Proposal of the major shareholders concerning the composition of the board of directors of Wärtsilä

Wartsila Corporation
  • Stock exchange release
6 March 2002 at 2:01 AM E. Europe Standard Time

Wärtsilä Corporation STOCK EXCHANGE RELEASE 6 March 2002

The shareholders representing more than 20% of all the votes in Wärtsilä Corporation will present the following proposal to the Annual General Meeting on 12 March 2002 concerning election to the Board of Directors:

That the members in turn for retirement from the Board, Mr Göran J. Ehrnrooth, Mr Georg Ehrnrooth and Mr Vesa Vainio be re-elected for the term of office ending at the Annual General Meeting in 2005.

Mr Christoffer Taxell has notified the Board that he will not stand for re-election. The aforementioned shareholders propose that no new member be elected in Mr Taxell’s place, which would leave six members on the Board.

The members of Wärtsilä’s Board of Directors not yet due to retire are Robert G. Ehrnrooth, Jaakko Iloniemi and Paavo Pitkänen.