Shareholders' proposals to the Annual General Meeting
KESKO CORPORATION STOCK EXCHANGE RELEASE 04.02.2014 AT 9.15 1(2)
Shareholders' proposals to the Annual General Meeting
Kesko Corporation's shareholders jointly representing over 10% of the votes
carried by the company shares have made a proposal to the Annual General Meeting
to be held on 7 April 2014 for the number of Board members, their remuneration
and the reimbursement of their expenses.
Proposal for the number of Board members
Kesko Corporation's shareholders jointly holding over 10% of the votes carried
by the company shares have proposed that the company's Annual General Meeting
resolve that the number of members of the Board be left unchanged at the present
seven (7).
Proposal for the Board members' remuneration and the basis for reimbursement of
their expenses
In addition, the shareholders in question propose that the Board members'
remuneration and the basis for reimbursement of their expenses be left
unchanged. The fees and the basis for reimbursement of expenses are as follows:
- the Board Chair, an annual remuneration of €80,000,
- the Board Deputy Chair, an annual remuneration of €50,000,
- a Board member, an annual remuneration of €37,000,
- a meeting fee of €500/meeting for a Board meeting and its Committee's meeting,
and a meeting fee of €1,000/meeting to a Committee Chair who is not the Chair or
the Deputy Chair of the Board,
- daily allowances are paid and travel expenses are reimbursed to the Board
members in accordance with the general travel rules of Kesko.
The above proposals will be included in the notice of the General Meeting, which
will be published separately.
The Annual General Meetings held on 16 April 2012 and 8 April 2013 resolved the
number of Board members to be seven (7), and the Annual General Meeting Held on
16 April 2012 elected seven (7) Board members for terms of office expiring at
the close of the 2015 Annual General Meeting in accordance with the Articles of
Association. The Board members elected then were Mr Esa Kiiskinen, Mr Ilpo
Kokkila, Mr Tomi Korpisaari, Ms Maarit Näkyvä, Mr Seppo Paatelainen, Mr Toni
Pokela and Ms Virpi Tuunainen.
Further information is available from Senior Vice President, Group General
Counsel Anne Leppälä-Nilsson, tel. +358 105 322 347.
Kesko Corporation
Merja Haverinen
Vice President, Group Communications
DISTRIBUTION
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Main news media
www.kesko.fi
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Source: Kesko Oyj via GlobeNewswire
[HUG#1758939]
