President and CEO, starting February 6, 2020
b. 1979, M.Sc. (Tech.)
Joined Posti in 2016
Member of the Posti Group Leadership team since 2016
Employment history
Board memberships
Senior Vice President, Postal Services
b. 1972, M.Sc. (IEM)
Joined Posti in 2013
Member of the Posti Group Leadership team since 2015
Employment history
CEO, Aditro Logistics
Born 1979
Joined Posti in 2020
Member of the Posti Group Leadership team since 2020
Employment history
SVP, Parcel and eCommerce
Born 1984, M.Sc. (Econ.)
Joined Posti in 2019
Member of the Posti Group Leadership team since 2020
Employment history
CFO
b. 1968, Sc. (Econ)
Joined Posti in 2018
Member of the Posti Group Leadership team since 2018
Employment history
Head of Transval (interim)
Born 1973, Studies in Food Sciences (Food economics, major marketing)
Joined Posti in 2019
Member of the Posti Group Leadership team since 2020
Employment history
President, Itella Russia
b. 1964, M.Sc. (Econ.)
Joined Posti in 2017
Member of the Posti Group Leadership team since 2017
Main employment history
Senior Vice President, ICT and Digitalization
b. 1968, M.Sc.
Joined Posti in 2018
Member of the Posti Group Leadership team since 2018
Employment history
Senior Vice President, Human Resources
b. 1973, M.Sc. (Econ.)
Joined Posti in 2018
Member of the Posti Group Leadership team since 2018
Employment history
Board Memberships
Senior Vice President, General Counsel and M&A
b. 1966, LL.M. (Helsinki University, Columbia University)
Joined Posti in 2016
Member of the Posti Group Leadership team since 2017
Employment history
Board memberships
Remuneration and contractual arrangements for the President & CEO
The President and CEO is appointed and, if necessary, dismissed by the Board of Directors, which also decides the terms of employment, including remuneration of the President and CEO.
The Board of Directors of Posti Group Corporation has appointed Turkka Kuusisto, (b. 1979, M.Sc. Eng.) as President and CEO of Posti Group Corporation as of February 6, 2020.
The President and CEO receives a fixed salary of EUR 37,500 per month, which includes fringe benefits (such as car, meal and mobile phone benefits) as per the company policy. In addition, the President and CEO is entitled to medical expense, risk and life insurance.
The President and CEO is included in the short-term bonus and long-term incentive schemes, the details of which are described in Posti’s Corporate Governance Statement. Remuneration of the President and CEO follows the state-ownership guidelines concerning the remuneration of executive management.
According to the guidelines, the maximum amount of the annual variable bonuses based on set targets can be at most 50% of the fixed yearly salary of the recipient of the remuneration.
If the performance of the company and the recipient is exceptionally good, the maximum amount of the annual bonuses payable can be at most 120% of the fixed yearly salary.
The President and CEO has no supplementary pension plan. The retirement age and pension of the President and CEO are determined in accordance with general pension legislation. The mutual termination notice period is six months. The President and CEO is entitled to an additional severance pay of six months’ salary in case the company terminates his service without cause.
Remuneration philosophy for the leadership team
Posti Group Corporation’s Leadership Team assists the CEO in business management and development, and coordinates Group management. In addition, it discusses and prepares matters for the Board of Directors. Key issues discussed by the Leadership Team include the Group strategy and annual business plans, financial and sales planning and monitoring, acquisitions, and other business-related investments.
The Leadership Team is not a formal decision-making body: the issues it discusses and the ensuing recommendations are submitted to Posti Group Corporation’s Board of Directors or executed under the authorization of the CEO.
Our remuneration philosophy aims to ensure that the remuneration practices are aligned with and support the strategic agenda of the company and its target corporate culture. The remuneration philosophy supports the company in attracting, keeping and motivating the best possible individuals to deliver the targeted development and results of the Group.
The purpose of our reward programs is to create a clear link between business performance, individual performance and individual remuneration. The programs recognize and reward high performance which is delivered in line with company strategy, culture and values. The reward programs contribute to business success by ensuring that the remuneration of employees and senior leaders is market competitive, making it possible to attract and retain the best talent.
Posti endorses transparency, fairness and diversity in all reward programs and in order to support successful implementation of company strategy, it is essential to maintain balance between market competitiveness and total cost of remuneration.
Posti complies with state-ownership guidelines concerning the remuneration and pension benefits of executive management.
The table below shows the total salary, Supplementary pension contribution, short term bonuses and long-term incentives. paid to the Posti Leadership Team (other than the CEO) in 2019. Total salary includes fringe benefits, holiday pay and special one time payment.
|
Total salary |
2,140,056 euros |
|
Supplementary pension |
43,391 euros |
|
Short-term bonus |
534,957 euros |
|
Long-term incentives |
80,062 euros |
See also Remuneration statement
