Remuneration

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 2017 as follows:

EUR

Monthly fees

Attendance fees

Total

Sanna Suvanto-Harsaae

33 000

27 600

60 600

Annikka Hurme

21 600

10 200

31 800

Kim Henriksson

17 400

19 200

36 600

Minna Huhtaniska

4 350

 

4 350

Jarmo Kilpelä

7 250

4 200

11 450

Tiina Lencioni

13 533

7 200

20 733

Kasper Madsen

11 600

7 200

18 800

Torsten Steenholt

 

 

 

Kai Telanne

17 400

9 000

26 400

CEO

The salary and other remuneration paid in 2017 to CEO Pekka Tennilä amounted to a total of 610 560 euros:

Fixed base salary

312 870 euros

Fringe benefits

2 130 euros

Annual incentive for 2016

70 560 euros

The total remuneration of the CEO for 2017 includes an additional remuneration payment in the amount of 225 000 euros for exceptional performance. The Board of Directors approved the additional remuneration payment based on the recommendation of the Board’s Human Resources Committee.

Other executives

The salary and other remuneration paid in 2017 to the members of the Executive Management Team (other than the CEO) amounted to a total of 1 915 622 euros.

Fixed base salary

1 130 779 euros

Fringe benefits

39 411 euros

Annual incentive for 2016

291 913 euros

The total remuneration of the members of the Executive Management Team for 2017 includes additional remuneration payment in the amount of 453 519 for exceptional performance. The Board of Directors approved the additional remuneration payment based on the recommendation of the Board’s Human Resources Committee.