Componenta Corporation: Proposals of the Shareholders’ Nomination Board to the Annual General Meeting
Componenta Corporation Stock Exchange Release, 28 January 2021 at 12:10
The Shareholders’ Nomination Board of Componenta Corporation proposes the following to the Annual General Meeting 2021 planned to be held on 9 April 2021.
Number of members of the Board of Directors
The Nomination Board proposes that the number of Board members will be four (4) for the term expiring at the close of Annual General Meeting 2022.
Composition of the Board of Directors
The Nomination Board proposes that the current members of the Board of Directors Anne Leskelä, Harri Suutari and Petteri Walldén are re-elected, and that Tomas Hedenborg shall be elected as a new member of the Board of Directors. All nominees have given their consent to the position. Of the current Board members Harri Pynnä is not proposed for re-election.
Tomas Hedenborg, (b. 1959; M.Sc.(Tech.)), has in his career acted as e.g. President and CEO of Fastems Oy Ab and Finn-Power Oy as well as in international managerial positions in the automotive industry. During 2015-2019, Hedenborg acted as President of Orgalim, the federation representing European technology industry. Since 2019, he has worked as management consultant related to strategic and structural renewal of companies. Hedenborg acts as a Member of the Board, inter alia, in Kemppi Oy, Meconet Oy, Ursviken Group Oy, Spinverse Oy and in Technology Industries of Finland Centennial Foundation.
Out of the nominees, Anne Leskelä, Petteri Walldén and Tomas Hedenborg are independent of the company and of the significant shareholders of the company. Harri Suutari is independent of the significant shareholders of the company, but not of the company as he was the President and CEO of the company from November 2015 until August 2019.
Information regarding the proposed members of the Board of Directors is available on the company’s website at www.componenta.com/investors/corporate-governance/general-meeting/agm-2021/.
When preparing its proposal, the Nomination Board has taken into consideration the Board of Directors’ diversity policy, including its aim to ensure continuity by nominating Board members who have long term experience of the company’s business.
Remuneration of the Board of Directors
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 2022, 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.
Composition of the Shareholders’ Nomination Board
The Nomination Board of Componenta Corporation consists of Kyösti Kakkonen, representing shareholder Joensuun Kauppa ja Kone Oy, Harri Suutari, the Chairman of the Board of Directors of Componenta Corporation, authorized by shareholder Etra Capital Oy and acting as an expert member, and Timo Sallinen, representing shareholder Varma Mutual Pension Insurance Company.
The proposals of the Nomination Board will be included in the notice to the Annual General Meeting.
COMPONENTA CORPORATION
Sami Sivuranta
President and CEO
For further information, please contact:
Harri Suutari, Chairman of the Nomination Board, tel: +358 40 038 4937
Componenta is an international technology company with operations located in Finland. With its wide technology portfolio, Componenta produces e.g. cast, machined and unmachined components for its clients who are local and global manufacturers of vehicles, machines and equipment. The company’s share is listed on Nasdaq Helsinki.