Metso splits in to two business units

In accordance with the proposal, the EGM approved the election of the Chairman, Vice Chairman, and five other members of Valmet’s Board of Directors. Jukka Viinanen was elected Chairman of the Board, Mikael von Frenckell as Vice Chairman, and the following as Board members: Erkki Pehu-Lehtonen, Pia Rudengren, Friederike Helfer, Pekka Lundmark, and Rogério Ziviani. The Board’s term of office will last until Valmet’s next Annual General Meeting (AGM). The directorship in Metso of Jukka Viinanen, Mikael von Frenckell, Erkki Pehu-Lehtonen and Pia Rudengren will end if the completion of the demerger is registered.

The EGM approved the following remuneration for the Board until Valmet’s Annual General Meeting: EUR 25,000 for the Chairman, EUR 15,000 for the Vice Chairman and the Chairman of the Audit Committee, and EUR 12,000 for members.

No remuneration for the above-mentioned term will be paid by Valmet in respect of the directorship in Valmet to those current members of the Board of Metso, who were elected to the Board of Valmet, since the remuneration of the current members of the Board of Metso has already been paid in full for their current term. In addition, a meeting fee of EUR 700 will be paid to members resident in the Nordic countries, EUR 1,400 to members resident elsewhere in Europe, and EUR 2,800 to members resident outside of Europe for each meeting they attend.

Selection of Valmet Corporation’s Auditor and payment of auditor fees

Authorized Public Accountant Ernst & Young Oy was selected as Valmet’s Auditor. The fees payable to the Auditor will be in accordance with the invoice approved by the Audit Committee. The Auditor’s term of office will end at the Annual General Meeting.

Composition and remuneration of Metso’s Board of Directors

In accordance with the proposal, the EGM approved the election of the Chairman, Vice Chairman, and three new members of Metso’s Board. Mikael Lilius was elected Chairman of the Board and Christer Gardell as Vice Chairman. In addition, Ozey K. Horton, Jr. and Eeva Sipilä continue as members, and the following were elected as new members: Wilson Nélio Brumer, Lars Josefsson, and Nina Kopola. The changes in the number of the members and composition of the Board, and in the remuneration paid to them, will come into force as of the registration of the completion of the demerger. The term of office of Board members will last until the end of Metso’s next AGM.

The EGM approved the following remuneration for the Board until Metso’s next AGM: EUR 25,000 for the Chairman, EUR 15,000 for the Vice Chairman and the Chairman of the Audit Committee, and EUR 12,000 for new members. Remuneration already paid for the corresponding part of the current term to the members of the Board who will continue in the Board will be subtracted from this remuneration. The meeting fees payable to Board members will be paid in accordance with the decision taken at Metso’s AGM held on March 28, 2013.