The remuneration of the members of the Board and the Board committees is decided by the General Meeting of Shareholders of the Company based on a proposal by the Nomination Board.
The remuneration of the members of the Board and the Board committees is decided by the General Meeting of Shareholders of the Company based on a proposal by the Nomination Board.
The Nomination Board shall not be entitled to remuneration from the Company on the basis of their membership unless otherwise decided by the General Meeting of Shareholders.
The Board decides on the remuneration of the CEO. The remuneration of the Executive Management Team is decided by the Board based on a proposal by the CEO, which is initially reviewed by the Human Resources Committee.
The Company has published its Remuneration Statement on the Company’s website in accordance with the Governance Code.
Members of the Board of Directors
The members of the Board of Directors received term of office fees and attendance fees in 2018 as follows:
|
EUR |
Term of office fees |
Attendance fees |
Total |
| Sanna Suvanto-Harsaae | 33 000 | 36 000 | 69 000 |
|
Kai Telanne |
20 900 |
13 800 |
34 700 |
|
Annikka Hurme |
18 100 |
10 800 |
28 900 |
|
Kim Henriksson |
17 400 |
26 400 |
43 800 |
|
Tiina Lencioni |
17 400 |
12 600 |
30 000 |
|
Jukka Ohtola |
14 900 |
9 000 |
23 900 |
|
Torsten Steenholt |
17 400 |
16 800 |
34 200 |
CEO
The salary and other remuneration paid in 2018 to CEO Pekka Tennilä amounted to a total of 628 950 euros:
|
Fixed base salary |
314 612 euros |
|
Fringe benefits |
14 338 euros |
|
Annual incentive for 2017 |
0 euros |
| One-off reward 2018* | 300 000 euros |
Other executives
The salary and other remuneration paid in 2018 to the members of the Executive Management Team (other than the CEO) amounted to a total of 1 834 701 euros.
|
Fixed base salary |
1 040 111 euros |
|
Fringe benefits |
41 125 euros |
|
Annual incentive for 2017 |
0 euros |
| One-off reward 2018* | 753 465 euros |
* One-off reward
The Board of Directors decided in 2018 on the payment of a one-off reward to the CEO and the members of the Executive Management Team. The persons entitled to the reward were committed, as a prerequisite for the reward, to personally investing in Altia a sum, after taxes and other deductions, corresponding to the net sum of the received reward by subscribing for shares in the directed share issue to the permanent employees of Altia in Finland and Sweden and for the members of the Executive Management Team in connection with the listing of Altia on Nasdaq Helsinki Ltd. The reward paid to the CEO was 300 000 euros and to the other members of the Executive Management Team 753 465 euros in total.
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