Proposals by the Uponor Nomination Board to the Annual General Meeting 2014
Uponor Corporation Stock Exchange Release 15 January 2014 9.00 EET
Proposals by the Uponor Nomination Board to the Annual General Meeting 2014
The Uponor Nomination Board proposals to the annual general meeting, to be held in Helsinki, Finland on 19 March 2014, are the following:
REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS
The Nomination Board proposes to the general meeting that the yearly remuneration to the members of the Board of Directors shall remain unchanged, except for one change: the remuneration of the chairman of the Audit Committee shall be increased to the same level as that of the Deputy Chairman of the Board.
Presently, the yearly remuneration received by the Chairman of the Board equals €71,000, €49,000 by the Deputy Chairman of the Board, and €44,000 by other members of the Board. Approximately 40% of the remuneration is to be paid by acquiring Uponor Corporation’s shares in public trading and the rest in cash. The travel expenses related to Board meetings are paid according to the company’s travel policy.
In addition to the above, a remuneration per each actual board and committee meeting (excluding decisions without a meeting) is paid, amounting to €600 for meetings held in the home country of the member, €1,200 for meetings held elsewhere in Europe, and €2,400 for meetings held outside of Europe. The remuneration for telephone meetings equals the remuneration for meetings held in the home country of the member.
NUMBER OF BOARD MEMBERS
The Nomination Board proposes that the number of Board members remains at six.
ELECTION OF THE MEMBERS OF THE BOARD OF DIRECTORS
The Nomination Board proposes to the general meeting that Mr Jorma Eloranta, Mr Timo Ihamuotila, Ms Eva Nygren, Mr Jari Rosendal and Mr Rainer S. Simon, currently members of the Board of Directors, be re-elected as members of the Board of Directors and that Ms Annika Paasikivi be elected as a new member of the Board of Directors for the following term of office.
The current Chairman of the Board, Jari Paasikivi is not available for re-election.
Ms Annika Paasikivi (b. 1975) is a Finnish citizen with a B.A. in International Business (EBS London) and M.Sc. in Global Politics (University of Southampton). She is employed as Chief Operating Officer at Oras Invest Ltd. in Helsinki, Finland and holds a board membership in Oras Oy since 2012 and a supervisory board membership in the German company Hansa Metallwerke AG since 2013.
Uponor’s Nomination Board consists of the following persons: Pekka Paasikivi, chairman (representing Oras Invest), Risto Murto (Varma), Antti Kasi (Nordea Funds) and Jari Paasikivi (expert member).
For more information, please contact:
Pekka Paasikivi, Chairman of the Nomination Board
Tel: +358 50 501 0666
Reetta Härkki, General Counsel, Uponor Corporation
Tel: +358 20 129 2835
Uponor Corporation
Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852
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www.uponor.com
Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. On 1 July 2013, Uponor and KWH Group merged their infrastructure businesses into a jointly owned company, Uponor Infra, which is a leading supplier of infrastructure pipe systems in Northern Europe, with wide operations internationally. In 2012, the Uponor Group employed approx. 3,000 persons in 30 countries and its net sales exceeded €810 million. Uponor Corporation is listed on NASDAQ OMX Helsinki in Finland. http://www.uponor.com