Stock Exchange Release
January 30, 2017 at 9.30 am (CET+1)
Kemira Oyj: Proposals of the Nomination Board to the Annual General Meeting 2017
The Nomination Board proposes to the Annual General Meeting of Kemira Oyj that six members (previously seven) be elected to the Board of Directors and that the present members Wolfgang Büchele, Kaisa Hietala, Timo Lappalainen, Jari Paasikivi and Kerttu Tuomas be re-elected as members of the Board of Directors. Nomination Board proposes that Ms. Shirley Cunningham be elected as new member of the Board of Directors. In addition, the Nomination Board proposes Jari Paasikivi be re-elected as the Chairman of the Board of Directors and Kerttu Tuomas be re-elected as the Vice Chairman. All the nominees have given their consent to the position. Winnie Fok and Juha Laaksonen have advised the Nomination Board, that they are not be available as candidates to continue in Kemira’s Board of Directors.
Ms. Shirley Cunningham is working as Executive Vice President and Chief Operating Officer, Ag Business and Enterprise Strategy and as a member of the Senior Leadership Team at CHS Inc., USA. She currently serves on the board of directors of Ardent Mills, LLC, Ventura Foods, LLC and TEMCO, LLC. Ms. Cunningham holds master’s degree in business administration from Washington University.
The Nomination Board proposes to the Annual General Meeting that the remuneration paid to the members of the Board of Directors will remain unchanged. The remuneration paid to the members of the Board of Directors would thus be as follows. The annual fees: for the Chairman EUR 80,000 per year, for the Vice Chairman and the Chairman of the Audit Committee EUR 49,000 per year and for the other members EUR 39,000 per year. A fee payable for each meeting of the Board of Directors and the Board Committees would be for the members residing in Finland EUR 600, for the members residing in rest of Europe EUR 1,200 and for the members residing outside Europe EUR 2,400. Travel expenses are proposed to be paid according to Kemira’s travel policy.
In addition, the Nomination Board proposes to the Annual General Meeting that the annual fee be paid as a combination of the company’s shares and cash in such a manner that 40% of the annual fee is paid with the company’s shares owned by the company or, if this is not possible, shares purchased from the market, and 60% is paid in cash. The shares will be transferred to the members of the Board of Directors and, if necessary, acquired directly on behalf of the members of the Board of Directors within two weeks from the release of Kemira’s interim report January 1 – March 31, 2017. The meeting fees are proposed to be paid in cash.
The Nomination Board has consisted of the following representatives: Pekka Paasikivi, Chairman of the Board of Oras Invest Oy as the Chairman of the Nomination Board; Kari Järvinen, Managing Director of Solidium Oy; Reima Rytsölä, Executive Vice-President, Varma Mutual Pension Insurance Company and Timo Ritakallio, President and CEO, Ilmarinen Mutual Pension Insurance Company as members of the Nomination Board and Jari Paasikivi, Chairman of Kemira’s Board of Directors as an expert member.
For more information, please contact
Pekka Paasikivi, Chairman of the Kemira Nomination Board
+358 10 2868 100
Olli Turunen, Vice President, Investor Relations
+358 10 862 1255
Kemira is a global chemicals company serving customers in water-intensive industries. We provide expertise, application know-how and chemicals that improve our customers’ water, energy and raw material efficiency. Our focus is on pulp & paper, oil & gas, mining and water treatment. In 2015, Kemira had annual revenue of EUR 2.4 billion and around 4,700 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd.