Metso Outotec Shareholders' Nomination Board Composition Announced
Metso Outotec has finalized the composition of its Shareholders' Nomination Board, with representatives from the largest shareholders appointed. The board will propose changes to the company's board and remuneration.
Helsinki – Metso Outotec has announced the composition of its Shareholders' Nomination Board, determined based on the share register as of July 1, 2020. The board includes representatives from the four largest shareholders and an expert member.
The largest registered shareholders were Solidium, holding 14.9% of shares and votes, followed by Cevian Capital Partners (8.5%), Ilmarinen Mutual Pension Insurance Company (2.7%), and Varma Mutual Pension Insurance Company (2.6%). Solidium nominated Investment Director Annareetta Lumme-Timonen, Cevian Capital Partners nominated Partner Niko Pakalén, and Ilmarinen appointed Deputy CEO Mikko Mursula.
Mikael Lilius, Chair of Metso Outotec's Board of Directors, will serve as the expert member for the Nomination Board. The board is tasked with preparing proposals regarding the composition and remuneration of the Metso Outotec Board of Directors. These proposals are to be submitted to the Board by January 31, 2021, at the latest.
The establishment and composition of the Shareholders' Nomination Board are part of Metso Outotec's corporate governance practices. Its function is to ensure a structured process for identifying and proposing board candidates and remuneration policies, aligning with the company's long-term strategy and shareholder interests.