Stora Enso Oyj - Decisions of general meeting

Stora Enso’s Annual General Meeting and decisions by the Board of Directors

Helsinki, Finland, 2016-04-28 17:15 CEST (GLOBE NEWSWIRE) -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 28 April 2016 at 18.15 EET 

Stora Enso’s Annual General Meeting (AGM) on 28 April 2016 adopted the accounts
for 2015 and granted the Company’s Board of Directors and Chief Executive
Officer discharge from liability for the period. 

Resolution on the use of the profit shown on the balance sheet and the payment
of dividend 
The AGM approved the proposal by the Board of Directors that the Company
distributes a dividend of EUR 0.33 per share for the year 2015. 

The dividend shall be paid to shareholders who on the record date of the
dividend payment, 2 May 2016, are recorded in the shareholders’ register
maintained by Euroclear Finland Oy or in the separate register of shareholders
maintained by Euroclear Sweden AB for Euroclear Sweden registered shares.
Dividends payable for Euroclear Sweden registered shares will be forwarded by
Euroclear Sweden AB and paid in Swedish crown. Dividends payable to ADR holders
will be forwarded by Citibank N.A. (Citi) and paid in US dollars. 

The AGM approved a proposal by the Board of Directors that the dividend be paid
on or about 10 May 2016. 

Members of the Board of Directors
The AGM approved a proposal that of the current members of the Board of
Directors – Gunnar Brock, Anne Brunila, Elisabeth Fleuriot, Hock Goh, Mikael
Mäkinen, Richard Nilsson, and Hans Stråberg – be re-elected members of the
Board of Directors until the end of the following AGM and that Jorma Eloranta
be elected new member of the Board of Directors for the same term of office. 

Remuneration
The AGM approved the proposed annual remuneration for the Board of Directors as
follows: 



Chairman       EUR 170 000 
Vice Chairman  EUR 100 000 
Members        EUR   70 000




The AGM also approved a proposal that the members of the Board of Directors use
40% of the above mentioned annual remuneration for purchasing Stora Enso R
shares from the market and that the purchases will be carried out within two
weeks from the AGM. 


The AGM approved the proposed annual remuneration for the Board committees as
follows: 

Financial and Audit Committee

Chairman  EUR 20 000
Members   EUR 14 000


Remuneration Committee

Chairman  EUR 10 000 
Members   EUR   6 000


Sustainability and Ethics Committee

Chairman  EUR 10 000 
Members   EUR   6 000



Auditor
The AGM approved a proposal that the current auditor Authorised Public
Accountants Deloitte & Touche Oy shall be re-elected auditor of the Company
until the end of the following AGM. The AGM approved a proposal that
remuneration for the auditor shall be paid according to invoice approved by
Financial and Audit Committee. 

Appointment of the Shareholders’ Nomination Board
The AGM approved a proposal to appoint a Shareholders’ Nomination Board to
exist until otherwise decided and to annually prepare proposals for the
shareholders’ meeting regarding the number and election of the members of the
Board of Directors, the remuneration of the Chairman, Vice Chairman and members
of the Board of Directors as well as the remuneration of the Chairmen and
members of the Board committees. 

The Shareholders’ Nomination Board shall consist of the Chairman of the Board
of Directors, the Vice Chairman of the Board of Directors and two other members
appointed by the two largest shareholders as of 31 August each year, appointing
one each as set out in the Charter of the Shareholders’ Nomination Board. 

The Chairman of the Board of Directors shall convene the Shareholders’
Nomination Board, which shall at the latest on 31 January each year present its
proposals to the Board of Directors. The Shareholders’ Nomination Board shall
appoint a Chairman from among its members. The Chairman may not be a member of
the Board of Directors. Members of the Shareholders’ Nomination Board shall not
receive separate compensation. 

The AGM further adopted the Charter of the Shareholders’ Nomination Board.

Decisions by the Board of Directors

At its meeting held after the AGM, the Stora Enso Board of Directors elected
from among its members Gunnar Brock as its Chairman and Jorma Eloranta as Vice
Chairman. 

Richard Nilsson (chairman), Gunnar Brock and Mikael Mäkinen were elected as
members of the Financial and Audit Committee. 

Gunnar Brock (chairman), Jorma Eloranta and Hans Stråberg were elected as
members of the Remuneration Committee. 

Anne Brunila (chairman), Elisabeth Fleuriot and Richard Nilsson were elected as
members of the Sustainability and Ethics Committee. 



Composition of the Shareholders’ Nomination Board


Vice Chairman of the Board of Directors Jorma Eloranta will replace former
member of the Board of Directors Juha Rantanen as member of the Shareholders’
Nomination Board. The other members of the Shareholders’ Nomination Board, Kari
Järvinen (Chairman), Marcus Wallenberg and Gunnar Brock will continue in their
positions. 


For further information, please contact:
Ulla Paajanen-Sainio, SVP, Investor Relations, tel. +358 40 763 8767

Stora Enso is a leading provider of renewable solutions in packaging,
biomaterials, wooden constructions and paper on global markets. Our aim is to
replace fossil based materials by innovating and developing new products and
services based on wood and other renewable materials. We employ some 26 000
people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion.
Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq
Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs
(SEOAY) on the International OTCQX over-the-counter market. storaenso.com 


STORA ENSO OYJ