The total annual salary of Heikki Malinen, the Group CEO, is EUR 516,600. Retirement age is in accordance with the TyEL pension legislation, there is no extra pension contract.

Remuneration paid to the President and CEO and to the Executive Board is determined by the Board of Directors based on the proposal of the Remuneration and Nomination Committee. The table below includes the total salary, fringe benefits, profit bonuses and long-term compensation paid to the President and CEO and the Executive Board during 2015 and 2014.

 

Total salary

Short-term incentives

Long-term incentives

Total

 

2015

2014

2015

2014

2015*

2014

2015

2014

President and CEO
Heikki Malinen

501,000

486,000

78,000

79,000

0

0

579,000

565,000

Other members of Excecutive Board

1,596,000

1,418,000

194,000

181,000

323,000

0

2,113,000

1,599,000

Total

2,097,000

1,904,000

272,000

260,000

323,000

0

2,692,000

2,164,000

 * Remuneration based on LTI6 during 2012-2013. There were no payments in 2014.

 

 

Retirement age

Pension benefits *)

Period of notice

Severance pay

Sanna Ahonen In accordance with the TyEL pension legislation

No supplementary pension agreement

3 months from the employee's
side and  6 months
from  the company's side

6 months' salary

Yrjö Eskola
(as of July1, 2015)
In accordance with the TyEL pension legislation

No supplementary pension agreement

3 months from the employee's
side and 6 months
from the company's side

6 months' salary

Sari Helander

In accordance with the TyEL pension legislation.

20% of annual salary
(contribution plan)

3 months from the employee's
side and 6 months
from the company's side

6 months' salary

Jaana Jokinen

In accordance with the TyEL pension legislation.

20% of annual salary
(contribution plan)

 

3 months from the employee's
side and 6 months
from the company's side

6 months' salary

Jani Jolkkonen

In accordance with the TyEL pension legislation.

No supplementary
pension agreement

6 months from both sides

6 months' salary

President and CEO
Heikki Malinen

In accordance with the TyEL pension legislation.

No supplementary
pension agreement

6 months from both sides

6 months' salary

Jukka Rosenberg

In accordance with the TyEL pension legislation.

20% of annual salary
(contribution plan)

3 months from the employee's
side and 6 months
from the company's side

6 months' salary

Nikolay Voinov

In accordance with pension legislation.

No supplementary
pension agreement

3 months from both sides

6 months' salary

*) The supplementary pension to Executive Board members appointed after September 22, 2009 (Sari Helander, Jaana Jokinen, Jukka Rosenberg) is payable under a contribution plan. For board members appointed after 2012 there is no extra pension contract.