The nominees for Fortum's Board of Directors for the year 2011

The Annual General Meeting of Fortum Corporation, held on 25 March 2010, appointed a Shareholders' Nomination Committee consisting of representatives of the three largest shareholders to prepare proposals for the next Annual General Meeting concerning Board members and their fees. In its meeting on 1 February 2011, the Shareholders' Nomination Committee decided to propose to the Annual General Meeting, which is to be held on 31 March 2011, that the Board consists of seven members and that the following persons are elected to the Board of Directors. Matti Lehti and Birgitta Johansson-Hedberg have stated that they are no longer available for election.

To be re-elected:
Sari Baldauf, to be elected as chairman
Christian Ramm-Schmidt, to be elected as deputy chairman
Esko Aho as member
Ilona Ervasti-Vaintola as member
Joshua Larson as member

To be elected as new members:
Minoo Akhtarzand as member
Heinz-Werner Binzel as member

The Shareholders' Nomination Committee proposes to the Annual General Meeting that the fees to be paid to the members of Board remain unchanged compared to 2010 and are as follows:
 
Chairman, EUR 66,000/year
Deputy chairman, EUR 49,200/year
Member, EUR 35,400/year
Meeting fee, EUR 600/meeting.

The meeting fee is also paid for committee meetings and is paid in double to a member who lives outside Finland in Europe and in triple to a member who lives elsewhere outside Finland.

Furthermore, travel expenses shall be compensated for in accordance with the Company’s travel policy.

Fortum Corporation
Anne Brunila
Executive Vice President, Corporate Relations and Sustainability

Further information:
Pekka Timonen, Chairman of the Shareholders' Nomination Committee, tel. +3589 1602 3000
 
Distribution:
NASDAQ OMX Helsinki
Key media
www.fortum.com

 

Biographical details of the new proposed board members

MINOO AKHTARZAND
Born 1956

Education:
Civil Engineer, Electrical engineering, Kungliga Tekniska Högskolan

Main occupation:
Governor in the County of Jönköping

Primary work experience:
Swedish National Rail Administration, Director-General, 2008-2010
Regional Labour Agency, Director, 2006-2008
Vattenfall AB, several senior executive positions, 1984-2006
Stockholm Energi, 1981-1984

Key positions of trust:
Sveriges Radio, Board Member, 2007-
EIM (European Infrastructure Managers), Vice Chairman, 2009-2010
Vattenfall Bränsle AB, Board Member, 2004-2006
Vattenfall Vattenkraft, Board Member, 2003-2006
Vattenfall Business service AB, Board Member, 2003-2006
Västerbergslagens Energi AB, Chairman of the board, 2000-2004

Shareholding:
Minoo Akhtarzand does not own Fortum Corporation shares

HEINZ-WERNER BINZEL
Born 1954

Education:
Technische Hochschule Darmstadt / Queen Mary College, London
Economics and electrical engineering degree: Diplom-Wirtschaftsingenieur

Fachhochschule Mainz
Business economics degree: Betriebswirt (grad.)

Main occupation:
Independent consultant

Primary work experience:
RWE Energy AG, Board member for procurement and sale of electricity, gas, and water, 2003-2005
RWE SOLUTIONS AG, Board member as CFO and from 2002 onward as CEO, 1999-2003
NUKEM GMBH, several senior executive positions in Germany and the USA, 1981-1999

Key positions of trust:
TÜV Rheinland Holding AG, Member of Supervisory board, since 04/2008; Chairman of Audit Committee, since 04/2010
RWE Solutions AG, Chairman of Supervisory board, 2003-2006

Shareholding:
Heinz-Werner Binzel does not own Fortum Corporation