Neste Oil’s Nomination Committee´s proposal for composition of the Board of Directors

07.01.2008

Neste Oil Corporation   
Stock Exchange Release
7 January 2008 at 4.15 p.m. EET

The Nomination Committee of Neste Oil Corporation will propose to the Annual General Meeting to be held on 14 March 2008 that the company's Board of Directors should comprise the following members:

Mr. Timo Peltola should be re-elected as the Chairman of the Board, Mr. Mikael von Frenckell as Vice Chairman, and Board members Mr Michiel A.M. Boersma, Ms. Ainomaija Haarla, Ms. Nina Linander, Mr Antti Tanskanen and Ms. Maarit Toivanen-Koivisto should be re-elected for a further term of office.

The Nomination Committee's candidate for a new Board member is Mr Markku Tapio, Senior Financial Councellor of the Government Office, Ownership Steering Department.

All those concerned have given their consent to Board service. All the nominees are considered independent, with the exception of Markku Tapio, who is employed by the majority owner, the Finnish State.
 
The Nomination Committee will also propose that the remuneration paid to the Board of Directors should be as follows:

Chairman EUR 66,000/year
Vice Chairman EUR 49,200/year
Member EUR 35,400/year
Meeting fee *) EUR 600/meeting
*) Applies also to committee meetings
 
The meeting fee is proposed to be paid in double for the members traveling to the meetings from outside of Finland.
 
Shareholders' Nomination Committee was appointed in November 2007 and comprised following persons: Mr. Jarmo Väisänen, Senior Financial Counsellor of the Government Office, Ownership Steering Department; Mr. Harri Sailas, CEO, Ilmarinen Mutual Pension Insurance Company; and Mr. Risto Murto, Chief Investment Officer, Varma Mutual Pension Insurance Company. The Chairman of Neste Oil's Board of Directors Timo Peltola served as the Committee's expert member.


Neste Oil Corporation
Osmo Kammonen
Senior Vice President, Communications

 

Brief presentation of Mr.  Markku Tapio
- Born 1948, M.Sc. (Economics, University of Helsinki)
- Senior Financial Councellor of the Government Office, Ownership Steering Department
- Member of the Board of Kemira Oyj
- Member of the Board of VR- Group Ltd