Election and Term

The General Meeting of shareholders elects the Board of Directors of Konecranes Plc. According to the Articles of Association the Board of Directors of Konecranes Plc shall have a minimum of five (5) and maximum of eight (8) members elected at each Annual General Meeting for a term of one (1) year. The Board of Directors elects a Chairman from among its members. As of June 2005 a Vice Chairman is also elected.

The number of members of the Board was confirmed at eight at the Annual general Meeting 2008. Mr. Svante Adde, Mr. Kim Gran, Mr. Stig Gustavson, Mr. Matti Kavetvuo, Ms. Malin Persson, Mr. Timo Poranen and Mr. Björn Savén  were re-elected. Mr Mikael Silvennoinen, managing director of Pohjola Bank plc was elected as a new member of the Konecranes Board of Directors. The term of the Board ends at the next Annual General Meeting.

Board member candidates notified to the Board shall be disclosed in the invitation to the General Meeting, provided that the proposal has been made by the Nomination and Compensation Committee or if the candidate is supported by at least 10 % of the total votes of all the shares of the company and the candidate has given his/her consent to the election. The candidates proposed after the delivery of the invitation shall be disclosed separately.