Leadership team remuneration

The Remuneration Committee determines the terms of service and benefits of the Outokumpu Leadership Team members.

Compensation and benefits

The performance-based short-term incentive payable to the members of the Leadership Team based on the targets set for 2021 was based on the achievement of adjusted EBITDA, safety, and individual targets. The maximum payment was 80% of the annual base salary in line with local market practices for similar positions.

The Leadership Team members are also included in the share-based incentive plans for Outokumpu management. No separate remuneration is paid to the members of the Leadership Team for membership of the Group’s internal governing bodies.

For more information on the CEO, please see CEO's remuneration. 

Salaries and rewards paid in 2021, EUR
  Salaries and employee benefits Performance/project-related bonuses 1)  Share-based incentives 2)   Total 
Other Leadership team members 2,452,829 119,925   133,147 2,705,900 

1) Actual short-term incentive payout paid in 2021.
2) Gross, including the value of the shares on the date of delivery and taxes.

Pension benefits and terms of service

For the members of the Leadership Team, the notice period is six months for the employee and either twelve months for the company, without additional severance compensation and with the possibility to stop salary payment during the notice period if the executive finds other employment before the end of the notice period, or 18 months’ base salary at the maximum, including salary for the notice period and severance compensation.

The retirement age for the members of the Leadership Team is 63 or 65 years, depending on the country of employment and date of appointment and they participate in the local retirement programs applicable to employees in the country where their employing company is located.

The members employed in Germany are entitled to pension benefits in accordance with the rules of the German Essener Verband. The members employed in Finland participate in the Finnish TyEL pension system, in addition to which some are entitled to a defined contribution pension plan for which the maximum premium is 25% of an individual’s annual earnings, excluding share rewards. The pension benefits of the other Leadership Team members vary in line with the local market practices.

Other terms

According to the share ownership plan of the Outokumpu Group, the members of the Leadership Team are obliged to own Outokumpu shares received under share-based incentive programs to the value of their annual gross base salary. Half (i.e., 50%) of the net shares received from the share-based programs must be used to fulfil the above ownership requirement.

Guarantees and business relationships

No members of  the Leadership Team or closely related persons or institutions have any significant business relationships with the Group. 

Updated on March 29, 2022.

Related areas

Find out more about our remuneration of the CEO and leadership team as well as our share-based incentive programs. You may also check our management shareholding. 

Members of the Leadership Team
CEO's remuneration
Share-based incentive programs
Management's shareholding
Remuneration policy and remuneration statements