Board remuneration

Remuneration of members of the Board of Directors is decided by the shareholders at the general meeting annually. A proposal for the board remuneration to the general meeting is prepared by the Board of Directors’ Nomination and Governance Committee.


When preparing its proposal, the committee considers, among other things, the development of director remuneration and the level of director remuneration in peer companies. The committee has underlined the importance of aligning the interests of directors with those of shareholders and prefers payment of board remuneration in the form of shares.

Board remuneration in 2020

The Annual General Meeting resolved that the Chair of the Board will be paid an annual base fee of EUR 190,000, the Deputy Chair of the Board EUR 135,000 and other members of the Board EUR 110,000. The annual base fee will be paid in the company shares and cash so that approximately 40% of the fee will be paid in the company shares to be purchased on the Board members' behalf, and the rest in cash. The company will pay any costs and transfer tax related to the purchase of the company shares. 

The AGM further resolved that the following annual committee fees will paid to the members of the Board of Directors' committees:

  • the Audit Committee Chair EUR 35,000 and members EUR 15,000
  • the Remuneration Committee Chair EUR 20,000 and members EUR 10,000 and
  • the Nomination and Governance Committee Chair EUR 20,000 and members EUR 10,000.

The annual committee fees will be paid in cash. 

According to the purchase order issued by the Company, the shares were purchased within two (2) weeks following the release of the Company's Interim Report for the period 1 January-31 March 2020.


Board fees in 2019

Director ​Annual fee
40% in shares
60% in cash
​Annual committee
Total remuneration
Björn Wahlroos,
​190,000 ​76,000 ​114,000 20,000​ 210,000
​Berndt Brunow,
Deputy Chairman
​135,000 ​54,000 ​81,000 10,000​ ​145,000
​Henrik Ehrnrooth ​110,000 ​44,000 66,000 10,000​ 120,000
​Piia-Noora Kauppi ​110,000 ​44,000 ​66,000 35,000​ 145,000
​Marjan Oudeman 110,000 ​44,000 ​66,000 15,000​ ​125,000
​Jussi Pesonen        ​-        ​-          ​- ​-          ​-
​Ari Puheloinen 110,000 ​44,000 ​66,000 10,000​ ​120,000
Veli-Matti Reinikkala ​110,000 ​44,000 ​66,000 20,000​ 130,000
​Suzanne Thoma ​110,000 ​44,000 ​66,000 10,000​ 120,000
​Kim Wahl 110,000 ​44,000 ​66,000 15,000​ 125,000
Total ​1,095,000 438,000 ​657,000 145,000​ 1,240,000

Board remuneration in 2018

Information on the board remuneration in 2018 and in the previous years is available in the Remuneration Statements published by the company.