Annual Report 2010 - Outokumpu

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172 Members of the Board of Directors Ole Johansson b. 1951, Finnish citizen B.Sc. (Econ.) Outokumpu Board member 2002– Chairman of the Board 2008– Vice Chairman of the Board 2004–2008 Chairman of the Remuneration Committee President and CEO: Wärtsilä Corporation 2000– President and CEO: Wärtsilä NSD Oy 1998–2000 Chairman of the Board: Confederation of Finnish Industries EK 2011– Chairman of the board 2007-2009 and Board member 2010-: Technology Industries of Finland Vice Chairman of the Board: Varma Mutual Pension Insurance Company 2005– Vice Chairman of the Board: Confederation of Finnish Industries 2007-2009 Board member: The Research Institute of the Finnish Economy ETLA 2011– Board member: The Finnish Business and Policy Forum EVA 2011– Board member: Wärtsilä Oyj 2010– Independent of the company and its significant shareholders. Anssi Soila b. 1949, Finnish citizen M.Sc. (Eng.), B.Sc. (Econ.) Outokumpu Board member 2008– Vice Chairman of the Board 2008– Member of the Remuneration Committee Kone Oyj 1973–1999, President and CEO 1994–1999: Kone Oyj Chairman of the Board: Kemira Oyj 2003-2007, Normet Group Oy 1999-2005 and Sponda Oyj 1999–2007 Vice Chairman of the Board: Normet Group Oy 2005– Board member: DNA Oy 2008– Board member: Attendo AB 2007– Board member: Outotec Oyj 2006– Board member: Lindström Oy 1999– Independent of the company and its significant shareholders. Evert Henkes b. 1943, Dutch citizen B.Sc. (Ag. Econ.) Outokumpu Board member 2003– Member of the Remuneration Committee CEO: Shell Chemicals Ltd 1998–2003 Outokumpu Annual Report 2010 – Corporate Governance – Members of the Board of Directors
173 Board member: Marzac Investment 2009– Board member: Air Products and Chemicals Inc 2006– Board member: SembCorp Industries Ltd 2004– Board member: Tate & Lyle Plc 2003– Board member: BPB Ltd 2003-2006 and CNOOC Ltd 2003–2008 Member of International Advisory Board: CNOOC Ltd 2008–2009 Independent of the company and its significant shareholders. Victoire De Margerie b. 1963, French citizen Ph. D. (Management), LL.M., M.Pol.Sc. Outokumpu Board member 2007– Member of the Audit Committee Founder and CEO: Marzac Investment 2009– Professor of Strategic Management: Grenoble Graduate School of Business 2003– General Manager: Péchiney Plastic Bottles 2000–2002 Vice President: Sales & Marketing Péchiney Aluminum Canstock 1998–2000 Chairman of the Board: Rondol Technology Ltd. (UK) 2008– Board director and member of the Audit Committee: Ciments Francais (France) 2006– Independent of the company and its significant shareholders. Anna Nilsson-Ehle b. 1951, Swedish citizen Ph.D., M.Sc. (Eng.) Outokumpu Board member 2005– Member of the Audit Committee Director: SAFER–National vehicle and traffic safety research center 2006– Consultant: Ohde & Co 2005–2006 Managing Director: Universeum AB 1999–2004 General Manager, Strategy and Business: Volvo Car Components 1997–1998 Vice President: Volvo AB and Volvo Cars 1993–1997 Board member: Swedish National Space Board 2008– Board member: Svensk Bilprovning AB 2007– Independent of the company and its significant shareholders. Jussi Pesonen b. 1960, Finnish citizen M.Sc. (Eng.) Outokumpu Board member 2009– Member of the Audit Committee President and CEO 2004– and Senior Executive Vice President and COO, Publication Papers 2001–2004: UPM- Kymmene Oyj Outokumpu Annual Report 2010 – Corporate Governance – Members of the Board of Directors
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Annual Report 2010
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Table of contents Outokumpu - an in
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Group Executive Committee .........
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1 Outokumpu - an international stai
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3 CEO's review 2010 was characteris
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5 Next steps The managerial agenda
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7 Group key figures 2010 2009 2008
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9 Strategic themes Outokumpu's stra
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11 Excel in operations Safe working
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13 Management discussion of financi
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15 € million Operating profit Gen
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17 When the additional ferrochrome
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19 also resulted in a substantial i
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21 Group earnings per share totalle
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23 € million Stainless steel base
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25 Developing Outokumpu's corporate
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27 A significant proportion of Outo
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29 Market position In recent decade
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31 amount of stainless steel consum
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33 General Stainless - high-quality
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35 An efficient, integrated single-
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37 chromium ore was found to extend
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39 Long Products Sheffield The Shef
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41 Specialty Stainless key figures
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43 Special Coil and Plate Special C
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45 Outokumpu Stainless Tubular Prod
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47 Group level functions Outokumpu'
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49 Headquarters in Belgium Outokump
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51 Expansion of our service centre
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53 Supply Chain Management Procurem
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55 50% compared to 2009. The ferroc
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57 Research and development Product
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59 perfectly safe for use in equipm
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61 Stainless is optimal for sustain
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63 Environmental goals and results
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65 Results 2010 Sheffield melt shop
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67 Until the beginning of 2009, sla
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69 Material balance Materials used,
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71 Improving waste handling and pre
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73 Primary actions included in the
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75 Despite of protective actions ag
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77 Stainless steel in innovations a
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79 Emissions and effluents One of O
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81 ficiation and clarification basi
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83 Water - a natural resource for c
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85 Water withdrawal and discharges
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87 studies monitoring the prevailin
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89 Environmental investments furthe
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91 Outokumpu and stakeholders The s
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93 Goals for 2011 Improve HR report
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95 Personnel facts and figures Outo
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97 The US 330 321 403 Others 33 33
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99 Open communication Employee moti
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101 Compensation and benefits Outok
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103 Developing our people through c
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105 Health and safety Health and sa
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107 Everyone deserves a safe workin
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109 We value our stakeholders' opin
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111 Outokumpu and our customers - a
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113 Current and future employees Bo
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115 our home market Europe, resulte
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117 Production employees are repres
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119 Public sector support, sponsori
Page 127 and 128: 121 Regulatory framework Outokumpu
Page 129 and 130: 123 General Meeting of Shareholders
Page 131 and 132: 125 To make other proposals to Gene
Page 133 and 134: 127 Board committees The Board of D
Page 135 and 136: 129 The CEO and Deputy CEO The Chie
Page 137 and 138: 131 Group Corporate Management Outo
Page 139 and 140: 133 Vice Chairman of the Board, Soi
Page 141 and 142: 135 Key aspects of internal control
Page 143 and 144: 137 Controller meetings were organi
Page 145 and 146: 139 Risk management Outokumpu opera
Page 147 and 148: 141 Strategic and business risks St
Page 149 and 150: 143 Operational risks Operational r
Page 151 and 152: 145 Both these financial risks and
Page 153 and 154: 147 Good level of environmental man
Page 155 and 156: 149 Climate change is taken serious
Page 157 and 158: 151 Ethics, corporate responsibilit
Page 159 and 160: 153 Internal audit monitors complia
Page 161 and 162: 155 Outokumpu Annual Report 2010 -
Page 163 and 164: 157 Solidium Oy 56 440 597 30.8 The
Page 165 and 166: 159 Board authorisations Board Auth
Page 167 and 168: 161 Shares subscribed with 2003B op
Page 169 and 170: 163 programme for the earnings peri
Page 171 and 172: 165 Information for shareholders An
Page 173 and 174: 167 Stock exchange releases 2010 2
Page 175 and 176: 169 Members of the Executive Commit
Page 177: 171 Responsibility: HR strategy and
Page 181 and 182: 175 Based on its own assessment, Ou
Page 183 and 184: 177 Risk management 4.10 Processes
Page 185 and 186: 179 8 EN15 Species with extinction
Page 187 and 188: 181 Human Rights Investment agreeme
Page 189 and 190: 183 Fines for non-compliance PR9* c
Page 191 and 192: 185 Measurement techniques Economic
Page 193 and 194: 187 Days lost due to strikes is cal
Page 195 and 196: 189 • Tested the completeness, ac
Page 197 and 198: 191 8% from 2009. The clearly highe
Page 199 and 200: 193 Profitability Earnings per shar
Page 201 and 202: 195 During 2010, Outokumpu's net in
Page 203 and 204: 197 Outokumpu's strategic prioritie
Page 205 and 206: 199 Outokumpu is participating in t
Page 207 and 208: 201 Outokumpu has been systematical
Page 209 and 210: 203 completed in November 2010 and
Page 211 and 212: 205 Short-term outlook Following th
Page 213 and 214: 207 Opinion on the company's financ
Page 215 and 216: 209 Diluted earnings per share, €
Page 217 and 218: 211 Retained earnings 1 365 1 735 N
Page 219 and 220: 213 Proceeds from sale of property,
Page 221 and 222: 215 Key financial figures of the Gr
Page 223 and 224: 217 Quarterly information Income st
Page 225 and 226: 219 Share-related key figures 2010
Page 227 and 228: 221 Definitions of key financial fi
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223 Income statement of the parent
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225 Share capital 311 309 Premium f
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227 Disposals of intangible assets
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Outokumpu is a global leader in sta
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Annual Report 2010 - Outokumpu

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