Board remuneration

The Annual General Meeting decides annually on the fees to be paid to the members of the Board of Directors for one term of office at a time. 

As confirmed at Outokumpu’s Annual General Meeting 2018, the annual remuneration for the members of the Board are the following:

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 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. 

The annual fee is paid once a year, and members of the Board are not entitled to any other share-based rewards. In addition to their annual remuneration, all the members of the Board of Directors are paid a meeting fee of EUR 600 per meeting for each member of the Board of Directors and EUR 1,200 per meeting when travelling to a meeting held outside the Board member’s country of residence.

Information on fees paid to the Board of Directors in 2018 can be found in the remuneration statement.

REMUNERATION PAID IN 2018

Meeting remuneration

Annual remuneration

Total remuneration

Chairman of the Board, Kari Jordan

4,200

160,000

164,200

Chairman of the Board, Jorma Ollila

2,400

2,400

Vice Chairman of the Board, Olli Vaartimo

6,600

90,000

96,600

Board member, Markus Akermann

4,800

4,800

Board member, Roberto Gualdoni

2,400

2,400

Board member, Kati ter Horst

6,600

70,000

76,600

Board member, Heikki Malinen

6,600

70,000

76,600

Board member, Eeva Sipilä

5,400

70,000

75,400

Board member, Pierre Vareille

7,200

70,000

77,200

 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, 2018

Member

Shares

Kari Jordan

81,387

Olli Vaartimo

55,182

Kati ter Horst

14,150

Heikki Malinen

33,598

Eeva Sipilä

12,962

Pierre Vareille

24,981

Total

222,260

Please note that the table includes the shares owned by current members of the Board. 

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Feb 27, 2019