SanomaWSOY's Annual General Meeting (AGM) has elected the Company's President & CEO, Jaakko Rauramo, as SanomaWSOY's new Chairman and CEO as of March 29, 2001. The previous Chairman of the Board, Aatos Erkko, asked to stand down at the AGM after 48 years of service with SanomaWSOY and Sanoma Corporation. Erkko will continue as a member of the Board.
HANNU SYRJÄNEN APPOINTED TO THE BOARD
Under the Company's Articles of Association, the terms of office of Board members begin at the conclusion of the AGM and end after the following third AGM. During 2000, the Board comprised the following members: Aatos Erkko (Chairman), Esko Koivusalo (Vice Chairman), Jane Erkko, Marjukka af Heurlin, Paavo Hohti, L.J. Jouhki, Kyösti Järvinen, Robin Langenskiöld, Jaakko Rauramo, Rafaela Seppälä, and, until July 18, 2000, Antero Siljola. Their term of office will end at the conclusion of the AGM in 2002.
Hannu Syrjänen has now been appointed to the Board to replace Antero Siljola, who resigned last year, and will serve until the end of the Board's current term of office.
SVH PriceWaterhouseCoopers Oy have been elected as the Company's Auditors, with Authorised Public Accountant Johanna Perälä as Lead Auditor, assisted by Authorised Public Accountant Pekka Nikula. Authorised Public Accountant Juha Tuomala will act as Deputy Auditor.
The AGM decided that the following monthly compensation shall be paid to Board members: EUR 5,000 to the Chairman, EUR 4,000 to the Vice Chairman, and EUR 3,000 to members. A sum of EUR 170 shall be paid per meeting to those attending. Auditors' fees shall be paid as invoiced.
A DIVIDEND OF EUR 0.47 PER SHARE
The AGM considered the consolidated financial statements and those of the Parent Company and discharged the Board and the President & CEO from liability for the 2000 financial year. In accordance with the Board's proposal, a dividend of EUR 0.47 (FIM 2.79) shall be paid per share. The record date will be April 3, 2001, and the dividend payment date, April 10, 2001.
The AGM also approved various technical amendments to the Articles of Association as detailed in the Notice to the Meeting.
SanomaWSOY's Board of Directors is now in session to decide the successor to Jaakko Rauramo, who has been appointed Chairman and CEO. Hannu Syrjänen, President & CEO of Rautakirja Oyj, will be proposed as his successor.