Tikkurila Nomination Board's proposals for the members of the Board of Directors and their remuneration
(Thomson Reuters ONE Via Acquire Media NewsEdge)
Stock Exchange Release
January 21, 2014 at 9:15 a.m. (CET+1)
The Nomination Board of Tikkurila proposes to the Annual General Meeting, which
is planned to be held on March 25, 2014, that the number of Board members would
remain at seven and that all present members Eeva Ahdekivi, Harri Kerminen,
Riitta Mynttinen, Jari Paasikivi, Pia Rudengren, Aleksey Vlasov and Petteri
Walldén would be re-elected.
Nomination Board proposes to the Annual General Meeting that the remuneration of
the members of the Board of Directors will stay at the current level with the
exception that the annual remuneration payable to the Chairman of the Audit
Committee would be the same as payable to the Vice Chairman. The annual
remuneration to the members of the Board of Directors would be as follows: EUR
57,000 for the Chairman, EUR 37,000 for the Vice Chairman and the Chairman of
the Audit Committee and EUR 31,000 for other members of the Board of Directors.
Approximately 40 percent of the annual remuneration would be paid in Tikkurila
Oyj's shares acquired from the market and the rest in cash. The shares would be
acquired directly on behalf of the Board members within two weeks from the
release of the interim report for January 1-March 31, 2014.
Furthermore, a meeting fee for each meeting of the Board and its Committees
(excluding decisions without a meeting) would be paid to the members of the
Board of Directors as follows: EUR 600 for meetings held in the home state of a
member and EUR 1,200 for meetings held outside the home state of a member. If a
member participates in a meeting via telephone or video connection the
remuneration would be EUR 600. Travel expenses would be paid according to the
travel policy of the company.
The members of the Tikkurila Nomination Board are Pekka Paasikivi, Chairman of
the Board of Directors of Oras Invest Oy; Timo Ritakallio, Deputy CEO of
Ilmarinen Mutual Pension Insurance Company; and Risto Murto, President and CEO
of Varma Mutual Pension Insurance Company. The fourth member of the Nomination
Board is Jari Paasikivi, the Chairman of the Board of Directors of Tikkurila
Oyj, who acts as an expert member.
Erkki Järvinen, President and CEO
For further information, please contact:
Antti Kiuru, Tikkurila Oyj, Group Vice President, Legal, mobile
+358 400 686 488, email@example.com
Pekka Paasikivi, Chairman of the Tikkurila Nomination Board, mobile
+358 50 501 0666
For 150 years already, Tikkurila has provided consumers and professionals with
user-friendly and sustainable solutions for surface protection and decoration.
Tikkurila wants to be the leading paint company in the Nordic area as well as in
Russia and other selected Eastern European countries. - Tikkurila inspires you
to color your life.
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Source: Tikkurila Oyj via GlobeNewswire
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