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.
The Annual General Meeting 2020 adopted the Remuneration Policy for the governing bodies.
Members of the Board of Directors
The members of the Board of Directors received term of office fees and attendance fees in 2020 as follows:
|
Euros |
Term of |
Board meeting |
Committee meeting fees (1 |
Total |
|
Sanna Suvanto-Harsaae |
48 000 |
21 600 |
25 200 |
94 800 |
|
Jyrki Mäki-Kala (as of 4 June 2020) |
17 500 |
7 200 |
3 600 |
28 300 |
|
Tiina Lencioni |
24 000 |
10 800 |
4 800 |
39 600 |
|
Jukka Ohtola |
24 000 |
10 800 |
2 400 |
37 200 |
|
Anette Rosengren, jäsen (as of 15 May 2019) |
24 000 |
21 600 |
- |
45 600 |
|
Torsten Steenholt |
24 000 |
21 600 |
7 200 |
52 800 |
|
Jukka Leinonen (as of 4 June 2020) |
14 000 |
7 200 |
1 200 |
22 400 |
|
Kai Telanne (until 4 June 2020) |
13 125 |
3 600 |
1 200 |
17 925 |
|
Kim Henriksson (until 4 June 2020) |
10 500 |
6 000 |
3 600 |
20 100 |
1) Meeting fees have been entered in the table on the year when they have been paid.
CEO
The salary and other remuneration paid in 2020 to CEO Pekka Tennilä amounted to a total of 573 679 euros:
|
|
Euros |
|
Fixed base salary and benefits |
304 481 |
|
Fringe benefits |
12 780 |
|
Short-term incentives (1 |
- |
|
One-off merger project reward (2 |
229 530 |
|
Long-term incentives (3 |
26 888 |
|
Total remuneration |
573 679 |
|
Share of fixed pay of total remuneration |
55 % |
|
Share of variable pay of total remuneration |
45 % |
1) Paid short-term incentives have been entered in the table on the year when they have been paid, and payment is based on performance in the previous year.
2) In 2020 the CEO received a one-time cash reward for his exceptional performance in connection with negotiation and preparation for the merger of Altia and Arcus.
3) Remuneration paid based on Cash LTI plan 2017–2019
Remuneration of the CEO not yet paid but due based on the year 2020
| Short-term incentives | Euros |
| Remuneration due based on the achievement of STI performance measures in 2020 |
150 000 |
| Retention Incentive Programme (1 | |
| Long-term incentives | - |
1) Retention Incentive Programme of closing- and post-closing phase of the combination of Altia and Arcus.
Related content
Board of Directors
The Board of Directors of Altia consists of no less than one and no more than five members in addition to the chairman and vice chairman. On this page, you'll find the biographies of the members of Altia's Board of Directors. Read more about the role of the Board of Directors on our Governance pages.
Executive Management Team
The Executive Management Team is chaired by the CEO of Altia and comprises other senior management appointed by the Board of Directors. On this page you'll find the biographies of the members of EMT. Read more about the role of the Executive Management Team on our Governance pages.