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 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.