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 2019, the President and CEO and other members of the Group Executive Team owned a total of 1,177,117 UPM shares, corresponding to 0.22% of the total number of shares and votes in the company.
Shareholdings of the Group Executive Team
|Member||Position||UPM shares 31 December 2019|
|Jussi Pesonen||President and CEO||466,472|
|Tapio Korpeinen||CFO, EVP UPM Energy||168,013|
|Bernd Eikens||EVP, UPM Biorefining||84,785|
|Pirkko Harrela||EVP, Stakeholder Relations||92,264|
|Antti Jääskeläinen||EVP, UPM Raflatac||23,700|
|Juha Mäkelä||General Counsel||73,894|
|Jaakko Nikkilä||EVP, UPM Specialty Papers (as of 1 July 2019)||2,172|
|Jyrki Ovaska||EVP, Technology||99,054|
|Riitta Savonlahti||EVP, Human Resources||26,781|
|Winfried Schaur||EVP, UPM Communication Papers||45,292|
|Mika Sillanpää||EVP, UPM Plywood||52,719|
|Kari Ståhlberg||EVP, Strategy||41,971|