Remuneration of senior executives
By Senior Executives is meant the President and Executive Vice President level, currently seven individuals.
The remuneration shall consist of a fixed salary, a variable salary, a pension and other remuneration such as a company car. The total remuneration shall be on market terms and support the interest of the shareholders by enabling the company to attract and retain senior executives.
The fixed salary shall be renegotiated annually and take into account the area of responsibility, the competence, performance and experience of the individual. The variable portion of the salary is based on financially quantifiable target fulfilment. The individual shall receive a maximum amount equivalent to six months’ salary.
For detailed information, see note 6 (pages 88-89) in the Annual Report 2020.