Proposals of the Nomination Board to the Annual General Meeting

The Nomination Board of Componenta Corporation proposes to the Annual General Meeting to be held on 18 March 2016 that remuneration of 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 2017, will be paid annual remuneration as follows: EUR 60,000 to the Chairman and EUR 30,000 to the members of the Board of Directors. In addition, 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 proposes that the number of the members will be six and that the current members of the Board of Directors Olavi Huhtala, Olli Isotalo, Perttu Louhiluoto, Riitta Palomäki, Matti Ruotsala and Tommi Salunen will be re-elected. The presentation of the proposed members of the Board of Directors is available on Componenta’s website www.componenta.com.

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.

The Nomination Board consisted of Erkki Etola (shareholders Etra Capital Oy and Tiiviste-Group Oy), Reima Rytsölä (shareholder Varma Mutual Pension Insurance Company) and Heikki Lehtonen (shareholders Heikki Lehtonen and the companies in which he exercises control, Oy Högfors-Trading Ab and Cabana Trade SA). In addition, the Chairman of the Board of Directors of Componenta, Harri Suutari until 16 November 2015 and Matti Ruotsala as of 16 November 2015, acted as an expert member of the Nomination Board. 

When preparing its proposal for the members of the Board of Directors the Nomination Board paid attention to the diversity of the new Board of Directors, which is important for reaching the targets of Componenta and ensuring profitable business. The proposed members of the Board of Directors have comprehensive experience of management positions in different industries and comprehensive knowledge about businesses and development of internationally operating companies. Both genders are represented, and their experiences of different functions (including production, sales, financing and finance) are complementary and cover the key functions of an industrial and stock exchange listed company. The proposed Board members know Componenta’s business and they have a clear understanding of the current change and development needs of the Group.

Helsinki, 22 January 2016

COMPONENTA CORPORATION
 

Markku Honkasalo
CFO

For further information, please contact:

Reima Rytsölä
Chairman of the Nomination Board
Tel. +358 10 244 3180
  

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 495 million in 2014 and its share is listed on Nasdaq Helsinki. The Group employs approx. 4,250 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.