Remuneration for members of the board of directors
The AGM 2017 resolved that the remuneration for the Board of Directors shall be EUR 531,200 (previous year EUR 357,200) to be allocated:
- EUR 175,000 (EUR 77,000) to the Chairman, whereof EUR 75,000 is additional remuneration based on the extraordinary work load in the coming year,
- EUR 49,500 (EUR 33,000) to of the six other members of the Board, whereof EUR 16,500 is an additional compensation based on the extraordinary work load in the coming year,
- EUR 10,000 to the chairman of the Audit Committee and EUR 8,200 (EUR 8,200) to each of the members of the Audit Committee and the Remuneration Committee to each of the members of the Audit and Remuneration Committees.
Guidelines for remuneration of the Senior Management of Eltel
Eltel’s overall objective is to offer senior management a competitive and market-based level of remuneration consisting of fixed and variable salary, pension and other remuneration components. Remuneration shall be determined in relation to area of responsibility, duties, expertise and performance.
The fixed salary component equals and compensates for an engaged work of management at a high professional level, creating value to Eltel. The short-term variable salary component is based on predetermined and measurable financial targets recommended by the Remuneration Committee and ultimately decided by the Board of Directors.
The pension terms of senior executives should be market based in relation to those that generally apply for comparable executives. Being an international team with members from Sweden, Finland and Denmark, the pension terms of Eltel’s senior management reflect some national differences. In addition, senior executives may be offered long term incentive schemes on market-based terms.The Board shall have the right to deviate from the guidelines in individual cases if there are particular grounds for such deviation.