The President and CEO’s remuneration consists of base salary, taxable benefits (housing benefit, car benefit, phone benefit, pension, medical and life insurance), share-based incentive and annual short-term incentive determined by the Board based on the company’s key targets.

Base salary and benefits

The CEO's annual base salary is 780,000 euros. In 2020, the annual target incentive opportunity for the CEO under the short-term incentive is 50% and the maximum incentive opportunity 100% of the CEO’s annual base salary. For the CEO, the short-term incentives targets for 2020 are Group EBITDA as well as specific targets connected to the strategy projects and performance improvement. 

The CEO is entitled to Outokumpu's Performance Share Plans for 2018–2020, 2019–2021 and 2020–2022.

Pension benefits and terms of service

The CEO has the right to retire at the age of 65. He participates in the Finnish TyEL pension system and there are no extra pension plans on top of this.

The service contract of the CEO is valid until further notice. The CEO is entitled to a severance payment of twelve (12) months, and the notice period is six (6) months for both parties.

 Salaries, fees and employee benefits  1,074,495
 Performance/project-related bonuses  347,782
 Share-based incentives  1,112,203
 Total  2,534,480

Fees, salaries and benefits paid to the CEO in 2019 include those paid to CEO Roeland Baan that year. Performance and project-related bonuses include actual short-term incentive payout for the year, and share-based incentives include the value of the shares on the date of delivery and taxes. 

More information on the CEO's remuneration, please check our remuneration statements

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Read more on the remuneration of the Leadership Team, share-based incentive programs and members of the Leadership Team.