Published: 2011-02-01 09:00:00 CET
YIT
Company Announcement

PROPOSALS FOR YIT CORPORATION'S BOARD OF DIRECTORS AND ITS FEES

Helsinki, 2011-02-01 09:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION     STOCK EXCHANGE RELEASE        FEBRUARY 1, 2011   at 10:00

 

PROPOSALS FOR YIT CORPORATION'S BOARD OF DIRECTORS AND ITS FEES

 The Nomination and Rewards committee of YIT Corporation's Board of Directors has made its proposals regarding Board of Directors' composition and fees to the Annual General Meeting to be held on March 11, 2011.

 The number of the members of the Board of Directors and the members of the Board

 The Board’s Nomination and Rewards Committee proposes that a Chairman, a Vice Chairman and five ordinary members be elected to the Board of Directors.

 The Committee proposes that Henrik Ehrnrooth be elected as the Chairman of the Board of Directors, Reino Hanhinen as the Vice Chairman, and as the members of the Board of Directors: Kim Gran, Eino Halonen, Antti Herlin, Satu Huber and Michael Rosenlew, who has not previously been part of YIT Board of Directors. The current YIT Board of Directors consists of Henrik Ehrnrooth as the Chairman, Reino Hanhinen as the Vice Chairman and Kim Gran, Eino Halonen, Antti Herlin, Satu Huber and Lauri Ratia as members.

 Presentation of the new member

 Michael Rosenlew
born 1959, M.Sc. (Econ.), managing director of Mikaros AB

 Independent of YIT Corporation and its major shareholders

 Primary working experience:
Mikaros AB, Managing Director, 2011-; IK Investment Partners, Managing Partner (IK) ja IK Investment Partners AB’s Managing Director 2008-2010, Managing Partner 2004-2008, Director 2001-2004, Deputy Director 1996-2001, Associate 1993-1996; Lundinvest Oy, Managing Director 1991-1992, CFO 1990-1991; Amer Oy, Group Business Controller, 1988-1990; Y-Rahoitus Oy, Financial Director, 1986-1988

 Other positions of trust:
Board memberships: Suomen Lähikauppa Oy, Moventas Oy, Finland (Chairman), TimeSystem Holding AG, Karolinska Development AB, Rindi Energi AB

 The presentation of the persons proposed as members of the YIT Board of Directors can be found at YIT’s website www.yitgroup.com/investors.

 The remuneration of the members of the Board of Directors

 The Board’s Nomination and Rewards Committee proposes that the following fees be paid to the Board of Directors: to the Chairman EUR 6,600/month (EUR 79,200/year), to the Vice Chairman EUR 5,000/month (EUR 60,000/year), to a member EUR 3,900/month (EUR 46,800/year) and a meeting fee of EUR 550 per meeting. In addition, it is proposed that EUR 550 be similarly paid to the members of the committees of the Board of Directors for each committee meeting and that per diems be paid for trips in Finland and abroad in accordance with the State’s travelling compensation regulations.

 The proposals above will be included in the invitation to the Annual General Meeting.

 For more information, please contact:
Henrik Ehrnrooth, Chairman of the Board of Directors, +358 400 412 900,henrik.ehrnrooth@poyry.com

 YIT CORPORATION

 

Virva Salmivaara
Senior Vice President, Corporate Communications

 

Distribution: NASDAQ OMX, principal media, www.yitgroup.com