Glaston Corp.’s nomination board has proposed that the remuneration of its board of directors members remain unchanged.
The nomination board proposed to the annual general meeting, which will be held April 5, that the annual remuneration of board members be as follows: chairman of the board EUR 40,000 ($43,498), deputy chairman of the board EUR 30,000 ($32,623.50) and the other members of the board EUR 20,000 ($21,749). It also proposed that the meeting fees for the chairman of the board be EUR 800 ($869.96) and EUR 500 ($548.73) for other members, if the member attends. In addition, it is proposed that each member be compensated for direct expenses arising from their work for the board of directors. It was decided that the company will continue to arrange voluntary pension insurance for members of the board based on the above remuneration.
According to Glaston, the nomination board has had differing opinions on the number of board of directors members and on the board’s composition for the term of office that expires at the end of the 2017 annual general meeting. The nomination board has 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.
The nomination board consists of the representatives of the four largest shareholders and the chairman of the board of Glaston Corp. In accordance with the ownership situation on September 1, 2015, the nomination board 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.