New, long-term incentive plan for Metso's key management
(Thomson Reuters ONE) - Metso Corporation's company release on October 29, 2009 at 12:30 p.m.The Board of Directors of Metso Corporation approved today a new,share-based incentive plan for the Metso Group management (MetsoShare Ownership Plan 2010-2012). The Plan is continuation of the 2008approved program targeting to align the goals of the company'sshareholders and key executives in the Group in order to enhance thevalue of the company. It also aims to ensure the commitment of keymanagement and to offer them a competitive, ownership-based rewardscheme.The plan includes one three-year earning period, which will begin onJanuary 1, 2010 and will end on December 31, 2012. The Plan istargeted to approximately 100 key managers, including members of theMetso Executive Forum.Participation in the new Plan and receipt of the potential rewardrequires that the individual invests in Metso shares at the beginningof the earning period. The potential reward from the plan is based onMetso's Total Shareholder Return (TSR) and on the Earnings per Share(EPS) of the Metso Group. The maximum share reward is capped to eachindividual's annual salary multiplied by one-and-a-half (x 1.5).The amount earned in rewards will be determined on the basis of theachievement of targets after the financial statements have beenprepared in the spring of 2013. Any rewards will be paid to thosecovered by the scheme in the first half of 2013. The reward will bepaid in Metso shares. Any shares earned through the incentive planmust be held for a minimum of one year after the date of the rewardpayment.The rewards to be paid on the basis of the plan will correspond to amaximum total of approximately 400,000 Metso Corporation shares.Final allocations and maximum total number of shares will be decidedin December 2009. The shares to be transferred in possible rewardsare Metso shares obtained in public trading, and therefore theincentive plan will have no diluting effect on the share value.Metso is a global supplier of sustainable technology and services formining, construction, power generation, automation, recycling and thepulp and paper industries. We have about 28,000 employees in morethan 50 countries. www.metso.comFurther information for the press, please contact:Merja Kamppari, Senior Vice President, Human Resource Management,Metso Corporation, tel. +358 204 84 3003Further information for investors, please contact:Johanna Henttonen, Vice President, Investor Relations, MetsoCorporation, tel. +358 20 484 3253Metso CorporationOlli VaartimoExecutive Vice President and CFOKati RenvallVice President, Group CommunicationsDistribution:NASDAQ OMX Helsinki LtdMediawww.metso.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 29.10.2009 - 11:30 Uhr
Sprache: Deutsch
News-ID 7612
Anzahl Zeichen: 0
contact information:
Town:
London
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 319 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"New, long-term incentive plan for Metso's key management"
steht unter der journalistisch-redaktionellen Verantwortung von
Metso Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
