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Munksjö Elects Cappelen Deputy Chairman, Establishes Audit Committee

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Munksjö Oyj, Finland, reports that it has elected Fredrik Cappelen deputy chairman of the board. The company also established an audit committee and a remuneration committee to assist its board of directors.

The primary task of the Audit Committee is to assist the board in fulfilling its supervisory responsibilities and prepare certain accounting and auditing matters to be handled by the board. In addition, the Audit Committee makes recommendations for the election and removal of the external auditors and for their compensation and approves the external auditors' audit plan based on the auditors' proposal. The board decided that the Audit Committee consists of the following three members: Elisabet Salander Björklund (chairman), Jarkko Murtoaro, and Sebastian Bondestam.

The Remuneration Committee's principal task is to assist the board in the efficient preparation and handling of matters pertaining to the appointment and dismissal of the CEO and other executives and their remuneration. The Remuneration Committee is responsible for planning the remuneration of executive management and preparing the principles underlying the remuneration of Munksjö's personnel. The board decided that the Remuneration Committee consists of the following three members: Peter Seligson (chairman), Fredrik Cappelen, and Hannele Jakosuo-Jansson.

The Munksjö Group is a specialty paper producer. Its products include decor paper, release liners, electrotechnical paper, abrasive backings, and Interleaving paper for steel.


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