In 2019, the annual target incentive opportunity for the CEO under the short-term incentive was 60% and the maximum incentive opportunity 120% of the CEO’s annual base salary. The short-term incentive for 2019 was based on the achievement of net debt and group projects.
Pension benefits and terms of service
The CEO has the right to retire at the age of 63. He participates in the Finnish TyEL pension system in addition to which he is included in a defined contribution pension plan with an annual insurance premium of 25% of his annual earnings, excluding share rewards.
The service contract of the CEO is valid until further notice. The CEO is not entitled to a specific severance payment, and the notice period is three months for both parties.