HELSINKI, Finland, Nov. 7, 2007 (PRIME NEWSWIRE) -- Metso's Nomination Committee, established by the Annual General Meeting, prepares proposals on the composition of the Board of Directors along with the director remuneration for the next Annual General Meeting, which is tentatively scheduled for April 2, 2008. The Nomination Committee will present its proposal to the company's Board of Directors no later than February 1, 2008. The Nomination Committee consists of the representatives named by the four biggest registered shareholders as of November 1, 2007 along with the Chairman of Metso's Board of Directors as an expert member.
Metso's four biggest registered shareholders on November 1, 2007 were: State of Finland, Varma Mutual Pension Insurance Company, Ilmarinen Mutual Pension Insurance Company and Cevian Capital II Master Fund L.P.
The above mentioned shareholders have chosen the following persons as their representatives for Metso's Nomination Committee: Pekka Timonen, Director General, Ownership Steering Department, Prime Minister's Office (State of Finland); Mikko Koivusalo, Head of Capital Market Investments (Varma Mutual Pension Insurance Company); Harri Sailas, CEO (Ilmarinen Mutual Pension Insurance Company), and Lars Forberg, Managing Partner (Cevian Capital). The Committee will elect a chairman from among its members in its organizing meeting. Matti Kavetvuo, Chairman of Metso's Board of Directors, serves as the Committee's expert member.
Metso is a global engineering and technology corporation with 2006 net sales of approximately EUR 5 billion. Its more than 26,000 employees in more than 50 countries serve customers in the pulp and paper industry, rock and minerals processing, the energy industry and selected other industries. www.metso.com
Olli Vaartimo Executive Vice President and CFO Kati Renvall Vice President, Corporate Communications
CONTACT: Metso Corporation Press contact: Aleksanteri Lebedeff, Senior Vice President, General Counsel +358 20 484 3240 Investors contact: Johanna Sintonen, Vice President, Investor Relations +358 20 484 3253