Appointments Committee's proposal regarding composition of Raute Corporation's Board of Directors
RAUTE CORPORATION STOCK EXCHANGE RELEASE 28 JANUARY 2014 at 5:00 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 31 March 2014 that the number of the Board members is six. The Appointments Committee proposes that Mr. Erkki Pehu-Lehtonen, M.Sc. (Eng.), be re-elected as Chairman of the Board of Directors, Mr. Mika Mustakallio, M.Sc. (Econ.), be re-elected as Vice Chairman of the Board of Directors and Mr. Risto Hautamäki, M.Sc. (Eng.), Mr. Pekka Suominen, M. Sc. (Econ.), and Mr. Joni Bask, M.Sc. (Eng.), be re-elected as members of the Board of Directors. The Appointments Committee also proposes that Mrs. Päivi Leiwo-Svensk, Master of Laws, MBA, will be elected as a new member of the Board of Directors. The proposed persons have given their consent to the election. The current Board member, Mr. Ilpo Helander has informed that he is not available for re-election.
Master of Laws, MBA Mrs. Päivi Leiwo-Svensk, born in 1964, who has been proposed as a new member of the Board of Directors is full-time Chair of the Board of her family-owned company Oilon Oy (2009–). She has previously worked as a lawyer for Oilon Oy (1989–2009). In addition she holds positions of trust on the Board of Directors of The Federation of Finnish Technology Industries and is Chair of the working group for competitiveness, a member of the Team Finland network’s steering group, member of Finpro’s Board of Directors and a member of the Board of Directors of Finnfund (the Finnish Fund for Industrial Cooperation Ltd.), among others.
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 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 in Canada, in the Shanghai area in China, and in Kajaani, Finland.
More information about the company can be found at www.raute.com.