Stock exchange release

Proposals by the Fortum's Shareholders' Nomination Board to the Annual General Meeting 2014

30 January 2014, 8:00 EET


Fortum's Shareholders' Nomination Board has forwarded to Fortum's Board of Directors its proposals to the Annual General Meeting 2014. The Shareholders' Nomination Board will propose to the Annual General Meeting that the Board consists of eight (8) members and that the following persons be elected to the Board of Directors for a term ending at the end of the Annual General Meeting 2015:

To be re-elected:
Ms Sari Baldauf as Chairman
Mr Kim Ignatius as Deputy Chairman
Ms Minoo Akhtarzand as member
Mr Heinz-Werner Binzel as member
Ms Ilona Ervasti-Vaintola as member and
Mr Christian Ramm-Schmidt as member.

To be elected:
Mr Petteri Taalas as member and
Mr Jyrki Talvitie as member.

Further, the Shareholders' Nomination Board will propose to the Annual General Meeting 2014 that the fees to be paid to the members of Board remain unchanged compared to 2013 and are for 2014 as follows:

Chairman: EUR 75,000/year
Deputy Chairman: EUR 57,000/year
Members: EUR 40,000/year
The Chairman of the Audit and Risk Committee, if he/she is not simultaneously acting as Chairman or Deputy Chairman of the Board: EUR 57,000/year

In addition, for each Board and Board Committee meeting a fee of EUR 600 is proposed. For Board members living outside Finland in Europe, the fee for each meeting is proposed to be doubled and for Board members living outside Europe, the fee for each meeting is proposed to be tripled.

The members in the Shareholders' Nomination Board are: Eero Heliövaara, Director General of the Prime Minister's Office's Ownership Steering Department (chairman), Harri Sailas, President and CEO of Ilmarinen Mutual Pension Insurance Company, Liisa Hyssälä, Director General of Kela and Sari Baldauf, Chairman of Fortum Corporation's Board of Directors.

Fortum Corporation
Helena Aatinen
Senior Vice President, Corporate Communications

Further information:
Eero Heliövaara, Chairman of the Shareholders' Nomination Board, tel. +358 295 160 150

Key media

Biographical details of the new proposed Board members:

Born 1961

PhD in Meteorology, University of Helsinki

Main occupation:
Director General of the Finnish Meteorological Institute, 2002-2005, 2007-

Primary work experience:
Director, World Meteorological Organization, 2005-2007
Research professor, Finnish Meteorological Institute, remote sensing (satellites), 2000-2002
Head of research/senior scientist, Finnish Meteorological Institute, 1986-1999

Key positions of trust:
Member of Executive Council, World Meteorological Organisation
Chairman of EUMETSAT Council (European Organisation for the Exploitation of Meteorological Satellites)
Delegate for Finland to the Intergovernmental Panel on Climate Change (IPCC)
Member of Stakeholders' Advisory Council, Fortum Corporation

Petteri Taalas does not own Fortum Corporation's shares.

Born 1966

Executive MBA, London Business School
Master of Law, University of Helsinki

Main occupation:
VTB Bank, Moscow, Senior Vice President, 2010-

Primary work experience:
East Capital, Moscow, Chief Representative, Senior Advisor, 2005-2010
URALSIB Financial Corporation, Moscow, Head of International Business, Chief Managing Director, 2003-2005
BNP-Paribas, Securities Services, Paris, Senior Vice President, 2003
The Bank of New York, London, Vice President, 1997-2003

Key positions of trust:

Jyrki Talvitie does not own Fortum Corporation's shares.


Fortum’s purpose is to create energy that improves life for present and futuregenerations. We provide sustainable solutions that fulfil the needs for low emissions, resource efficiency and energy security, and deliver excellent value to our shareholders. Our activities cover the generation, distribution and sales of electricity and heat as well as related expert services.

Fortum’s operations focus on the Nordic countries, Russia, Poland and the Baltic countries. In the future, the integrating European and fast-growing Asian energy markets provide additional growth opportunities. In 2012, Fortum’s sales totalled EUR 6.2 billion and comparable operating profit was EUR 1.7 billion. We employ approximately 10,400 people. Fortum’s shares are quoted on NASDAQ OMX Helsinki.

Additional information: