Proposals by Huhtamäki Oyj's Nomination Committee of the Board of Directors to the Annual General Meeting of Shareholders
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 25.3.2011 AT 09:00
The Annual General Meeting of Shareholders of Huhtamäki Oyj will be held on Wednesday, April 20, 2011 at 13.00 in the Finlandia Hall, Congress Wing, Mannerheimintie 13 e, Helsinki.
Composition of the Board of Directors
The Nomination Committee of the Board of Directors proposes that the Board of Directors shall consist of eight (8) members.
The Nomination Committee proposes that to the Board of Directors, until the end of the Annual General Meeting following the election, shall be re-elected Ms. Eija Ailasmaa, Mr. William R. Barker, Mr. George V. Bayly, Mr. Rolf Börjesson, Ms. Siaou-Sze Lien, Mr. Mikael Lilius and Mr. Jukka Suominen.
The current member of the Board of Directors Mr. Anthony J.B. Simon notified the Company that he will not stand for re-election to the Board of Directors.
As a new member of the Board of Directors, the Nomination Committee proposes Ms. Sandra Turner to be elected.
Ms. Sandra Turner (born 1952) has been acting in several positions in Tesco PLC in the United Kingdom and Ireland for 21 years. Her latest position was the Commercial Director of Tesco Ireland Limited between 2003 and 2009. Tesco PLC is a global retail company. Ms. Turner's current key positions of trust are member of the Board of Directors of Northern Foods PLC and Carpetright PLC as well as the School Governor of the Berkhamsted School in the United Kingdom. Ms. Turner holds a Bachelor's Degree (BA) in Marketing.
All the individuals proposed above have given their consent to the election. In addition, all the individuals proposed have notified the Company that in case they will become elected, they will elect Mr. Mikael Lilius as the Chairman of the Board and Mr. Jukka Suominen as the Vice-Chairman of the Board.
Remuneration of the Board of Directors
The Annual General Meeting held on March 24, 2010 confirmed the following annual remuneration for the members of the Board of Directors: for the Chairman EUR 90,000, for the Vice-Chairman EUR 55,000 and for other members EUR 45,000. In addition, a meeting fee of EUR 500 per meeting shall be paid to all members for the Board and Board Committee meetings they attend. Traveling expenses shall be compensated in accordance with the Company policy.
The latest raise of the remuneration for the members of the Board of Directors occurred on April 12, 2007.
The Nomination Committee proposes to the Annual General Meeting that the following annual remuneration for the members of the Board of Directors shall be confirmed: for the Chairman EUR 100,000, for the Vice-Chairman EUR 60,000 and for other members EUR 50,000. In addition, a meeting fee of EUR 600 per meeting shall be paid to all members for the Board and Board Committee meetings they attend. Traveling expenses shall be compensated in accordance with the Company policy. In addition, it is proposed that the Chairman of the Board of Directors shall be granted a mobile phone benefit.
The notice to convene the Annual General Meeting will be published in the Helsingin Sanomat newspaper on March 29, 2011.
HUHTAMÄKI OYJ
Group Communications
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging with 2010 net sales totaling EUR 2 billion. Foodservice and consumer goods markets are served by approximately 12,000 people in 53 manufacturing units and several sales offices in 31 countries. The parent company, Huhtamäki Oyj, has its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX Helsinki Ltd. Additional information is available at www.huhtamaki.com.