The State of Finland's proposals to Fortum's Annual General Meeting on the remuneration and the members of the Supervisory Board
Fortum Corporation, Stock Exchange Release, 2011-02-25 14:31 CET (GLOBE
NEWSWIRE) -- Fortum Corporation has today received its majority owner the State
of Finland's proposals to the Annual General Meeting (AGM) to be held on 31
March 2011 concerning the remuneration and the election of members to the
Supervisory Board. As stated in the invitation to the AGM, the State is
proposing that the Supervisory Board is dissolved.
The State has announced that if the proposal to dissolve the Supervisory Board
is approved in the AGM, it will propose that no remuneration should be paid to
the Chairman, Vice Chairman, or other members of the Supervisory Board for the
period between the AGM and the registration of the relevant amendment to the
Company's Articles of Association.
In the event that the State's proposal is not approved, the State has announced
that it will propose to the AGM that the remuneration paid and the expenses
reimbursed to the Chairman, Vice Chairman, and members of the Supervisory Board
should remain unchanged. In this case, the Chairman shall receive a
compensation of EUR 1,000 per month, the Vice Chairman EUR 600 per month, and
other members EUR 500 per month. In addition, an attendance fee of EUR 200 per
meeting shall be made to members attending meetings and members' expenses
reimbursed in accordance with the Fortum's travel policy.
The State of Finland has announced that it will propose to the AGM that the
number of members of the Supervisory Board shall be confirmed at ten (10) and
that the following members should be re-elected to the Supervisory Board: Mr.
Markku Laukkanen, Ms. Sanna Perkiö, Mr. Martti Alakoski, Ms. Tarja Filatov, Mr.
Sampsa Kataja, Mr. Kimmo Kiljunen, Ms. Katri Komi, Mr. Panu Laturi, Mr. Juha
Mieto and Ms. Helena Pesola. Furthermore, the State will propose that Mr.
Markku Laukkanen should continue as Chairman and Ms. Sanna Perkiö as Vice
Chairman.
In the event that the proposal to dissolve the Supervisory Board is approved in
the AGM, the members shall be elected for a term of office ending when the
appropriate amendment to the Company's Articles of Association has been
registered. Otherwise, the members shall be elected for a term of office ending
at the conclusion of the next AGM following such a decision.
All candidates have given their consent to the office.
Fortum Corporation
Anne Brunila
Executive Vice President, Corporate Relations and Sustainability
Further information:
Mr Pekka Timonen, Director General, Ownership Steering Department in the Prime
Minister's Office, tel. +358 9 1602 3000
Distribution:
NASDAQ OMX Helsinki
Key media
www.fortum.com
