The Board of Directors nominates the CEO and his/her possible deputy and decides on the CEO's terms of service, including base salary, fringe benefits, pension benefits and incentive schemes. The Remuneration Committee of the Board determines and approves the terms of service, including salaries, bonuses, pension benefits and other benefits, of the Outokumpu Leadership Team members other than the CEO
The Board of Directors decides on the terms and conditions of the share-based plans, their interpretation and payments of the rewards. The Board also decides on the exact contents of the performance criteria.
The Annual General Meeting decides on the remuneration of the Board.
Principles of rewarding
The compensation of the CEO and the members of the Leadership Team consist of base salary, fringe benefits, short-term incentives, share-based long-term incentives and pension arrangements. The total compensation is reviewed regularly by the Board of Directors. The review includes benchmarking the different components of total remuneration to market practices in corresponding positions.
Latest remunerations statements
Outokumpu's remuneration statement includes description of the following matters:
- Economic benefits
- Share-based incentive plans
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