Nomination Board's proposal for Neste's Board of Directors

“On behalf of the Nomination Board, I wish to thank Jorma Eloranta for his strategic and constructive contribution first as the Vice Chair of the Board and after that for six years as the Chair. The quality of his work can be seen for example in the fact that during Mr. Eloranta’s tenure as Chair, Neste’s market value has increased by more than sixfold to the current EUR 14 billion,” Timonen says. The Shareholders’ Nomination Board did not make a proposal for the remuneration paid to the Board of Directors for their following term of office. The Chair of the Nomination Board has notified the Nomination Board and the Company that at the Annual General Meeting, the State of Finland will propose that the remuneration shall remain unchanged. The remuneration paid to the Board of Directors at the moment is as follows: Chair, EUR 66,000/year Vice Chair, EUR 49,200/year Member, EUR 35,400/year. In addition to the annual fee, members of the Board of Directors would receive a meeting fee of EUR 600 for each meeting held in the member’s home country and EUR 1,200 for each meeting held in another country, plus compensation for expenses pertaining to the company’s travel guidelines. The meeting fee for telephone meetings will be paid, according to the fee payable for meetings held in each member’s home country. The Shareholders’ Nomination Board was appointed on 6 September 2017. In accordance with a decision made by the AGM, the Nomination Board consisted of representatives of the company’s three largest shareholders, as of the first weekday in September: Pekka Timonen (Chair of the Nomination Board), Director General of the Ministry of Economic Affairs and Employment representing the State of Finland; Timo Ritakallio, President and CEO of Ilmarinen Mutual Pension Insurance Company; Elli Aaltonen, Director General of Kela; Jorma Eloranta as the Chair of Neste’s Board of Directors. The Nomination Board was unanimous in its proposals for the Board’s composition and the number of members in the Board. Source / More: Neste Corporation oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>

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