UPONOR

Proposals by Uponor Nomination Board to the Annual General Meeting 2017

Uponor Corporation          Stock exchange release          16 January 2017     9.15 EET

 

Proposals by Uponor Nomination Board to the Annual General Meeting 2017

The Uponor Nomination Board proposals to the Annual General Meeting, to be held in Helsinki, Finland on 20 March 2017, 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.

Presently, the yearly remuneration is as follows:

  • Chair of the Board - €88,000
  • Deputy Chair of the Board - €49,000
  • Chair of the Audit Committee - €49,000
  • Other members of the Board - €44,000

Approximately 40% of the remuneration is paid by acquiring Uponor Corporation 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 at the country of residence of the member, €1,200 for meetings held elsewhere on the same continent, and €2,400 for meetings held on another continent. Remuneration for telephone meetings equals the remuneration for meetings held in the country of residence of the member.

The Nomination Board also proposes that, following established company policy, the company take out insurance under the Employees Pensions Act for Board members acting as persons of trust.

NUMBER OF BOARD MEMBERS

The Nomination Board proposes that the number of Board members remains at six.

ELECTION OF THE MEMBERS AND CHAIR OF THE BOARD OF DIRECTORS

The Nomination Board proposes to the General Meeting that Mr Jorma Eloranta, Mr Markus Lengauer, Ms Eva Nygren, Ms Annika Paasikivi and Mr Jari Rosendal, currently members of the Board of Directors, be re-elected as members of the Board of Directors. Member of the Board since 2013, Mr Timo Ihamuotila has notified that he is not available for re-election due to his new employment, therefore the Nomination Board proposes that Ms Pia Aaltonen-Forsell be elected as sixth member.

M.Soc.Sc. Pia Aaltonen-Forsell (b. 1974) is employed by Munksjö Corporation, a listed company, as Chief Financial Officer and member of the management team.

Further, the Nomination Board proposes that Jorma Eloranta be elected Chair of the Board of Directors.

Uponor’s Nomination Board consists of the following persons: Jari Paasikivi, chairman (representing Oras Invest), Reima Rytsölä (Varma), Antti Kasi (Nordea Funds) and Jorma Eloranta (expert member).

 

For more information, please contact:

Jari Paasikivi, Chairman of the Nomination Board
Tel: +358 500 530 375

Reetta Härkki, General Counsel, Uponor Corporation
Tel: +358 20 129 2835

 

Uponor Corporation

 

Tarmo Anttila
Vice President, Communications
Tel. +358(0)20 129 2852

 

DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponor.com

  

Uponor is a leading international systems and solutions provider for safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure. The company serves a variety of building markets including residential, commercial, industrial and civil engineering. Uponor employs about 3,700 employees in 30 countries, mainly in Europe and North America. In 2015, Uponor's net sales totalled €1,050 million. Uponor is based in Finland and listed on Nasdaq Helsinki. www.uponor.com