HELSINKI, Finland, Nov. 16, 2006 (PRIMEZONE) -- Metso's Nomination Committee, established by the Annual General Meeting, prepares proposals on the composition of the Board of Directors along with the director remuneration for the next Annual General Meeting, which is tentatively scheduled for April 3, 2007. The Nomination Committee will present its proposal to the company's Board of Directors no later than February 1, 2007. The Nomination Committee consists of the representatives named by the four biggest registered shareholders as of November 1, 2006 along with the Chairman of Metso's Board of Directors as an expert member.
Metso's four biggest registered shareholders on November 1, 2006 were: State of Finland, Ilmarinen Mutual Pension Insurance Company, Varma Mutual Pension Insurance Company and Odin Norden. Odin Norden did not nominate its representative for the Nomination Committee. Thus the right to nominate has been transferred to the next largest registered shareholder as of November 1, 2006, Svenska litteratursallskapet i Finland r.f. (922,000 shares or 0.65% of share capital).
The above mentioned shareholders have chosen the following persons as their representatives for Metso's Nomination Committee: Markku Tapio (Chairman of the Nomination Committee), Director General, State Shareholdings unit (State of Finland); Harri Sailas, Deputy CEO (Ilmarinen Mutual Pension Insurance Company); Mikko Koivusalo, Director, Investments (Varma Mutual Pension Insurance Company) and Henry Wiklund, Managing Director (Svenska litteratursallskapet i Finland r.f.). Matti Kavetvuo, Chairman of Metso's Board of Directors, serves as the Committee's expert member.
Metso is a global engineering and technology corporation with 2005 net sales of approximately EUR 4.2 billion. Its 22,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries.