Vantaa, Finland, 2016-01-27 08:30 CET (GLOBE NEWSWIRE) -- Cramo Plc Stock Exchange Release 27 January 2016, at 9.30 am Finnish time (EET)
The Shareholders' Nomination Committee's proposal on the composition and remuneration of the Board of Directors of Cramo Plc
Proposal on the composition of the Board of Directors
The Shareholders' Nomination Committee of Cramo Plc proposes to the next Annual General Meeting of Shareholders, which is planned to be held on 31 March 2016, that the number of members of the Board of Directors be confirmed as seven (7) ordinary members. The Nomination Committee proposes that, in accordance with their consents, the following current members of the Board be re-elected: Helene Biström, Peter Nilsson, Joakim Rubin, Raimo Seppänen, Erkki Stenberg and Caroline Sundewall and that Perttu Louhiluoto be elected as new Board member, all to serve for a term ending at the end of the Annual General Meeting 2017. Of the current members of the Board Leif Boström and Eino Halonen have announced that they will not be available for re-election.
Perttu Louhiluoto (born 1964) is currently President of the business area Services within Metso Corporation. He has held several senior management positions in Metso Corporation since 2008, including President of Flow Control (2014-2015), President of Automation (2012-2014) and President of Energy and Environmental Technology (2011). He was Partner at McKinsey & Company from 2000-2008 and held various positions at McKinsey & Company from 1991-1999. Perttu is currently a member of the board of directors at Componenta Corporation (since 2015). He holds a Master of Law and a M.Sc. in Economics.
Proposal on the remuneration of the members of the Board of Directors
The Nomination Committee proposes to the Annual General Meeting that the Chairman of the Board be paid EUR 70,000 per year, the deputy chairman of the Board EUR 40,000 per year, and the other members of the Board EUR 35,000 per year. Furthermore it is proposed that 50 percent of the annual remuneration be paid in Cramo shares purchased on the market on be-half of the Board members. The remuneration may also be paid by transferring the Company’s own shares based on the authorisation given to the Board of Directors by the General Meeting of Shareholders. In case such purchase of shares is not carried out due to reasons related to either the Company or a Board member, the annual remuneration shall be paid entirely in cash.
In addition, the Nomination Committee proposes that all Board members would be entitled to a compensation of EUR 1,000 per attended Board committee meeting and that the member of the Board elected in the position of Chairman of the Audit Committee would receive an additional compensation of EUR 5,000 per year. Reasonable travel expenses will be refunded in accordance with an invoice.
The charter of the Nomination Committee
The Nomination Committee proposes to the Annual General Meeting that the charter of the Nomination Committee remains unchanged.
More information on the Shareholders' Nomination Committee's proposed members of the Board of Directors and its full proposal on the remuneration will be made available on company's website. The Nomination Committee's proposals will be included in the invitation to the Annual General Meeting.
The Shareholders' Nomination Committee of Cramo Plc is chaired by Mikael Moll, Partner, Zeres Capital. The members of the Nomination Committee are Ari Autio, Member of the Board of Directors of foundation, Rakennusmestarien säätiö, Matti Rusanen, Head of Equity Investments and Funds, Ilmarinen Mutual Pension Insurance Company and Helene Biström, Chairman of the Board of Directors, Cramo Plc.
CRAMO PLC
Helene Biström
Chairman of the Board of Directors
Further information:
Helene Biström, Chairman of the Board of Directors, tel: +46 70 212 66 31
Mikael Moll, Chairman of the Shareholders' Nomination Committee, tel: +46 70 293 01 31
Distribution:
Nasdaq Helsinki Ltd.
Major media
www.cramo.com
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in fifteen countries with 330 depots. With a group staff around 2.500, Cramo's consolidated sales in 2014 was EUR 652 million. Cramo shares are listed on the Nasdaq Helsinki Ltd.