EXEL COMPOSITES PLC | STOCK EXCHANGE RELEASE | 15 JANUARY 2026 AT 1:00 PM EET
Shareholders' Nomination Board's proposal to the Annual General Meeting 2026
Exel Composites Plc's Shareholders' Nomination Board presents the following
proposals to the Annual General Meeting 2026:
Number of members and composition of the Board of Directors
The Nomination Board proposes that the number of members of the Board of
Directors shall be confirmed to be five (5) and that the current members of the
Boardof DirectorsJouni Heinonen, Christian Busdiecker, and Elisabeth Larsson be
re-elected as members of the Board of Directors as well as Erkka Repo and Teija
Sarajärvi be elected as new members of the Board of Directors for the term
ending at the closure of the Annual General Meeting of 2027. Of the current
members, Helena Nordman-Knutson and Kirsi Sormunen have informed that they are
not available for re-election to the Board of Directorsfor the new term.
The Nomination Board further proposes Jouni Heinonen to be re-elected as
Chairman of the Board of Directors for the term ending at the closure of the
Annual General Meeting of 2027.
All persons proposed for Board service have given their consent to serving on
the Board and are considered to be independent of the Company and its
shareholders.
Proposed new members
Erkka Repo (born 1970, Finnish citizen) is CFO at Aspo Group and member of the
Group Executive Committee. He has previously held a CFO position in VR Group and
has over 20 years of experience from leadership positions in UPM's finance
function. He holds a Master's degree in Economics.
Teija Sarajärvi (born 1969, Finnish citizen) serves as EVP, HR at Wärtsilä and
member of the Board of Management. She has previously held several other
leadership positions in HR at Huhtamaki, OP Financial Group, Metso and Nokia.
She holds a Master of Arts degree.
The CV information of the proposed new Board members is attached to this
release. The proposed current members of the Board of Directors are presented on
Exel Composites' website
at https://investors.exelcomposites.com/governance/board-of-directors/
Remuneration of the Board of Directors
The Nomination Board proposes that the annual remuneration for the Board members
is increased and would be as follows:
· Chairman: Annual remuneration of EUR 47,000 (previous year: EUR 45,000) and
additionally EUR 1,750 (1,500) for attendance at each Board and committee
meeting and for each other similar all-day Board assignment.
· Board member: Annual remuneration of EUR 23,000 (21,000) and additionally
EUR 1,250 (1,000) for attendance at each Board and committee meeting and each
other similar all-day Board assignments. In addition, for each committee
meeting, the meeting fee for the committee chairman shall be EUR 1,750 (1,500).
· Travel expenses and other out-of-pocket expenses arising from the Board work
will be compensated in accordance with the Company's established practice and
travel rules.
Out of the yearly remuneration 60% would be paid in cash and 40% in Company's
shares.
The Annual General Meeting is planned to be held on 26 March 2026. The proposals
will also be included in the Notice to the Annual General Meeting 2026 to be
published at the later date.
Composition of the Shareholders' Nomination Board
The composition of the Nomination Board preparing the proposal for the Annual
General Meeting 2026:
· Niina Arkko, Aktia Asset Management
· Ville Kivipelto, Danske Invest Finnish Equity Fund
· Jukka Vähäpesola, Elo Mutual Pension Insurance Company
· Petteri Vaarnanen, SP-Fund Management, and
· Jouni Heinonen, Chairman of the Board of Directors, Exel Composites Plc, as
an expert member of the Shareholders' Nomination Board
More information
Lauri Haavisto, Director, Investor Relations
investor@exelcomposites.com
+358 20 754 1214
Exel Composites in brief
Exel Composites is one of the largest manufacturers of composite profiles and
tubes made with pultrusion and pullwinding technologies and a pultrusion
technology forerunner in the global composite market. Our forward-thinking
composite solutions made with continuous manufacturing technologies serve
customers in a wide range of industries around the world. You can find our
products used in applications in diverse industrial sectors such as wind power,
transportation and building and infrastructure.
Our R&D expertise, collaborative approach and global footprint set us apart from
our competition. Our composite solutions help customers save resources, reduce
products' weight, improve performance and energy efficiency, and decrease total
lifetime costs. We want to be the first choice for sustainable composite
solutions globally.
Headquartered in Finland, Exel Composites employs over 600 forward-thinking
professionals around the world and is listed on Nasdaq Helsinki. To find out
more about our offering and company please visitwww.exelcomposites.com