Appointments Committee's proposal regarding composition of Raute Corporation's Board of Directors
RAUTE CORPORATION STOCK EXCHANGE RELEASE 16 FEBRUARY 2015 at 1:00 p.m.
APPOINTMENTS COMMITTEE'S PROPOSAL REGARDING COMPOSITION OF RAUTE CORPORATION'S BOARD OF DIRECTORS
Raute Corporation's Appointments Committee has informed that it will propose to the Annual General Meeting convening on 24 March 2015 that the number of the Board members is six. The Appointments Committee proposes that Mr. Erkki Pehu-Lehtonen (Chairman of the Board), Mr. Mika Mustakallio (Vice-Chairman of the Board), Mr. Joni Bask, Mr. Risto Hautamäki, Mrs. Päivi Leiwo, and Mr. Pekka Suominen will be re-elected. The proposed persons have given their consent to the election.
The Appointments Committee further proposes that the remunerations to the Board members shall continue to be 40,000 euros to the Chairman of the Board and 20,000 euros to the Board members for the term of office.
Raute Corporation’s Appointments Committee consists of Chairman of the Board Mr. Erkki Pehu-Lehtonen, Vice-Chairman Mr. Mika Mustakallio and Mr. Ville Korhonen, appointed from among the representatives of major shareholders who have significant voting rights.
The proposals above will be included in the notice to the Annual General Meeting which will be published later.
RAUTE CORPORATION
Arja Hakala
Chief Financial Officer
FURTHER INFORMATION:
Mr. Erkki Pehu-Lehtonen, Chairman of the Board, mobile +358 400 468 084
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood and LVL (Laminated Veneer Lumber). The technology offering covers machinery and equipment for the entire production process. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in Nastola, Finland. Its other production plants are in the Vancouver area of Canada, in the Shanghai area of China, and in Kajaani, Finland. Raute’s net sales in 2014 were EUR 94.0 million. The Group’s headcount at the end of 2014 was 587.
More information about the company can be found at www.raute.com.