The Annual General Meeting decides on the remuneration of the Board of Directors. The Annual General Meeting 2018 decided that 40 % of the annual remuneration will be paid in the Company’s shares to be purchased from the market at a price formed in public trading and in accordance with the applicable insider regulations.
Board remuneration
The fees to the board members until the next Annual General Meeting, confirmed by the 2018 Annual General Meeting, are as follows:
|
BOARD REMUNERATION |
|
|
|
Position |
Annual remuneration, euros |
Meeting fee, EUR/meeting |
|
Chairman of the Board |
160,000 |
600 |
|
Vice Chairman of the Board |
90,000 |
600 |
|
Board members |
70,000 |
600 |
The meeting fee is EUR 1,200 when travelling to a meeting held outside the Board member’s country of residence.
|
REMUNERATION PAID IN 2017 |
|
|
|
|
|
Meeting remuneration |
Annual remuneration |
Total remuneration |
|
Chairman of the Board, Jorma Ollila |
7,800 |
140,000 |
147,800 |
|
Vice Chairman of the Board, Olli Vaartimo |
9 000 |
80,000 |
89,000 |
|
Board member, Markus Akermann |
14,400 |
60,000 |
74,400 |
|
Board member, Roberto Gualdoni |
18,000 |
60,000 |
78,000 |
|
Board member, Stig Gustavson |
2,400 |
2,400 |
|
|
Board member, Kati ter Horst |
9,000 |
60,000 |
69,000 |
|
Board member, Heikki Malinen |
7,800 |
60,000 |
67,800 |
|
Board member, Saila Miettinen-Lähde |
4,200 |
4,200 |
|
|
Board member, Elisabeth Nilsson |
4,800 |
4,800 |
|
|
Board member, Eeva Sipilä |
6,600 |
60,000 |
66,600 |
Following the MAR regulation Outokumpu publishes the managers' transactions with Outokumpu's financial instruments as stock exchange releases.
|
SHARES OWNED BY THE MEMBERS OF THE BOARD OF DIRECTORS ON DEC 31, 2017 |
|
|
Member |
Shares |
|
Kari Jordan |
* |
|
Olli Vaartimo |
32,777 |
|
Kati ter Horst |
9,169 |
|
Heikki Malinen |
28,617 |
|
Eeva Sipilä |
7,981 |
|
Pierre Vareille |
* |
|
Total |
78,544 |
*Please note that Kari Jordan and Pierre Vareille were not Outokumpu Board members on December 31, 2017.
Please note that the table includes the shares owned by current members of the Board.
May 17, 2018