The remuneration of the members of the Board of Directors and the Board committees is decided by Anora's General Meeting of Shareholders based on a proposal by the Nomination Board.
The remuneration of the members of the Board and the Board committees is decided by Anora's General Meeting of Shareholders based on a proposal by the Nomination Board.
The Nomination Board shall not be entitled to remuneration from Anora on the basis of their membership unless otherwise decided by the General Meeting of Shareholders.
The Board decides on the remuneration of the CEO. The remuneration of the Executive Management Team is decided by the Board based on a proposal by the CEO, which is initially reviewed by the Human Resources Committee.
The Company has published its Remuneration Report 2020 on the company’s website in accordance with the Governance Code. Download the Remuneration Report 2020 report here.
The Annual General Meeting 2020 adopted the Remuneration Policy for the governing bodies. Download the Remuneration Policy for the Governing Bodies here.
Members of the Board of Directors
The members of the Board of Directors received term of office fees and attendance fees in 2020 as follows:
|Euros||Term of office fees||Board meeting fees (1||Committee meeting fees (1||Total|
|Jyrki Mäki-Kala (as of 4 June 2020)||17,500||7,200||3,600||28,300|
|Anette Rosengren, jäsen (as of 15 May 2019)||24,000||21,600||-||45,600|
|Jukka Leinonen (as of 4 June 2020)||14,000||7,200||1,200||22,400|
|Kai Telanne (until 4 June 2020)||13,125||3,600||1,200||17,925|
|Kim Henriksson (until 4 June 2020)||10,500||6,000||3,600||20,100|
1) Meeting fees have been entered in the table on the year when they have been paid.
The salary and other remuneration paid in 2020 to CEO Pekka Tennilä amounted to a total of 573,679 euros:
|Fixed base salary and benefits||304,481|
|Short-term incentives (1||-|
|One-off merger project reward (2||229,530|
|Long-term incentives (3||26,888|
|Share of fixed pay of total remuneration||55%|
|Share of variable pay of total remuneration||45%|
1) Paid short-term incentives have been entered in the table on the year when they have been paid, and payment is based on performance in the previous year.
2) In 2020 the CEO received a one-time cash reward for his exceptional performance in connection with negotiation and preparation for the merger of Altia and Arcus.
3) Remuneration paid based on Cash LTI plan 2017–2019.
Remuneration of the CEO not yet paid but due based on the year 2020:
|Remuneration due based on the achievement of STI performance measures in 2020||150,000|
|Retention Incentive Programme (1|
1) Retention Incentive Programme of closing- and post-closing phase of the combination of Altia and Arcus.