Efore reports on board proposals of shareholders' nomination board prior to AGM.
NORDIC BUSINESS REPORT-January 17, 2019-Efore reports on board proposals of shareholders' nomination board prior to AGM
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Efore Oyj (HEL:EFO1V), a developer and producer of demanding power products, announced on Wednesday that its shareholders' nomination board has prepared proposals on the composition of the board of directors and the remuneration of the board of directors to the Annual General Meeting to be held on 11 April 2019.
The nomination board has proposed to the AGM that four members be elected to the board of directors. Tuomo Lahdesmaki, Matti Miettunen, Taru Narvanmaa and Antti Sivula are proposed to be re-elected as members of the board for a term starting at the end the General Meeting at which he or she has been elected and expires at the closing of the AGM 2020.
Reportedly, Marjo Miettinen, who has been a member of the board of Efore since 2013, has announced that she is not available for re-election to the board due to time management related reasons.
According to the company, all board member candidates are considered to be independent of the company and its major shareholders.
Also, the nomination board has proposed to the AGM that the remuneration paid to the members of the board of directors and the chairman of the board of directors be increased so that the fee of the chairman would be EUR3,750 per month, as compared with EUR3,500 in 2018, and the fee of other board members is proposed at EUR2,000 per month, as compared with EUR1,750 in 2018.
In addition, the nomination board proposes that the board member functioning as chairman of the audit committee be paid EUR750 per month in the upcoming term, as compared with no separate fee in 2018. Also, proposed is that travel expenses are payable against receipt.
These proposals of the nomination board will be included in the notice to the Annual General Meeting.
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