Home North Pole Economy Proposals of the Shareholder Nomination Board to the 2021 Annual General Meeting of Stora Enso Oyj

Proposals of the Shareholder Nomination Board to the 2021 Annual General Meeting of Stora Enso Oyj

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Helsinki, Finland, December 9, 2020 / PRNewswire / – The Shareholder Nominating Board, established by the Annual General Meeting (AGM) of Stora Enso, will propose to the AGM to be held on March 19, 2021 that the Board of Directors of the Company will be composed of nine (9) members.

The Shareholder Nomination Board proposes that current members of the Board of Directors, Hokan Buskhe, Elisabeth fleuriot, Hock Goh, Mikko Helander, Christiane Kuehne, Antti Mäkinen and Richard nilsson be re-elected as members of the Board of Directors until the end of the next AGM and that Helen Hedblom and Hans Sohlström be elected new members of the Board of Directors for the same term of office.

The Shareholder Nomination Board proposes that Antti Mäkinen be elected Chairman and Håkan Buskhe Vice-Chairman 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 Chairman for more than three years, accomplished important work, drawing on his vast experience in leading the work of the Board and recruiting the current President and CEO. Drawing on his leadership, experience and wisdom, Hans Stråberg has been a valued member of the Board of Directors for 12 years, with more than three years as Vice-Chairman. Stora Enso has a promising strategy in place and the nomination committee is pleased to nominate Antti Mäkinen as a candidate for the new chairman of the board. In addition, we are certain that the new Board members proposed, Helen Hedblom and Hans Sohlström, will bring to the Board skills and experiences which will be very important in the next phase of the Company’s development as a leader in the field of renewable materials ”, states Marcus Wallenberg, Chairman of the Shareholders Nomination Board.

“The board of directors of Stora Enso recently approved an updated strategy for the company. It was prepared under the direction of our President and CEO. Annica bresky, who started in his post a year ago. Stora Enso has a competent CEO and management team. The Group also has a good strategy based on sustainability and long-term work to replace materials of fossil origin with renewable alternatives. The General Assembly of spring 2021 is therefore a natural moment for me to transfer the presidency of the Board of Directors to my successor who will be appointed during this assembly ”, declares Jorma Eloranta, the chairman of the board of directors.

Helen Hedblom, M.Sc. (Materials Technology), born in 1973, Swedish national, has a solid experience in industrial research and development. She has been President and CEO of Epiroc since March 2020. Before taking up her current position, she was Senior Executive Vice President Mines and Infrastructure at Epiroc. She has worked for Atlas Copco in various senior management and research and development roles, and since 2017 as President of Atlas Copco’s Mining and Rock Excavation Technical business area. She is a member of the Board of Directors of IPCO AB. It is independent from the company and its shareholders. Currently, Hedblom does not own any Stora Enso shares.

Hans Sohlström, M.Sc. (Tech.), M.Sc. (Econ.), Born 1964, citizen of Finland, has extensive experience in the forest industry and various managerial positions. He has been President and CEO of Ahlström-Munksjö Oyj since 2018. Prior to his current role, he was President and CEO of Ahlström Capital (2016-2018) and Rettig Group Oy (2012-2016). Previously, he was a member of the management team of the UPM-Kymmene Corporation 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 management positions in various divisions of UPM. He is a member of the Advisory Board of Nordea Bank Finland and member of the board of the Finnish International Chamber of Commerce. It is independent of the Company and its shareholders. Currently, Sohlström does not own any Stora Enso shares.

The Shareholder Nomination Board proposes to the General Meeting that the annual compensation of the Chairman, the Vice-Chairman and the members of the Board of Directors be maintained at the 2020 level and paid as follows:

Board of directors

Chair

197,000 euros

Vice-president

112,000 euros

Members

76,000 euros

The Shareholder Nomination Board also proposes that the annual remuneration of the members of the Board of Directors be paid in shares of the Company and in cash so that 40% be paid in Stora Enso R shares to be purchased on the market on behalf of the members of the Advice at a fixed price in public commerce, and the rest in cash. The shares will be purchased within two weeks of the publication of the interim report for the period January 1, 2021 to March 31, 2021 or as soon as possible in accordance with applicable legislation. The Company will pay all costs and transfer duties related to the purchase of Company shares.

The Shareholder Nomination Board also proposes that the annual compensation of the members of the Finance and Audit Committee, the Compensation Committee and the Sustainable Development and Ethics Committee be maintained at the 2020 level and paid as follows:

Finance and audit committee

Chair

21,200 euros

Members

14,800 euros

Compensation Committee

Chair

10,600 euros

Members

6,400 euros

Sustainable Development and Ethics Committee

Chair

10,600 euros

Members

6,400 euros

In 2020, the Shareholders’ Nomination Board was made up of four members: Jorma Eloranta (Chairman of the Board), Hans Stråberg (Vice-Chairman of the Board) and two other members appointed by the two main shareholders, namely Harri Sailas (Solidium Oy) and Marcus Wallenberg (FAM AB). Marcus Wallenberg was elected Chairman of the Shareholders Nomination Board.

The main tasks of the Shareholder Nomination Board were to prepare the proposals for the 2021 AGM regarding the members of the Board and their remuneration. The Shareholder Nomination Board met three (3) times during its 2020 work period. Each member of the Shareholder Nomination Board attended all meetings.

For more information, please contact:
Ulrika Lilja
Executive Vice President of Communications
Phone. +46 72 221 9228

Investor requests:
Ulla Paajanen
Senior Vice President, Investor Relations
Phone. +358 40 763 8767

Part of the bioeconomy, Stora Enso is one of the world’s leading providers of renewable solutions in the fields of packaging, biomaterials, wood constructions and paper. We believe that anything made from fossil materials today can be made from a tree tomorrow. Stora Enso has some 25,000 employees in more than 30 countries. Our sales in 2019 were € 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 on the United States like ADR (SEOAY). storaenso.com

CONTACT:

For more information, please contact:
Ulrika Lilja
Executive Vice President of Communications
Phone. +46 72 221 9228

Investor requests:
Ulla Paajanen
Senior Vice President, Investor Relations
Phone. +358 40 763 8767

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/stora-enso-oyj/r/proposals-of-the-shareholders–nomination-board-to-stora-enso-oyj-s-annual-general-meeting-2021,c3251417

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