Metso Corporation Stock Exchange Release January 22, 2007 at 5.00 p.m.
Metso Nomination Committee proposes seven members to the Board
The Nomination Committee established by the Metso's Annual General Meeting on
April 4, 2006, proposes to the next Annual General Meeting, which is planned to
be held on April 3, 2007, that the number of board members remains at seven.
The Nomination Committee proposes that from the current Board members Svante
Adde, Maija-Liisa Friman, Christer Gardell, Matti Kavetvuo, Yrjö Neuvo and Jaakko
Rauramo be re-elected. Matti Kavetvuo is proposed to continue as Chairman of the
Board and Jaakko Rauramo as Vice Chairman. It is also proposed that Eva
Liljeblom, Professor at Swedish School of Economics and Business Administration,
Helsinki, Finland, shall be elected as a new member of the Metso Board.
The new proposed Board member, Eva Liljeblom, Ph.D. (Econ.), is the Professor in
Finance and Head of the Departement of Finance and Statistics at Swedish School
of Economics and Business Administration, Helsinki, Finland. She holds currently
Board membership positions at Stockman PLC, a Finnish based department store and
retailer, at Fennia Mutual Insurance Company, Finland, at Municipality Finance
PLC, Finland and is the Chairman of the Investment Consultative Committee of the
State Pension Fund, Finland, the member of the Investment Strategy Council of the
Government Pension Fund - Global, Norway, and Official Controller of the OMXH25
index (Indeksiasiamies) for the Helsinki stock market (OMX).
The Nomination Committee proposes the following annual fees to be paid: Chairman
of the Board EUR 80,000, Vice Chairman of the Board and Chairman of the Audit
Committee EUR 50,000, and other Board members EUR 40,000. In addition, a fee of
EUR 500 per meeting is paid to all members for the Board and Board committee
meetings they attend.
Metso's Board of Directors will include these proposals into the Annual General
Meeting notice, which will be published later.
Personnel participation
The Nomination Committee notes that a personnel representative will participate
as an external expert in the Metso Board meetings also in the next Board term
within the limitations imposed by the Finnish law. The new Board will invite the
personnel representative as its external expert in April 2007.
The Nomination Committee
The members of the Nomination Committee were Markku Tapio (Chairman of the
Nomination Committee), Director General, State Shareholdings unit (State of
Finland); Harri Sailas, CEO (Ilmarinen Mutual Pension Insurance Company); Mikko
Koivusalo, Director, Investments (Varma Mutual Pension Insurance Company) and
Henry Wiklund, Managing Director (Svenska litteratursällskapet i Finland r.f.).
Matti Kavetvuo, Chairman of Metso's Board of Directors, served 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 25,000 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.
www.metso.com
For further information, please contact:
Aleksanteri Lebedeff, Senior Vice President, General Counsel, Metso Corporation
Tel. +358 204 84 3240
Johanna Sintonen, Vice President, Investor Relations, Metso Corporation
Tel. +358 204 84 3253
Metso Corporation
Olli Vaartimo Kati Renvall
Executive Vice President and CFO Vice President,
Corporate Communications
distribution:
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