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The Shareholders' Nomination Committee's proposal on the composition and remuneration of the Board of Directors of Cramo Plc

Cramo Plc   
Stock Exchange Release
24 January 2019, at 9.00 am Finnish time (EET)

The Shareholders' Nomination Committee's proposal on the composition and remuneration of the Board of Directors of Cramo Plc

Proposal on the composition of the Board of Directors

The Shareholders' Nomination Committee of Cramo Plc proposes to the next Annual General Meeting of Shareholders, which is planned to be held on 28 March 2019, that the number of members of the Board of Directors be confirmed as seven (7) ordinary members. The Nomination Committee proposes that, in accordance with their consents, the following current members of the Board be re-elected: AnnaCarin Grandin, Peter Nilsson, Veli-Matti Reinikkala, Joakim Rubin and Raimo Seppänen, and that Andrew P. Studdert and Christian Bubenheim be elected as new Board members, all to serve for a term ending at the end of the Annual General Meeting 2020. Of the current members of the Board Perttu Louhiluoto and Caroline Sundewall have announced that they will not be available for re-election.

Andrew P. Studdert (born 1956) is an experienced executive and board professional. He has extensive knowledge of Cramo’s field of business. He has served, amongst others, as the Chairman and Chief Executive Officer of NES Rentals Holdings, Inc., a heavy equipment rental company based in the USA during 2004 – 2017. Before that he, amongst others, served as the COO for UAL Corporation/United Airlines, a global airline company based in the USA. Andrew holds a BA from San Francisco State University.

Christian Bubenheim (born 1965) has long international experience from serving in managerial positions in international businesses. He has had leading management positions in companies like Scout24, Amazon Germany, Thales, and Intel Corporation. He is an expert in driving digital transformation of businesses. Christian holds a Economics & Engineering Diploma from Munich University of Applied Sciences.

Proposal on the remuneration of the members of the Board of Directors

The Nomination Committee proposes to the Annual General Meeting that the remuneration of the Board of Directors be kept at the current level and, thus, proposes that the Chairman of the Board be paid EUR 85,000 per year and the other members of the Board EUR 37,500 per year.

It is proposed that the remuneration is paid in cash. Pursuant to the adopted policy on Board member share ownership Board members, who do not already have such a holding of Cramo shares, are under a four-year (4) period from the start of their directorship expected to acquire Cramo shares to a total market value which equal at least one year’s Board fees before taxes, excluding any Committee compensation. The Nomination Committee annually follows up on the Board members’ shareholding as a part of its process and evaluates if it is according to the policy.

In addition, the Nomination Committee proposes that like the previous year all Board members would be entitled to a compensation of EUR 1,000 per attended meeting of the Audit and Remuneration Committees and EUR 500 per attended meeting of the M&A Committee. Further, it is proposed that the member of the Board elected in the position of Chairman of the Audit Committee would receive an additional compensation of EUR 5,000 per year. Reasonable travel expenses will be refunded in accordance with an invoice.

More information on the Shareholders' Nomination Committee's proposed members of the Board of Directors and its full proposal on the remuneration will be made available on company's website. The Nomination Committee's proposals will be included in the invitation to the Annual General Meeting.

The Shareholders' Nomination Committee of Cramo Plc is chaired by Fredrik Åtting, Partner, EQT Partners. The members of the Nomination Committee are Ari Autio, Member of the Board of Directors of foundation, Rakennusmestarien säätiö, Kalle Saariaho, CEO, OP Fund Management Company Ltd and Veli-Matti Reinikkala, Chairman of the Board of Directors, Cramo Plc.

CRAMO PLC

Leif Gustafsson
CEO

Further information:
Fredrik Åtting, Chairman of the Shareholders' Nomination Committee, tel. +49 89 255 499 25

Distribution:

Nasdaq Helsinki Ltd.

Major media

www.cramo.com

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in fourteen countries. With a group staff around 2,500, Cramo's consolidated sales in 2017 was EUR 729.5 million. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd.

 

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