Proposal of the shareholders’ Nomination Board for the composition and remuneration of Stockmann’s Board of Directors
STOCKMANN plc, Stock Exchange Release 31.1.2018 at 14:30 EET
Stockmann’s shareholders’ Nomination Board has in its meeting decided to propose the following to the Annual General Meeting, which will be held on 22 March 2018:
The Nomination Board proposes that the number of members of the Board of Directors remain eight.
The shareholders’ Nomination Board proposes that the present members of the Board of Directors, Kaj-Gustaf Bergh, Jukka Hienonen, Leena Niemistö, Michael Rosenlew and Dag Wallgren, all having given their consents, be re-elected for the term of office continuing until the end of the next Annual General Meeting.
Board members Susanne Najafi and Per Sjödell have informed that they will no longer be available as members of the company's Board of Directors. The Nomination Board proposes that Eva Hamilton and Tracy Stone with their consent, be elected new Board members for the term of office stated above. Eva Hamilton (b. 1954, Swedish citizen) is a professional Board member and has earlier, among other positions, worked as the CEO for Sveriges Television (SVT). Tracy Stone (b. 1962, British citizen), works currently as the CEO for Polly King & Co. She has earlier, among other positions, worked as the CEO for Gant UK. Hamilton and Stone have been members of Lindex Board since 2014.
The Nomination Board proposes the Chairman of the Board to be compensated EUR 80 000, the Vice Chairman EUR 50 000, and other members EUR 40 000 as annual remuneration. The annual remuneration wil be paid in company shares and cash, so that company shares will be acquired on behalf of the Board members to a value of 40% of the remuneration and the rest will be paid in cash. The company will cover the costs for the acquiring of the shares and the transfer tax. The shares acquired for the Board Members in 2018 can not be handed over until two years from the date of purchase, or until the person in question has ended, depending on which of the occasions takes place first.
The Nomination Board proposes the Chairman of the Board to be paid EUR 1 100 and each Board member to be paid EUR 600 as a meeting remuneration for each meeting of the Board of Directors. The Chairman of the Audit Committee is proposed to be paid EUR 1 100 and each member to be paid EUR 800 as a meeting remuneration for each meeting of the Audit Committee. The Chairman of the Compensation Committee and each member is proposed to be paid EUR 600 as a meeting remuneration for each meeting of the Compensation Committee.
Additional information on the members proposed by the Stockmann’s shareholders’ Nomination Board can be found on the company’s website www.stockmanngroup.com. The proposals of the Nomination Board will be included in the invitation to the Annual General Meeting.
Magnus Bargum (nominated by Svenska litteratursällskapet i Finland) acts as Chairman of Stockmann’s shareholders’ Nomination Board, and Kaj-Gustaf Bergh (nominated by Föreningen Konstsamfundet r.f.), Ole Johansson (nominated by HC Holding Oy Ab), Leena Niemistö (nominated by Kari Niemistö) and Stockmann’s Chairman of the Board Jukka Hienonen act as members of the Nomination Board.
Further information: Jukka Naulapää, Director, Legal Affairs, tel. +358 9 121 3850 Anna Bjarland, Head of Communications, tel. + 358 9 121 3194