Executive Leadership Team’s remuneration
The Executive Leadership Team’s Annual Bonus Plan in 2017 was designed to provide a target bonus equivalent to 30–75% of their annual salary. The earning criteria were tied to the Group’s financial targets and, secondarily, to personal, business-specific targets. In 2017, the financial targets were mainly related to net sales growth, adjusted operating profit, and cash flow. Members of the Executive Leadership Team are included in the Long-term Incentive Plan.
Members of the Group’s Executive Leadership Team based in Finland have a voluntary, contribution-based pension insurance under which the Company contributes 16–20% of their prior year annual salaries excluding bonuses. Their retirement ages vary between 60 and 68 years.
In 2017, salaries, benefits, and bonuses paid to the members of the Executive Leadership Team (excluding the President and CEO) totaled EUR 2,343,071. Base salaries accounted for EUR 1,663,397. Bonuses for the 2016 result amounted to EUR 308,218, and bonuses for 2014–2016 through the Long-term Incentive Plan came to EUR 371,455.
Remuneration of the other members of the Executive Leadership Team in 2017
|Basic salary (EUR)||1,663,397||2,773,060||2,097,270|
|Annual bonus for previous year (EUR)||308,218||1,005,364||554,907|
|Bonus paid through long-term
incentive plan (EUR)
|Voluntary pension contribution
by the company (EUR)
The figures in this remuneration are presented on a cash basis. The remuneration of the President and CEO and the rest of the Executive Leadership Team are presented on an accrual basis in the notes to Fiskars financial statements for 2017.
Executive Leadership Team Members:
- Teemu Kangas-Kärki, January 1–February 15, 2017 and October 9–December 31, 2017
- Nina Ariluoma, as of January 1, 2017
- Ulrik Garde Due, as of January 1, 2017
- Sari Pohjonen, as of February 10, 2017
- Paul Tonnesen, as of March 31, 2017
Updated February 20, 2018