Konecranes Oyj - Company Announcement

KONECRANES PLC - KONECRANES PLC’S NOMINATION AND COMPENSATION COMMITTEE'S PROPOSAL FOR COMPOSITION AND COMPENSATION OF THE BOARD OF DIRECTORS

KONECRANES PLC  STOCK EXCHANGE RELEASE  February 1, 2012 at 4.00 p.m.

PROPOSAL ON BOARD COMPOSITION

Konecranes Plc's Nomination and Compensation Committee proposes to the Annual
General Meeting of Shareholders on March 22, 2012 the number of Board members
be eight (8). 

The Committee proposes that the following current Board members be re-elected
as members of the Konecranes Plc's Board of Directors for a term until the
close of the Annual General Meeting in 2013: Mr Svante Adde, Mr Stig Gustavson,
Mr Tapani Järvinen, Mr Matti Kavetvuo, Ms Nina Kopola, Ms Malin Persson and Mr
Mikael Silvennoinen. 

Of the current members of the Board Mr Kim Gran has announced that he will not
be available for re-election. 

The Committee proposes that Mr Bertel Langenskiöld be elected as a new member
of the Konecranes Plc's Board for the same term. 

Bertel Langenskiöld is Managing Director of Hartwall Capital Oy Ab. Hartwall
Capital is a Finnish, family owned investment company the aim of which is to
create sustainable value growth through long-term and active ownership. Bertel
Langenskiöld, M.Sc. (Eng.), has earlier been President of Metso Corporation's
business segments, Fiskars Corporation and Tampella Power/Kvaerner Pulping,
Power Division. 

The Committee's aim is to see to that the number of the directors and the
composition of the board shall make it possible for the board to discharge its
duties in an efficient manner. The composition shall take into account the
needs of the company's operations and the development stage of the company. 

CVs of the proposed Board members are attached.

All candidates have given their consent to the election.

With the exception of Mr Stig Gustavson, the Board members are deemed to be
independent of the Company under the Finnish Corporate Governance Code. Mr
Gustavson is not deemed independent of the Company based on the Board's overall
evaluation relating to his former and current positions in Konecranes, combined
with his substantial voting rights in the Company. 

With the exception of Mr Bertel Langenskiöld, the Board members are independent
of significant shareholders of the company. Mr Langenskiöld is not independent
of significant shareholders of the company based on his current position as the
Managing Director of Hartwall Capital Oy Ab. HTT KCR Holding Oy Ab holds more
than 10 percent of Konecranes Plc's shares and votes. HTT KCR Holding Oy Ab is
a subsidiary of Hartwall Capital Oy Ab. In addition, HTT KCR Holding Oy Ab, K.
Hartwall Invest Oy Ab, Fyrklöver-Invest Oy Ab and Ronnas Invest AG will in
practice co-operate in matters concerning their ownership in Konecranes Plc. 


COMPENSATION OF THE BOARD OF DIRECTORS

The Nomination and Compensation Committee of the Board of Directors proposes to
the General Meeting that the annual remuneration payable to the members of the
Board of Directors to be elected for a term of office ending at the end of the
Annual General Meeting 2013 be increased by approximately 5 per cent from 2011
as follows: Chairman of the Board EUR 105,000, Vice Chairman of the Board EUR
67,000, and other Board members EUR 42,000. The Committee furthermore proposes
that 50 per cent of the annual remuneration be paid in Konecranes shares
purchased on the market on behalf of the Board members. The remuneration may
also be paid by transferring treasury shares based on the authorization given
to the Board of Directors by the General Meeting. In case such purchase of
shares cannot be carried out due to reasons related to either the Company or a
Board member, the annual remuneration shall be paid entirely in cash. In
addition, the Chairman of the Board, the Vice Chairman of the Board, and other
Board members are entitled to a compensation of EUR 1,500 per attended Board
committee meeting. The Chairman of the Audit Committee is, however, entitled to
a compensation of EUR 3,000 per attended Audit Committee meeting. No
remuneration will be paid to Board members employed by the Company. Travel
expenses will be compensated against receipt. 

KONECRANES PLC

Miikka Kinnunen
Director, Investor Relations

FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations tel. +358 (0)20 427 2050

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 2010, Group sales totaled EUR 1,546 million. The Group has 11,400
employees at 578 locations in 46 countries. Konecranes is listed on the NASDAQ
OMX Helsinki (symbol: KCR1V). 


DISTRIBUTION
NASDAQ OMX Helsinki
Media
www.konecranes.com

ATTACHMENT:

ADDITIONAL INFORMATION RELATING TO THE PROPOSAL BY THE NOMINATION AND
COMPENSATION COMMITTEE FOR COMPOSITION OF THE BOARD OF DIRECTORS 

Stig Gustavson b. 1945
Chairman of the Board since 2005.
Board Member since 1994 and Member of the Nomination and Compensation Committee
since 2006. 
M.Sc. (Eng.), Dr.Tech. (hon.)

Principal occupation: Board memberships

Primary working experience
KCI Konecranes Plc 1994 - 2005: President and CEO
KONE Cranes division 1988 - 1994: President
KONE Corporation 1982 - 1988, Sponsor Oy 1978 - 1982, RAY
(Raha-Automaattiyhdistys) 1976 - 1978 and Wärtsilä Oy Ab 1970 - 1976: Holder of
various executive positions 

Current key positions of trust
Ahlström Capital Oy: Chairman of the Board
Cramo Plc: Chairman of the Board
Dynea Oy: Deputy Chairman of the Board
Handelsbanken Regional Bank Finland: Chairman of the Board
Oy Mercantile Ab: Vice Chairman of the Board
Vaisala Group: Member of the Board
IK Investment Partners: Senior Regional Advisor
Technology Academy Foundation: Chairman of the Board

Shares: Konecranes Plc has on December 28, 2011 received information according
to which the Chairman of the company's Board of Directors Stig Gustavson has
donated all of his shares in Konecranes Plc to his near relatives retaining
himself for life the voting rights and right to dividend attached to the
donated shares. The donation encompasses in total 2,069,778 shares which
corresponds to approximately 3.27 percent of all of the company's shares and
voting rights. 


Svante Adde b. 1956
Board Member since 2004 and Member of the Audit Committee since 2004 and
Chairman of the Audit Committee since 2008. 
B.Sc. (Econ. and Business Administration)

Principal occupation: Managing Director, Pöyry Capital Limited, London

Primary working experience
Compass Advisers, London 2005 - 2007: Managing Director
Ahlstrom Corporation 2003 - 2005: Chief Financial Officer
Lazard London and Stockholm 2000 - 2003: Managing Director
Lazard London 1989 - 2000: Director
Citibank 1979 - 1989: Director

Current key positions of trust
Meetoo AB: Member of the Board

Shares: 5,111


Tapani Järvinen b. 1946
Board Member since 2009 and Member of the Audit Committee since 2009.
M.Sc. (Eng), Lic. Sc. (Tech.)

Principal occupation: Board memberships

Primary working experience
Outotec Oyj 2006 - 2009: President and CEO
Outokumpu Technology, Finland 2003 - 2006: President and CEO
Outokumpu Oyj, Finland 2000 - 2005: Executive Vice President and Member of the
Group Executive Committee 
Compañía Minera Zaldívar, Chile 1994 - 2000: General Manager and CEO

Current key positions of trust
Okmetic Oyj: Vice Chairman of the Board
Outotec Oyj: Member of the Board
Normet Oy: Member of the Board
Talvivaara Mining Company Plc: Member of the Board
Dragon Mining Ltd, Australia: Member of the Board

Shares: 2,604


Matti Kavetvuo b. 1944
Board Member since 2001 and Chairman of the Nomination and Compensation
Committee since 2009. 
Member of the Audit Committee 2004 - 2008.
M.Sc. (Eng.), B.Sc. (Econ.)

Principal occupation: Board memberships

Primary working experience
Pohjola Group Plc 2000 - 2001: CEO
Valio Ltd 1992 - 1999: CEO
Orion Corporation 1985 - 1991: CEO
Instrumentarium Corp. 1979 - 1984: President

Current key positions of trust
Orion Corporation: Vice Chairman of the Board

Shares: 5,259


Nina Kopola b. 1960
Board Member since 2011 and Member of the Nomination and Compensation Committee
since 2011. 
M.Sc. (Chemical Eng.), Lic. Sc. (Tech.)

Principal occupation: President and CEO, Suominen Corporation and Suominen Group

Primary working experience
Dynea Oy 2008 -  2011: Executive Vice President, President Europe
Dynea Oy 2006 - 2008: Executive Vice President, Global Market Applications
Dynea Oy 2005 - 2006: Group Vice President, Marketing
Dynea Industrial Resins 2003 - 2005: Marketing Manager
Dynea Oy 2001 - 2003: Controller, Group Finance
Dynea Oy 2000 - 2001: Manager Business Analysis
Fortum Oil&Gas 1999 - 2000: Product specialist

Current key position of trust
The Chemical Industry Federation of Finland: Member of the Board

Shares: 716


Bertel Langenskiöld b. 1950
M.Sc. (Eng.)

Principal occupation: Managing Director, Hartwall Capital Oy Ab

Primary working experience
Metso Paper and Fiber Technology 2009 -  2011: President
Metso Paper 2007 - 2008: President
Metso Paper's Fiber Business Line 2006 - 2007: President
Metso Minerals 2003 - 2006: President
Fiskars Corporation 2001 - 2003: President and CEO
Tampella Power/Kvaerner Pulping, Power Division 1994 - 2000: President

Current key position of trust
Wärtsilä Corporation: Member of the Board
Luvata Oy: Member of the Board
Karelia-Upofloor Oy: Member of the Board

Shares: -


Malin Persson b. 1968
Board Member since 2005 and Member of the Nomination and Compensation Committee
since 2005. 
M.Sc. (Eng.)

Principal occupation: President and CEO, Volvo Technology Corporation

Primary working experience
Volvo Group: Holder of various executive positions including:
AB Volvo: Vice President, Corporate Strategy and Business Development
Volvo Transport Corp: Vice President, Business & Logistics Development

Current key positions of trust
Hexpol AB: Member of the Board
Volvo Trucks AB: Member of the Board

Shares: 4,259


Mikael Silvennoinen b. 1956
Board member since 2008 and Member of the Audit Committee since 2008.
M.Sc. (Econ.)

Principal occupation: President and CEO, Pohjola Bank Plc

Primary working experience
Pohjola Group 1989 - 1997: Holder of various executive positions
Wärtsilä Group 1986 - 1989: Group Treasurer

Current key positions of trust
Pohjola Insurance Group Plc : Chairman of the Board
Unico Banking Group: Member of the Steering Committee

Shares: 3,043