Annual General Meeting 2012
Fortum Corporation’s Annual General Meeting, which was held in Helsinki on 11 April 2012, adopted the financial statements of the parent company and the Group for 2011, discharged Fortum’s Supervisory Board from liability for the time period 1 January–4 April 2011, and Fortum's Board of Directors as well as the President and CEO from liability for 2011.
The Annual General Meeting decided to pay a dividend of EUR 1.00 per share for 2011. The record date for the dividend payment was 16 April 2012 and the dividend payment date was 23 April 2012.
The Annual General Meeting confirmed the number of members in the Board of Directors to be seven. Sari Baldauf was re-elected as Chairman and Christian Ramm-Schmidt as Deputy Chairman, and members Minoo Akhtarzand, Heinz-Werner Binzel, Ilona Ervasti-Vaintola and Joshua Larson were re-elected. Kim Ignatius was elected as a new member to the Board of Directors.
The Annual General Meeting confirmed the annual compensation of EUR 75,000 per year to the Chairman, EUR 57,000 per year to the Deputy Chairman and EUR 40,000 per year to each member of the Board, as well as EUR 57,000 per year to the Chairman of the Audit and Risk Committee if he or she is not at the same time acting as Chairman or Deputy Chairman. In addition, a EUR 600 fee is paid for Board meetings as well as for committee meetings. The meeting fee is doubled for Board members who live outside Finland but in Europe and tripled for members living elsewhere outside Finland. Members of the Board of Directors are compensated for travel expenses in accordance with the company’s travel policy.
The Annual General Meeting also confirmed the appointment of a Nomination Board to prepare proposals concerning Board members and their remuneration for the next Annual General Meeting. The Nomination Board will consist of the representatives of the three main shareholders and, in addition, the Chairman of the Board of Directors as an expert member. The Nomination Board will be convened by the Chairman of the Board of Directors, and the Nomination Board will choose a chairman from among its own members. The Nomination Board shall give its proposal to the Board of Directors of the company at the latest by 1 February preceding the Annual General Meeting.
In addition, Authorised Public Accountant Deloitte & Touche Oy was re-elected as auditor and the auditor’s fee is paid pursuant to an invoice approved by the company.