President and CEO's remuneration
The President and CEO’s compensation consists of base salary, short-term incentive plan and long-term incentive plans. The annual base salary is EUR 483,360, including salary but excluding fringe benefits (car, mobile phone, and insurances). For the year 2023, the annual target bonus is 75% of the annual base salary and maximum payment is 90% of the base salary. The earning criteria are tied to Fiskars Group’s financial targets.
The President and CEO participates in the ongoing Performance Share Plans for years 2021-2023, 2022-2024, and 2023-2025. In addition, she participates in the Ownership Plan 2023 for management for years 2023-2026, the start of which was approved by the Board of Directors in February 2023. The President and CEO is required to build up the holding of the company’s shares until the value of the holding corresponds to at least 100% of the annual gross base salary.
The President and CEO is provided with a voluntary defined contribution pension, as part of which the Company contributes 20% of the annual base salary. The President and CEO’s service contract will end by the time of the statutory retirement age. The President and CEO and the Company have a notice period of six months. Remuneration upon dismissal by the Company equals annual base salary, in addition to the salary for the six-month notice period.