Neste Oil's Nomination Committee's proposal for composition of the Board of DirectorsThe Nomination Committee, established by Neste Oil Corporation's Annual General Meeting on 14 March 2008, will propose to the Annual General Meeting to be held on 3 April 2009 that the company's Board of Directors should comprise the following members:
Mr. Timo Peltola should be re-elected as the Chairman of the Board, Mr. Mikael von Frenckell as Vice Chairman, and Board members Mr Michiel Boersma, Ms. Ainomaija Haarla, Ms. Nina Linander, Mr Markku Tapio and Ms. Maarit Toivanen-Koivisto should be re-elected for a further term of office.
The Nomination Committee's candidate for a new Board member is Mr Hannu Ryöppönen B.A (Business Adm.). All those concerned have given their consent to Board service. All the nominees are considered independent, with the exception of Markku Tapio, who is employed by the majority owner, the Finnish State.
The Nomination Committee will also propose that the remuneration paid to the Board of Directors should remain unchanged and be as follows:
Chairman EUR 66,000/year
Vice Chairman EUR 49,200/year
Member EUR 35,400/year
Meeting fee EUR 600/meeting
The meeting fee applies also to Board's committee meetings, and is proposed to be paid in double for the members living outside of Finland.
Shareholders' Nomination Committee was appointed in November 2008 and comprised following persons: Mr. Jarmo Väisänen, Senior Financial Counsellor of the Government Office, Ownership Steering Department; Mr.Timo Ritakallio, Deputy CEO, Ilmarinen Mutual Pension Insurance Company; and Mr. Risto Murto, Chief Investment Officer, Varma Mutual Pension Insurance Company. The Chairman of Neste Oil's Board of Directors Timo Peltola served as the Committee's expert member.
There is career and other relevant information on all persons proposed for Board service on www.nesteoil.com. In addition, information on Mr Hannu Ryöppönen, who is proposed to be elected as a new Board member, is attached below.
Neste Oil Corporation
Senior Vice President, Corporate Communications
For additional information, please contact Mr Osmo Kammonen, Senior Vice President, Corporate Communications, tel. + 358 50 458 4885. Mr Hannu Ryöppönen, born 1952
B.A. (Business Adm.) Swedish School of Economics, Helsinki 1976
Relevant career information
2007-2009 Deputy CEO, Stora Enso Oyj, Helsinki/London
2005-2008 CFO, Stora Enso Oyj, Helsinki/London
2003-2005 CFO, Royal Ahold NV, Amsterdam
1999-2003 CFO, Industri Kapital Group, London
1985-1998 CFO, Ikea Group, Copenhagen
1981-1985 Various financial executive positions with Alfa Laval Group, USA, Sweden
1977- 1981 Various customer executive positions with Chemical Bank, USA, UK
2005 - Chairman of the Board, Altor private equity funds
2002- Member of the Board, Value Creation Investments Limited
Mr Ryöppönen does not own Neste Oil shares.