HELSINKI, Jan. 15, 2020 /PRNewswire/ -- The Shareholders'
Nomination Board, established by Stora Enso's Annual General
Meeting (AGM), will propose to the AGM to be held on 19 March 2020 that the company's Board of
Directors shall have nine (9) members.
The Shareholders' Nomination Board proposes that of the
current members of the Board of Directors -Jorma Eloranta, Elisabeth Fleuriot, Hock Goh,
Mikko Helander, Christiane Kuehne, Antti Mäkinen,
Richard Nilsson and Hans
Stråberg be re-elected members of the Board of Directors until
the end of the following AGM and that Håkan Buskhe be
elected new member of the Board of Directors for the same term of
office.
The Shareholders' Nomination Board proposes that Jorma Eloranta be elected Chairman and Hans
Stråberg be elected Vice Chairman of the Board of Directors.
Göran Sandberg has announced that he is not available for
re-election to the Board of Directors.
"Göran Sandberg has during his tenure since 2017 been a valuable
member of the Stora Enso Board of Directors. Göran has since his
election acted as member of the Sustainability and Ethics Committee
and contributed to its work. I would like to thank Göran warmly for
all his valuable work for Stora Enso," says Jorma Eloranta, Stora Enso's Board Chair and
member of the Shareholders' Nomination Board.
Håkan Buskhe, M.Sc. Eng., Licentiate of Engineering, born 1963,
Swedish citizen, has a strong industrial operative background and
management experience having acted as CEO of several leading
Swedish companies and as of 12 February
2020 as CEO of FAM AB. Prior to his current position Buskhe
has acted as CEO and President of SAAB AB (2010-2019) and E.ON
Nordic (2008-2010). Previous working experience further includes
executive positions in E.ON Sweden
(2006-2008), acting as CEO of the logistics company Schenker North (2001-2006) as well as several
positions in Storel AB (1998-2001), Carlsberg A/S (1994-1998) and
Scansped AB (1988-1994). Buskhe has further held positions as Board
member in several venture capital companies. He is independent of
the company but not of its significant shareholders due to his
coming position as CEO of FAM AB. Buskhe currently does not own
shares in Stora Enso.
The Shareholders' Nomination Board proposes to the AGM that the
annual remuneration for the Chair, Vice Chair and members of the
Board of Directors by increased by approximately 2.5-3 percent and
be paid as follows:
Board of Directors
Chair
|
EUR 197 000 (2019:
192 000)
|
Vice Chair
|
EUR 112 000 (2019:
109 000)
|
Members
|
EUR 76 000 (2019:
74 000)
|
The Shareholders' Nomination Board also proposes that the annual
remuneration for the members of the Board of Directors, be paid in
Company shares and cash so that 40% will be paid in Stora Enso R
shares to be purchased on the Board members' behalf from the market
at a price determined in public trading, and the rest in cash. The
shares will be purchased within two weeks from the publication of
the interim report for the period 1 January 2020-31 March 2020 or
as soon as possible in accordance with applicable legislation. The
Company will pay any costs and transfer tax related to the purchase
of Company shares.
The Shareholders' Nomination Board proposes further that the
annual remuneration for the members of the Financial and Audit
Committee, the Remuneration Committee and the Sustainability and
Ethics Committee be increased by approximately 2.5-3 percent and be
paid as follows:
Financial and Audit Committee
Chair
|
EUR 21 200
(2019: 20 600)
|
Members
|
EUR 14 800 (2019:
14 400)
|
Remuneration Committee
Chair
|
EUR 10 600
(2019: 10 300)
|
Members
|
EUR 6 400 (2019:
6 200)
|
Sustainability and Ethics Committee
Chair
|
EUR 10 600
(2019: 10 300)
|
Members
|
EUR 6 400 (2019:
6 200)
|
The Shareholders' Nomination Board in 2019-2020 comprised four
members: Jorma Eloranta (Chair of
the Board), Hans Stråberg (Vice Chair of the Board) and two other
members appointed by the two largest shareholders, namely
Harri Sailas (Solidium Oy)
and Marcus Wallenberg (FAM
AB). Marcus Wallenberg was elected
Chair of the Shareholders' Nomination Board.
The main tasks of the Shareholders' Nomination Board were to
prepare the proposals for the AGM 2020 concerning Board members and
their remuneration. The Shareholders' Nomination Board during its
working period 2019-2020 convened five (5) times. Each member of
the Shareholders' Nomination Board attended all the meetings.
Part of the bioeconomy, Stora Enso is a leading global provider
of renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 26 000 employees in over 30 countries. Our
sales in 2018 were EUR 10.5 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and
Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded
in the USA as ADRs (SEOAY).
storaenso.com
For further information, please contact:
Ulrika Lilja
EVP Communications
tel. +46-72-221-9228
Investor enquiries:
Ulla
Paajanen
SVP
Investor Relationstel.
+358-40-763-8767
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/stora-enso-oyj/r/proposals-of-shareholders--nomination-board-to-stora-enso-oyj-s-annual-general-meeting-2020,c3009051
The following files are available for download:
https://news.cision.com/stora-enso-oyj/i/hbuskhe,c2736350
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HBuskhe
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