Kemira Oyj
Stock exchange release
January 23, 2012 at 5.00 pm (CET+1)
The Nomination Board proposes to the Annual General Meeting of Kemira Oyj that six members (previously seven) be elected to the Board of Directors and that the present members Elizabeth Armstrong, Winnie Fok, Juha Laaksonen, Kerttu Tuomas and Jukka Viinanen be re-elected as members of the Board of Directors and Jari Paasikivi be elected as a new member of the Board of Directors. The Nomination Board proposes that Jukka Viinanen will be elected as a new Chairman of the Board of Directors and that Jari Paasikivi will be elected as a new Vice Chairman. Currently Pekka Paasikivi is the Chairman of the Board of Directors and Jukka Viinanen is the Vice Chairman.
Mr. Jari Paasikivi (b. 1954). M.Sc. (Econ.) is currently working as President and CEO of Oras Invest Ltd. He is currently also the Chairman of the Board of Tikkurila Oyj and Uponor Oyj and a Board member of Oras Oy.
The Nomination Board proposes to the Annual General Meeting that the remuneration paid to the members of the Board of Directors will remain unchanged. The fees would thus be as follows: the Chairman will receive EUR 74,000 per year, the Vice Chairman EUR 45,000 per year and the other members EUR 36,000 per year. A fee payable for each meeting of the Board and its committees would be for the members residing in Finland EUR 600, the members residing in rest of Europe EUR 1,200 and the members residing outside Europe EUR 2,400. Travel expenses are proposed to be paid according to Kemira's travel policy.
In addition, the Nomination Board proposes to the Annual General Meeting that the annual fee be paid as a combination of the company's shares and cash in such a manner that 40% of the annual fee is paid with the company's shares owned by the company or, if this is not possible, shares purchased from the market, and 60% is paid in cash. The shares will be transferred to the members of the Board of Directors and, if necessary, acquired directly on behalf of the members of the Board of Directors within two weeks from the release of Kemira's interim report January 1 - March 31, 2012. The meeting fees are proposed to be paid in cash.
The Nomination Board has consisted of the following representatives: Jari Paasikivi, President and CEO of Oras Invest Oy as the Chairman of the Nomination Board; Kari Järvinen, Managing Director of Solidium Oy; Risto Murto, Executive Vice-President, Varma Mutual Pension Insurance Company and Timo Ritakallio, Deputy CEO, Ilmarinen Mutual Pension Insurance Company as members of the Nomination Board and Pekka Paasikivi, Chairman of Kemira's Board of Directors as an expert member.
For more information, please contact
Jari Paasikivi, Chairman of the Kemira Nomination Board
Tel. +358 500 530 375
Kemira Oyj
Tero Huovinen, Director, Investor Relations
Tel. +358 10 862 1980
Kemira is a global two billion euro water chemistry company that is focused on serving customers in water-intensive industries. The company offers water quality and quantity management that improves customers' energy, water, and raw material efficiency. Kemira's vision is to be a leading water chemistry company.
