Compensation of the Board of Directors

The following table includes the compensation paid for the Board of Directors during 2016 and 2015. The amounts include fixed yearly fees and meeting fees.

Thousands of euros 2016 Board service 2016 2015 Board service 2015
Board members at 31 December 2016:      
Sari Baldauf, Chairman 87 1 Jan–31 Dec 86 1 Jan–31 Dec
Kim Ignatius, Deputy Chairman 70 1 Jan–31 Dec 68 1 Jan–31 Dec
Minoo Akhtarzand 61 1 Jan–31 Dec 61 1 Jan–31 Dec
Heinz-Werner Binzel 61 1 Jan–31 Dec 60 1 Jan–31 Dec
Eva Hamilton 56 1 Jan–31 Dec 43 31 Mar–31 Dec
Tapio Kuula 52 1 Jan–31 Dec 38 31 Mar–31 Dec
Veli-Matti Reinikkala 44 5 Apr–31 Dec - -
Jyrki Talvitie 70 1 Jan–31 Dec 66 1 Jan–31 Dec
Former board members:
Ilona Ervasti-Vaintola - - 13 1 Jan–31 Mar
Christian Ramm-Schmidt - - 13 1 Jan–31 Mar
Petteri Taalas 17 1 Jan–5 Apr 51 1 Jan–31 Dec

Board members are not in an employment relationship or service contract with Fortum, and they are not given the opportunity to participate in Fortum’s bonus or share bonus programme, nor does Fortum have a pension plan that they can opt to take part in. The compensation for the Board members is not tied to the sustainability performance of the Group.

Fees for the Board of Directors

The Annual General Meeting on 4 April 2017 confirmed the following annual fees for the members of the Board of Directors.

Thousands of euros 2017 2016
Chairman 75 75
Deputy Chairman 57 57
Chairman of the Audit and Risk Committee1) 57 57
Members 40 40
1) If not Chairman or Deputy Chairman simultaneously  

Every member of the Board of Directors receives a fixed yearly fee and a meeting fee. The fees in 2017 are the same as in previous years.

A meeting fee of EUR 600 is paid for board and committee meetings. For board members living outside Finland in Europe, the meeting fee is EUR 1,200; for board members living outside Europe, the meeting fee is EUR 1,800. For board and committee meetings held as a telephone conference, the meeting fee is paid as EUR 600 to all members. No fee is paid for decisions made without a separate meeting. Board members are entitled to travel expense compensation in accordance with the company’s travel policy.

Go back to Remuneration site