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Remuneration

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 2021 on the company’s website in accordance with the Governance Code. Download the Remuneration Report 2021 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 2021 as follows:

Euros

Term of office fees

Board meeting fees (1

Committee meeting fees (1

Total

Board Members of the combined company from 1 September 2021 onwards

Michael Holm Johansen, Chairman

16 000

4 800

1 200

22 000

Sanna Suvanto-Harsaae, Vice Chairman

42 000

15 600

43 200

100 800

Jyrki Mäki-Kala, Member

28 000

7 800

5 400

41 200

Torsten Steenholt, Member

24 000

14 400

7 200

45 600

Kristen Ægidus, Member

8 000

4 800

1 200

14 000

Ingeborg Flønes, Member

8 000

4 800

4 800

17 600

Nils Selte, Member

8 000

3 600

3 600

15 200

Sinikka Mustakari, Member

8 000

2 400

600

11 000

Arne Larsen, Member


3 000


3 000

Jussi Mikkola, Member

1 800

1 800

Board Members before the closing date of the merger of Altia Plc and Arcus ASA on 1 September 2021

Tiina Lencioni, Member

16 000

4 200

2 400

22 600

Jukka Ohtola, Member

16 000

5 400

1 800

23 200

Anette Rosengren, Member

16 000

10 800

-

26 800

Jukka Leinonen, Member

16 000

5 400

1 800

23 200

1) Meeting fees have been entered in the table on the year when they have been paid.

CEO

The salary and other remuneration paid in 2021 to CEO Pekka Tennilä amounted to a total of 872 031 euros:

Euros
Fixed base salary and benefits

376 747

Fringe benefits

18 248

Short-term incentives (1

145 037

Retention Incentive Program (2

331 999

Long-term incentives

-

Total remuneration

872 031

Share of fixed pay of total remuneration

45%

Share of variable pay of total remuneration

55%

1) Paid short-term incentive is based on performance during the previous year.

2) Reward based on Retention Incentive Program that covers the closing- and postclosing phase of the combination of Altia Plc and Arcus ASA.

Variable Remuneration of the CEO not yet paid but due based on the year 2021 is presented in the Remuneration Report.