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.
Management ownership
At the end of 2019, the President and CEO and other members of the Group Executive Team owned a total of 1,182,117 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 | 50,292 |
| Mika Sillanpää | EVP, UPM Plywood | 52,719 |
| Kari Ståhlberg | EVP, Strategy | 41,971 |
