The Nomination Board, established by Glaston Corporation’s Annual General Meeting, proposes to the Annual General Meeting to be held on 5 April 2016 that the remuneration of the Members of the Board of Directors remain unchanged and that accordingly the annual remuneration of the Members of the Board of Directors be as follows: Chairman of the Board EUR 40,000, Deputy Chairman of the Board EUR 30,000 and the other Members of the Board EUR 20,000, and that the meeting fees for each meeting of the Board of Directors that a Member of the Board has attended be for the Chairman of the Board EUR 800 and for the other Members of the Board EUR 500.
In addition, it is proposed that each Member of the Board be compensated for direct expenses arising from their work for the Board of Directors. Furthermore, it was decided that the company will continue to arrange voluntary pension insurance for Members of the Board based on the above remuneration.
Composition of the Board of Directors
The Nomination Board has had differing opinions on the number of members of the Board of Directors and on the composition of the Board of Directors for the term of office that expires at the end of the 2017 Annual General Meeting. The Nomination Board has therefore decided not to submit a proposal on the number of members and on the composition of the Board of Directors to the Annual General Meeting.
Nomination Board
The Nomination Board consists of the representatives of the four largest shareholders and also, as an expert member, the Chairman of the Board of Glaston Corporation. In accordance with the ownership situation on 1 September 2015, the Nomination Board of Glaston Corporation consists of: Ari Saarenmaa (Oy G.W.Sohlberg Ab), Stefan Björkman (Etera Mutual Pension Insurance Company), Jeppe Lahtinen (Hymy Lahtinen Oy), Mikko Koivusalo (Varma Mutual Pension Insurance Company) and Andreas Tallberg (advisory member). The Nomination Board made its proposal on the remuneration of the Members of the Board of Directors unanimously. Andreas Tallberg did not participate in decision-making relating to the Nomination Board’s proposal to the Annual General Meeting.