KONECRANES NOMINATION AND COMPENSATION COMMITTEE'S PROPOSAL FOR COMPOSITION OF
THE BOARD OF DIRECTORS
Konecranes Nomination and Compensation Committee proposes to the Annual General
Meeting of Shareholders on March 13, 2008 the election of one new Board member
and the re-election of seven of the current members (Mr Stig Gustavson, Mr Björn
Savén, Mr Svante Adde, Mr Kim Gran, Mr Matti Kavetvuo, Ms Malin Persson and Mr
Timo Poranen) for a term of one year.
Mr Stig Stendahl , who is currently a member of the Konecranes Board, has
announced that he will not be available for re-election.
The Nomination and Compensation Committee proposes Mr Mikael Silvennoinen,
President and CEO of OKO Bank to be elected as new member of the Konecranes
Board of Directors for the next one-year term.
All candidates have given their consent to the election.
Mr Silvennoinen, M.Sc. (Econ. Finance and Accounting) has been the President and
CEO of OKO Bank and a member of the Group's Executive Board of OKO Group since
1997. Prior to this he had been in various executive positions in OKO and
Wärtsilä Groups. Mr Silvennoinen is also Chairman of the Board of Pohjola
Insurance Group Plc and a member of the Steering Committee of Unico Banking
Group.
With the exception of Stig Gustavson, the candidates are deemed to be
independent of the company. Stig Gustavson held the position of President and
CEO of Konecranes until June 17, 2005. All candidates are independent of all
significant shareholders of the company.
Information regarding the proposed elected Board members can be found on
Konecranes investor website at www.konecranes.com/investor.
Compensation of the Board of Directors
The Nomination and Compensation Committee proposes the following annual
compensation to the Board Members: Chairman of the Board EUR 100,000, Vice
Chairman of the Board EUR 64,000 and other Board Members EUR 40,000. In
addition, compensation of EUR 1,500 per meeting is proposed for attendance at
Board committee meetings.
The Committee proposes that the annual compensation can be paid either in cash
or in Konecranes Plc's shares acquired from the market.
Following prior praxis, the Committee further proposes that the travel expenses
of Board members are compensated for against receipt.
Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2006, Group sales totaled EUR 1483 million. The Group has 8,000
employees, at more than 370 locations in 43 countries. Konecranes is listed on
the OMX Helsinki Stock Exchange (symbol: KCR1V).
KONECRANES PLC
Paul Lönnfors
IR Manager
FURTHER INFORMATION
Mr Paul Lönnfors, IR Manager, tel. +358 20 427 2050
DISTRIBUTION
OMX Nordic Exchange Helsinki
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