Stock exchange release
Outokumpu - Proposals of the Shareholders' Nomination Board to the Annual General Meeting 2022
The Shareholders' Nomination Board of
Number and composition of the Board of Directors
The Shareholders' Nomination Board proposes that the Board of Directors would consist of eight (8) members and that of the current members of the Board of Directors
The members of the Board of Directors proposed to be re-elected are independent of the company and its major shareholders. The new proposed Board member, Petter Söderström, is independent of the company but not of one of its major shareholders,
The Nomination Board has considered the composition of the Board of Directors as to its overall structure as well as the individual members' versatile and mutually complementary professional expertise and experience. The Nomination Board therefore proposes that the Board of Directors is elected as a whole, not each Board member individually.
Remuneration of the Board of Directors
The Shareholders' Nomination Board proposes that the annual remuneration of the Board of Directors would be increased as follows:
- Chairman:
EUR 169,000 (2021:EUR 163,000 ) -
Vice Chairman and the Chairman of the Audit Committee:
EUR 93,500 (2021:EUR 91,600 ) -
Other members of the Board of Directors:
EUR 72,500 (2021:EUR 71,100 )
40% of the annual remuneration would be paid in the Company's own shares using treasury shares or shares to be purchased from the market at a price formed in public trading and in accordance with the applicable insider regulations. If a Board member, on the date of the Annual General Meeting, owns shares of the Company, which based on the closing price of that day represent a value exceeding the annual remuneration, he or she can opt to receive the remuneration in cash.
The Shareholders' Nomination Board proposes that the meeting fees, which would be paid also for the Board Committee meetings, would be kept at the same level as during the previous term:
The Shareholders' Nomination Board comprised Antti Mäkinen, Managing Director at
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 400 719 669
Media: Päivi Allenius, VP - Communications, tel. +358 40 753 7374
Outokumpu Oyj
Outokumpu is the global leader in stainless steel. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization's basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs some 9,500 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com
https://news.cision.com/outokumpu-oyj/r/outokumpu---proposals-of-the-shareholders--nomination-board-to-the-annual-general-meeting-2022,c3464856
https://mb.cision.com/Public/18751/3464856/b036a74a16f2991c.pdf
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