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.
The annual short-term incentive payable based on the targets set for 2018 could not exceed 95% of the CEO’s annual base salary, and it was based on the achievement of EBITDA, occupational safety, delivery reliability and individual targets.
Outokumpu share-based incentive programs.
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.