Proposals by Citycon's Board of Directors' Nomination Committee to the AGM

Helsinki, Finland, 2011-02-09 15:00 CET (GLOBE NEWSWIRE) --
 Citycon Oyj’s Board of Directors’ Nomination Committee proposes to the Annual General Meeting to be held on 23 March 2011 that the number of members of the Board of Directors be resolved at current ten, and that the present Directors Ronen Ashkenazi, Chaim Katzman, Claes Ottosson, Dor J. Segal, Thomas W. Wernink, Per-Håkan Westin and Ariella Zochovitzky be re-elected to the Board and that Kirsi Komi, Roger Kempe and Jorma Sonninen be elected as new Directors to the Board for a term that will continue until the closing of the next Annual General Meeting. Of the present Directors, Gideon Bolotowsky, Raimo Korpinen and Tuomo Lähdesmäki will leave the Board.

 

 Kirsi Komi (born 1963) is a Finnish citizen and has a Master’s degree in law from the University of Helsinki. She is a member of the Board of Directors of M-real Corporation. Prior to that she worked for Nokia Group in various positions for almost 20 years, latest General Counsel and member of the Executive Board of Nokia Siemens Networks. She is independent of the company and of significant shareholders.

  

 Roger Kempe (born 1959) is a Finnish citizen and has a Master’s degree in economic science and business administration from the Hanken School of Economics in Helsinki. He is the managing director of Fincorp Ltd., a family holding company focused on investing. Prior to that he held executive positions in Evli Bank Plc, whose founding members and owners he is. He is independent of the company and of significant shareholders.

 

 Jorma Sonninen (born 1962) is a Finnish citizen holding a European Diploma in Marketing from Chartered Institute of Marketing. He has over 20 years’ of experience from real estate investment business and related advisory services first as CEO, controlling shareholder and transaction advisor in Yritysresurssit Oy and following the acquisition of Yritysresurssit Oy’s business by Colliers International Oy, as Head of Transaction and member of the Board of Directors in Colliers International Oy. He is independent of the company and of significant shareholders.

 

 Said candidates have given their consent to the election. The candidates’ personal details are available on the corporate website at www.citycon.com/board.

 

 Additionally, the Nomination Committee proposes that the remuneration of members of the Board of Directors remain unchanged and that Chairman of the Board of Directors be paid an annual fee of EUR 160,000, Deputy Chairmen EUR 60,000 and ordinary members of the Board EUR 40,000. In addition, the Nomination Committee proposes that Chairman of the Board and Chairmen of the Board’s committees be paid a meeting fee of EUR 700 and other Board and committee members EUR 500 per meeting. The Nomination Committee also proposes that members of the Board of Directors not residing in the Helsinki Metropolitan Area be compensated accrued travel and lodging expenses as well as other potential costs related to Board work.

 

 Helsinki, 9 February 2011

 

 CITYCON OYJ

 Petri Olkinuora

 CEO

 

 For further information, please contact:

 Petri Olkinuora, CEO

 Tel. +358 20 766 4401 or mobile +358 400 333 256

 petri.olkinuora@citycon.fi

 

 Distribution:

 NASDAQ OMX Helsinki

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 www.citycon.fi