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.
Board remuneration
As confirmed at Outokumpu’s Annual General Meeting 2019, 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 2019 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.
Apr 16, 2019