RAUTE CORPORATION STOCK EXCHANGE RELEASE 18 FEBRUARY 2019 at 9:15 a.m.
APPOINTMENTS COMMITTEE'S PROPOSAL REGARDING COMPOSITION OF RAUTE CORPORATION'S BOARD OF DIRECTORS
Raute Corporation's Appointments Committee has informed that it will propose to the Annual General Meeting convening on 2 April 2019 that the number of the Board members is six. The Appointments Committee proposes that Ms. Laura Raitio, Lic.Tech. (Forest products technology), be elected as Chairman of the Board of Directors, Mr. Mika Mustakallio, M.Sc. (Econ.), be re-elected as Vice Chairman of the Board of Directors and Mr. Joni Bask, M.Sc. (Eng.), Mr. Pekka Suominen, M. Sc. (Econ.), and Mr. Patrick von Essen, M.Sc. (Eng.), be re-elected as members of the Board of Directors. The Appointments Committee also proposes that Mr. Ari Harmaala will be elected as a new member of the Board of Directors. The proposed persons have given their consent to the election. The current Chairman of the Board, Mr. Erkki Pehu-Lehtonen has informed that he is not available for re-election.
Mr. Ari Harmaala, Engineer, Construction technology, born in 1961, who has been proposed as a new member of the Board of Directors, is Senior Vice President, Sales and Customership and Management Team member of Metsä Fibre Oy since 2011. Prior to that he worked for Metso Paper in China 2002–2011, latest as President of Metso Paper (China) Co., Ltd in 2004–2011. Before that he held senior business and sales management positions at Valmet in 1987–2002, for instance in Singapore and Thailand. Mr. Ari Harmaala is Board Member of EPIS, European Pulp Industry Sector since 2016.
The Appointments Committee further proposes that the remunerations to the Board members will be 48,000 euros to the Chairman of the Board and 24,000 euros to the Board members for the term of office.
Raute Corporation’s Appointments Committee consists of Chairman of the Board Mr. Erkki Pehu-Lehtonen, Vice-Chairman Mr. Mika Mustakallio and Board member Mr. Pekka Suominen.
The proposals above will be included in the notice to the Annual General Meeting which will be published later.
Secretary of the Board
Mr. Erkki Pehu-Lehtonen, Chairman of the Board, mobile +358 400 468 084
Nasdaq Helsinki Ltd, main media, www.raute.com
RAUTE IN BRIEF:
Raute is a technology and service company that operates worldwide. Raute’s customers are companies operating in the wood products industry that manufacture veneer, plywood, LVL (Laminated Veneer Lumber) and sawn timber. Its technology offering covers the entire production process for veneer, plywood and LVL and special measurement equipment for sawn timber. As a supplier of mill-scale projects, Raute is a global market leader both in the plywood and LVL industries. Additionally, Raute’s full-service concept includes technology services ranging from spare parts deliveries to regular maintenance and equipment modernizations. Raute’s head office is located in the Nastola area of Lahti, Finland. The company’s other production plants are located in Kajaani, Finland, the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Raute’s net sales in 2018 were EUR 181.0 million. The Group’s headcount at the end of 2018 was 772. More information about the company can be found at www.raute.com.