Uponor Corporation Investor information 29 April 2009
Uponor re-establishes Board committees
Uponor Corporation's Board of Directors today made a decision to re-establish
its two committees, i.e. the audit committee and the nomination committee, in
alignment with a similar decision made in December 2008.
Both committees have the same charters as earlier.
The audit committee comprises Jari Paasikivi, Aimo Rajahalme (chairman) and
Jorma Eloranta.
The nomination committee will be appointed later. Uponor will deviate from the
Finnish Corporate Governance Code recommendation by requesting the three
largest shareholders, as per 31 July 2009, each appoint one member to the
nomination committee. The members shall appoint the chairman from amongst
themselves. In addition, the Board appointed its Chairman of the Board as an
expert member of the nomination committee.
Taking the company's ownership structure into account, the Board's view is that
a model in which the largest shareholders nominate the members of the
nomination committee will best serve the interests of the shareholders as well
as the goal of transparency.
The Board further resolved that it will continue to fulfil the duties of the
remuneration committee itself, thus no separate remuneration committee will be
established.
Details of the Board and its committees can be found under www.uponor.com >
Investors > Administration.
Tarmo Anttila
Vice President, Communications
Tel + 358 20 129 2852
DISTRIBUTION:
NASDAQ OMX Helsinki
Media
www.uponor.com
Uponor is a leading supplier of plumbing and heating systems for the
residential and commercial building markets across Europe and North America and
a market leader in municipal infrastructure pipe systems in the Nordic
countries. Uponor's key applications include indoor climate and tap water
systems. The Group employs ca 3,800 persons in 27 countries. In 2008, Uponor's
net sales totalled 950 million euros. Uponor Corporation is listed on the
NASDAQ OMX Helsinki Ltd., Finland. http://www.uponor.com