Ahlstrom's Nomination Board makes proposals to the Annual General Meeting for composition and remuneration of the Board of Directors
ET | Source:Ahlstrom
Ahlstrom Corporation STOCK EXCHANGE RELEASE January 24, 2014 at 8.30
Ahlstrom's Shareholders' Nomination Board has made its proposal on the
composition and remuneration of the Board of Directors of the company.
Number of Board Members
The Nomination Board proposes that the number of Board members be eight, which
requires an amendment to the Company's Articles of Association. The Board
members are elected for the period ending at the close of the next Annual
Composition of the Board of Directors
The Nomination Board proposes that Robin Ahlström, Lori J. Cross, Esa
Ikäheimonen, Pertti Korhonen, Daniel Meyer and Anders Moberg be re-elected.
Peter Seligson, who has been a member of the Board of Directors of Ahlstrom
Corporation since 1999, has informed that he is no longer available for re-
election. Therefore it is proposed that Markus Rauramo, (b. 1968) and Panu
Routila (b. 1964) be elected as new members of the Board.
Markus Rauramo, M.Sc.(Econ.and Pol.Hist.), is the Chief Financial Officer and
member of the Management team of Fortum Corporation since 2012. He has worked in
several senior positions at Stora Enso Oyj, latest as CFO and member of the
Group Executive Team during 2008-2012. He is a member of the Board of Wärtsilä
Corporation, Teollisuuden Voima Oyj and Oy Proselectum AB, and member of the
Supervisory Board of Kemijoki Oy.
Panu Routila, M.Sc. (Econ), is the President and CEO of Ahlström Capital Oy. He
has previously held various senior executive positions, most recently as CEO of
Alteams Oy, part of Kuusakoski Group Ltd, in 2002-2007, and prior to that in
Outokumpu and Partek. He is Chairman of the Board at Vacon Plc, Enics AG, AC
Cleantech Management Oy and a board member at ÅR Packaging Group AB and Ripasso
All nominees are considered independent of the Company and of the significant
shareholders of the Company, except for Robin Ahlström who is not independent of
the Company's significant shareholder Antti Ahlström Perilliset Oy, where he is
a Board Member. Panu Routila, President and CEO of Ahlström Capital Oy, is
considered independent of the Company and of the significant shareholders of the
Ahlstrom Capital Oy will become a significant shareholder of Ahlstrom
Corporation following the execution of the demerger of Antti Ahlström Perilliset
Oy, announced on June 27, 2013 by Ahlstrom. In conjunction with this, Robin
Ahlström will become independent of a significant shareholder of the Company
while Panu Routila will not be independent of the Company's significant
The CVs of the proposed Board members are available on the website of the
company at www.ahlstrom.com.
The Nomination Board proposes that the remuneration of the Board members remains
unchanged, except that the annual remuneration of the Chairman of the Audit
Committee will be increased to correspond to the remuneration of the Vice
Chairman. The remunerations are as follows:
Chairman EUR 84,000 per year
Vice Chairman EUR 63,000 per year
Chairman of the Audit Committee EUR 63,000 per year
Members EUR 42,000 per year
In addition, the proposed remuneration for attendance at Board meetings is EUR
1,500 per meeting for Board members residing outside Finland. As regards the
permanent Board committees and the Nomination Board, the proposed remuneration
for attendance at committee and the Nomination Board meetings is EUR 1,500 per
meeting. Travel expenses are reimbursed in accordance with the Company's travel
The Nomination Board comprises representatives of the three largest shareholders
of Ahlstrom as of May 31, 2013 and in addition, the Chairman of the company's
Board of Directors and a person nominated by the Board of Directors.
Pertti Korhonen (Chairman), Alexander Ehrnrooth (Vimpu Intressenter Ab), Thomas
Ahlström (Antti Ahlström Perilliset Oy), Risto Murto (Varma Mutual Pension
Insurance Company) and Anders Moberg (member of Ahlstrom's Board).
For more information, please contact:
Vice President, Communications
Tel. +358 10 888 4757
Ahlstrom in brief
Ahlstrom is a high performance fiber-based materials company, partnering with
leading businesses around the world to help them stay ahead. Our products are
used in a large variety of everyday applications, such as filters, medical gowns
and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a
leading market position in the businesses in which we operate. In 2012,
Ahlstrom's net sales from the continuing operations (excluding Label and
Processing business) amounted to EUR 1 billion. Our 3,800 employees serve
customers in 24 countries. Ahlstrom's share is quoted on the NASDAQ OMX
Helsinki. More information available at www.ahlstrom.com.
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