CORRECTION: Proposal of Glaston Corporation’s Nomination Board on the number of Members of the Board of Directors and the composition and remuneration of the Board of Directors
Glaston Corporation Stock Exchange Release 29.1.2014 at 10.45
In Glaston corporation’s Stock Exchange Release published on 23 January 2014 regarding the Proposal of Glaston Corporation’s Nomination Board on the number of Members of the Board of Directors and the composition and remuneration of the Board of Directors, information about the meeting fee and the voluntary pension insurance was missing. The corrected release in full below.
Proposal of Glaston Corporation’s Nomination Board on the number of Members of the Board of Directors and the composition and remuneration of the Board of Directors
Number of Members of the Board of Directors
The Nomination Board, established by Glaston Corporation’s Annual General Meeting, proposes to the Annual General Meeting to be held on 2 April 2014 that the number of Members of the Board of Directors be confirmed as six.
Composition of the Board of Directors
The Nomination Board proposes that the company’s present Members of the Board of Directors, Andreas Tallberg, Teuvo Salminen, Claus von Bonsdorff, Pekka Vauramo and Anu Hämäläinen, be re-elected as Members of the Board of Directors for a term of office that expires at the end of the 2015 Annual General Meeting. The Nomination Board also proposes that Kalle Reponen be elected as a new Member of the Board of Directors to replace Christer Sumelius, who will resign.
Kalle Reponen M.Sc (Econ.), b. 1965, is currently an independent consultant and professional board member. He formerly served with Metso Corporation as Senior Vice President, Strategy and M&A and Member of the Executive Board. He has long experience of strategic planning and implementation as well as M&A activity and corporate finance. Information on the proposed Members of the Board can be found on Glaston’s website www.glaston.net/Investors/AGM2014. All candidates have given their consent to their candidature.
Remuneration of Members of the Board of Directors
The Nomination Board proposes that the remuneration of the Members of the Board of Directors remain unchanged and that the Members be paid the following annual fees: the Chairman of the Board EUR 40,000, the Deputy Chairman of the Board EUR 30,000 and the other Members of the Board EUR 20,000, and that a meeting fee of EUR 800 per meeting be paid to the Chairman and EUR 500 to other Members. In addition, it is proposed that each Member of the Board should be compensated for direct expenses arising from their work for the Board of Directors. Furthermore, it was decided to propose that the company will continue to arrange voluntary pension insurance for Members of the Board based on the above remuneration.
The Nomination Board consists of the representatives of the four largest shareholders and also, as an advisory member, the Chairman of the Board of Glaston Corporation. The largest shareholders were determined according to the ownership situation on 2 September 2013. The Nomination Board that made the proposals to the 2014 Annual General Meeting consists of: Ari Saarenmaa (Oy G.W.Sohlberg Ab), Jari Puhakka (Etera Mutual Pension Insurance Company), Mikko Koivusalo (Varma Mutual Pension Insurance Company), Kimmo Viertola (Finnish Industry Investment Ltd) and Chairman of the Board Andreas Tallberg (advisory member).
The Nomination Board made all of its proposals unanimously. Chairman of the Board Andreas Tallberg did not participate in decision-making when the Nomination Board made its proposal on the number of Members of the Board and the Board of Director’s composition and remuneration.
Taina Tirkkonen, General Counsel, Glaston Corporation, tel. +358 10 500 500
Director, Communications and Marketing
Glaston is a global company developing glass processing technology for architectural, solar, appliance and automotive applications. Our product portfolio ranges from pre-processing and safety glass machines to services. We are dedicated to our customers’ continued success and provide services for all glass processing needs with a lifecycle-long commitment in mind. For more information, please visit www.glaston.net. Glaston’s share (GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List.
Distribution: NASDAQ OMX Helsinki, key media, www.glaston.net
Kalle Reponen , b. 1965
Married, three daughters
Independent consultant and board professional
Primary work experience:
Senior Vice President, Strategy and M&A, Metso Corporation, member of group executive board 2006-12/2013
Partner, MCF Corporate Finance GmbH 2003-2006
Director, Nordea Corporate Finance 2000-2003
Vice President, Business Development, Metra Corporation 1999-2000
Business Area Controller, Power Plants, Wärtsilä New Sulzer Diesel 1997-1999
Manager, Business Development and Finance, Wärtsilä Diesel 1995-1997
Treasury Manager, Metra Corporation 1991-1995
Corporate Dealer, Lohja Corporation 1988-1991
Positions of trust:
Robit Rocktools Oy, board member
Swot Consulting Oy, member of the advisory board