Stora Enso Oyj : Proposals of Shareholders' Nomination Board to Stora Enso Oyj’s Annual General Meeting 2020

Proposals of Shareholders' Nomination Board to Stora Enso Oyj's Annual General Meeting 2020

STORA ENSO OYJ STOCK EXCHANGE RELEASE 15 January 2020 at 13.00 EET

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.
For further information, please contact:
Ulrika Lilja
EVP Communications
tel. [phone]
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. [phone]
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 (http://www.storaenso.com)

STORA ENSO OYJ

For further information, please contact:
Ulrika Lilja
EVP Communications
tel. [phone]
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. [phone]