Remuneration statement

Remuneration and other benefits of the members of the Board of Directors

The annual general meeting confirmed the following monthly fees for the Board members:

• Chair of the Board EUR 2,400
• Deputy Chair of the Board EUR 1,300
• Board members EUR 1,000

In addition, Board members were paid a meeting fee of EUR 600 for each Board meeting and committee and Nomination Board meeting attended by the member.

Further information from the Remuneration principles and remuneration statement for 2019.

Remuneration of President & CEO

The service terms of the President & CEO have been specified in a separate President & CEO service contract which is approved by the Board of Directors. The retirement age and pension accrual of the President & CEO are determined in accordance with general pension legislation.

The total remuneration of the President & CEO consisted in 2019 of a fixed total salary, a one-year bonus scheme (max. 40 per cent of the annual pay for the earnings year), and a three-year long-term incentive scheme (max. 35 per cent of the annual pay for the earnings year in the 2016–2018 scheme and max. 40 per cent in the 2017–2019 scheme maturing in 2020).

The criteria for the President & CEO’s one-year bonus scheme in both 2018 and 2019 were the company’s results, customers’ trust, success in developing the electricity market, functionality of the workplace community, and leadership. As strategic projects, success in developing the electricity market was measured in 2018 and success in key investment projects (construction of the ‘Forest Line’ transmission connection and the establishment of Datahub Oy) was measured in 2019.

The metrics for the long-term incentive schemes were system security, electricity market functionality and shareholder value, in both the long-terms schemes 2016–2018 and the 2017–2019 scheme maturing in 2020. Corporate social responsibility has been taken into account in both the one-year incentive scheme and the long-term incentive scheme when determining their metrics, which are partly the same as the responsibility KPIs defined by the company.

In 2018, Fingrid showed exceptional performance across all areas of its business, which led to higher-than-usual remuneration for both the President & CEO and the personnel. The rewards earned in 2018 were paid in spring 2019.

There is no share or share-based remuneration scheme or supplementary pension scheme in place for the President & CEO on behalf of the company.

The mutual President & CEO period of notice is six months. If the company dismisses the President & CEO, an amount of money corresponding to nine months’ fixed salary is paid to the President & CEO in addition to the salary for the period of notice.

Remuneration of executive management group

The total remuneration of the members of the executive management group consisted of a fixed total salary, a one-year bonus scheme, and a three-year long-term incentive scheme. The maximum amount of the one-year bonus scheme was 25 per cent of the annual pay for the earnings year. The annual maximum amount of the long-term incentive scheme was also 25 per cent of the annual pay for the earnings year.

The metrics for the executive management’s one-year bonus scheme in 2019 were the company’s results, customers’ confidence, functionality of the workplace community, and leadership. The metrics additionally comprised the attainment of the key objectives of each member of the executive management group. The metrics for the long-term incentive scheme are system security, electricity market functionality and shareholder value.

Corporate social responsibility has been taken into account in both the one-year incentive scheme and the long-term incentive scheme when determining their metrics, which are partly the same as the responsibility KPIs defined by the company.

There is no share or share-based remuneration scheme or supplementary pension scheme in place for Fingrid’s executive management group on behalf of the company.


Updated 27.2.2020