Stock exchange release

Proposals by the Fortum's Shareholders' Nomination Board to the Annual General Meeting 2015

22 January 2015, 13:36 EET


Fortum's Shareholders' Nomination Board has forwarded to Fortum's Board of Directors its proposals to the Annual General Meeting 2015. 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 2016:

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
Mr Petteri Taalas as member and
Mr Jyrki Talvitie as member

To be elected:
Ms Eva Hamilton as member and
Mr Tapio Kuula as member

Fees to Board members:
The Shareholders' Nomination Board will propose that the fees paid for the term to be as follows:
Chairman: EUR 90,000/year
Deputy Chairman: EUR 65,000/year
Members: EUR 45,000/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 65,000/year.

In addition, for each Board and Board Committee meeting a fee of EUR 600 will be proposed. For Board members living outside Finland in Europe, the proposed fee for each meeting will be doubled and for Board members living outside Europe, the proposed fee for each meeting will be tripled. For Board members living in Finland, the proposed fee for each Board and Board Committee meeting will be doubled for meetings held outside Finland and tripled for meetings held outside Europe. For Board and Committee meetings held as a telephone conference the proposed fee will be paid as single to all members. No fee will be paid for decisions made without a separate meeting.

“The Shareholders’ Nomination Board conducted an extensive survey of board fees in Finnish and international listed companies. The survey indicated that Fortum fees are clearly below the general level. The company adjusted its fees payable to the Board of Directors last time in 2013,” says Eero Heliövaara, Chairman of the Shareholder’s Nomination Board.

The Chairman of the Shareholders' Nomination Board is Eero Heliövaara, Director General of the Prime Minister's Office's Ownership Steering Department, and the members are Liisa Hyssälä, Director General of Finnish Social Insurance Institution (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 1954
Nationality: Swedish
Uppsala University, Sweden, 1974
Journalisthögskolan i Stockholm (Stockholm University of Journalism), 1976

Main occupation:
Board professional
Primary work experience:
Sveriges Television (SVT), CEO, 2006 - 2014
Sveriges Television (SVT), Head of SVT Fiction, 2004 - 2006
Sveriges Television (SVT), Director of News and Current Affairs, 2000 - 2004

Key positions of trust:
Radiotjänst, the Swedish licence fee organization, Chairman
Radiohjälpen Foundation, Chairman
Royal Swedish Academy of Engineering Sciences (Kungliga Ingenjörsvetenskapsakademien IVA), Member of Business Executive Council
Nobel Center Committee, Member

Eva Hamilton does not own Fortum Corporation's shares.

Born 1957
Nationality: Finnish
M.Sc. (Electrical engineering), Tampere University of Technology, Finland, 1980
M.Sc. (Econ.), University of Tampere, Finland, 1981
Main occupation:
President and CEO, Fortum Corporation, 2009 - 31 January 2015
Primary work experience:
Senior Vice President, Fortum Corporation, 2005 - 2009
President, Power and Heat Sector, Fortum Corporation, 2000 - 2005
Member of the Management Team of Fortum since 1997
Several managing director positions in utility companies in Finland
Key positions of trust:
Fortum Foundation, Chairman of the Board
Varma Mutual Pension Insurance Company, Chairman of the Supervisory Board
OAO Fortum, Chairman of the Board
East Office of Finnish Industries Oy, Vice Chairman of the Board
Finnish-Russian Chamber of Commerce, Member of the Board
Finnish Fair Corporation, Member of the Supervisory Board
EURELECTRIC, Member of the Board
Northern Dimension Business Council, Co-Chairman

Tapio Kuula owns 168,742 Fortum Corporation's shares


Fortum’s purpose is to create energy that improves life for present and future generations. Catering to the versatile needs of our customers, we generate, distribute and sell electricity and heat, and offer related expert services. Our operations focus on the Nordic and Baltic countries, Russia and Poland. In 2013, Fortum’s sales totalled EUR 6.1 billion and comparable operating profit was EUR 1.6 billion. We employ approximately 8,800 people. Fortum’s shares are traded on the NASDAQ OMX Helsinki.