s travel policy.

The Nomination Board consists of Timo Sallinen, representing shareholder Varma Mutual Pension Insurance Company, Hanna Hiidenpalo, representing shareholder Elo Mutual Pension Insurance Company and Jari Sokka, representing shareholder The Finnish Cultural Foundation. In addition, the Chairman of the Board of Directors, Petteri Walldén acts as an expert member of the Nomination Board. Timo Sallinen is chairman of the Nomination Board.

COMPONENTA CORPORATION

Harri Suutari
President and CEO

For further information, please contact:
Timo Sallinen
Chairman of the Nomination Board
Tel. +358 40 543 9587

Componenta is an international technology company. Componenta specializes in supplying cast and machined components to its global customers, who are manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.