The Board of Directors encourages the Group Executive Team members to have direct share ownership in the company. It is recommended that the President and CEO maintains a share ownership of UPM shares corresponding to his two-year gross base salary and other members of the Group Executive Team a share ownership corresponding to a one-year gross base salary. Until the share ownership recommendation is fulfilled, the Group Executive Team members shall retain 50% of the net shares received under the Performance Share Plan.
At the end of 2018, the President and CEO and other members of the Group Executive Team owned a total of 992,749 UPM shares, corresponding to 0.19% of the total number of shares and votes in the company.
Shareholdings of the Group Executive Team
|Member||Position||UPM shares 31 December 2018|
|Jussi Pesonen||President and CEO||418,859|
|Tapio Korpeinen||CFO, EVP UPM Energy||147,064|
|Bernd Eikens||EVP, UPM Biorefining||65,462|
|Pirkko Harrela||EVP, Stakeholder Relations||80,837|
|Antti Jääskeläinen||EVP, UPM Raflatac||14,178|
|Juha Mäkelä||General Counsel||62,467|
|Jyrki Ovaska||EVP, Technology||87,627|
|Riitta Savonlahti||EVP, Human Resources||15,354|
|Winfried Schaur||EVP, UPM Communication Papers||30,969|
|Mika Sillanpää||EVP, UPM Plywood||39,388|
|Kari Ståhlberg||EVP, Strategy||30,544|