The remuneration of the members of the Board of Directors and its committees are decided by the Shareholders Meeting. The Board of Directors decides on the remuneration of the CEO based on a proposal by the Human Resources Committee within the confines of the Remuneration Policy. The Board of Directors also decides on the remuneration of the senior executives based on a proposal by the CEO, which is reviewed by the Human Resources Committee.
The objective of remuneration is to promote the long-term financial success and competitiveness of the company and the favorable development of stakeholder value. Remuneration is based on predetermined and measurable performance and result criteria.
The company has a Remuneration Policy defining the principles of the remuneration of the company’s governing bodies. Remuneration of the Board of Directors and Executive Management Team is presented in note 8 in the Financial Statements 2022.