HELSINKI, Finland, Dec. 9, 2020 /PRNewswire/ -- The Shareholders'
Nomination Board, established by Stora Enso's Annual General
Meeting (AGM), will propose to the AGM to be held on 19 March 2021 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, Håkan Buskhe,
Elisabeth Fleuriot, Hock Goh,
Mikko Helander, Christiane Kuehne, Antti Mäkinen and
Richard Nilsson be re-elected
members of the Board of Directors until the end of the following
AGM and that Helena Hedblom
and Hans Sohlström be elected new members of the Board
of Directors for the same term of office.
The Shareholders' Nomination Board proposes that Antti Mäkinen
be elected Chair and Håkan Buskhe be elected Vice Chair of the
Board of Directors.
Jorma Eloranta
and Hans Stråberg have announced that they are not
available for re-election to the Board of Directors.
"I want to thank Jorma Eloranta
and Hans Stråberg for their significant contribution to the
development of Stora Enso over many years. Jorma Eloranta has, as Chair for more than three
years, done an important job, using his extensive experience in
leading the Board's work and recruiting the current President and
CEO. Based on his leadership, experience and wisdom, Hans Stråberg
has been a valued member of the Board of Directors for the past 12
years, with more than three years as Vice Chair. Stora Enso has a
promising strategy in place, and the Nomination Board is pleased to
propose Antti Mäkinen as a candidate for the new Chair of the
Board. Also, we are certain that the proposed new Board members,
Helena Hedblom and Hans Sohlström,
will bring competences and experiences to the Board that will be
very important in the next phase of the Company's development as a
leader within renewable materials," says Marcus Wallenberg, Chair of the
Shareholders' Nomination Board.
"Stora Enso's Board of Directors recently approved an updated
strategy for the company. It was prepared under the leadership of
our President and CEO Annica Bresky,
who started in her position a year ago. Stora Enso has a competent
CEO and leadership team in place. The Group also has a good
strategy based on sustainability and long-term work to replace
fossil-based materials with renewable alternatives. The Annual
General Meeting in spring 2021 is therefore a natural point for me
to transfer the chairing of the Board to my successor who will be
appointed in that meeting," says Jorma
Eloranta, the Chair of the Board of Directors.
Helena Hedblom, M.Sc. (Material
Technology), born 1973, Swedish citizen, has a strong background in
industrial research and development. She has been the President and
CEO of Epiroc since March 2020. Prior
to her current position, she was Senior Executive Vice President
Mining and Infrastructure at Epiroc. She worked for Atlas Copco in
various General Management and Research and development positions,
and since 2017 as President for Atlas Copco's Mining and Rock
Excavation Technique business area. She is a member of the Board of
Directors of IPCO AB. She is independent of the company and its
shareholders. Currently, Hedblom does not own shares in Stora
Enso.
Hans Sohlström, M.Sc. (Tech.), M.Sc. (Econ.), born 1964, Finnish
citizen, has a strong background in the forest industry and various
leadership positions. He has been President and CEO of
Ahlström-Munksjö Oyj since 2018. Prior to his current position, he
was President and CEO of Ahlström Capital (2016-2018) and of Rettig
Group Oy (2012-2016). Before that, has was a member of UPM-Kymmene
Corporation's Group Executive Team since 2004, responsible for
Marketing (2004-2007), New Businesses and Biofuels (2007-2008), and
Corporate Relations and Development (2008-2012). His professional
experience also includes several managerial positions in various
divisions at UPM. He is a member of the Advisory Council in
Nordea Bank Finland and a member of
the council of International Chamber of Commerce Finland. He is
independent of the Company and its shareholders. Currently,
Sohlström 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 be maintained at the 2020 level and be paid as
follows:
Board of Directors
Chair
|
EUR 197
000
|
Vice Chair
|
EUR 112
000
|
Members
|
EUR 76
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% is 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 of the publication of the
interim report for the period 1 January 2021-31 March 2021 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 further proposes that the
annual remuneration for the members of the Financial and Audit
Committee, the Remuneration Committee and the Sustainability and
Ethics Committee be maintained at the 2020 level and be paid as
follows:
Financial and Audit Committee
Chair
|
EUR
21 200
|
Members
|
EUR
14 800
|
Remuneration Committee
Chair
|
EUR
10 600
|
Members
|
EUR
6 400
|
Sustainability and Ethics Committee
Chair
|
EUR
10 600
|
Members
|
EUR
6 400
|
In 2020, the Shareholders' Nomination Board 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 2021 concerning Board members and
their remuneration. The Shareholders' Nomination Board convened
three (3) times during its 2020 working period. Each member of the
Shareholders' Nomination Board attended all the meetings.
For further information, please contact:
Ulrika Lilja
EVP Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
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 25 000 employees in over 30 countries. Our
sales in 2019 were EUR 10.1 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
CONTACT:
For further information, please contact:
Ulrika Lilja
EVP Communications
tel. +46 72 221 9228
Investor enquiries:
Ulla Paajanen
SVP, Investor Relations
tel. +358 40 763 8767
This information was brought to you by Cision
http://news.cision.com
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The following files are available for download:
https://news.cision.com/stora-enso-oyj/i/helena-hedblom,c2858751
|
Helena
Hedblom
|
https://news.cision.com/stora-enso-oyj/i/hans-sohlstrom,c2858752
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Hans
Sohlstrom
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