The General Meeting decides on the fees paid to the Board of Directors. Fees do not apply to Board positions in the subsidiaries. If a member of the Board of Directors is employed by Endomines, no separate remuneration is paid for Board work. The salaries of the CEO and senior executives are determined by the Board of Directors on the basis of the Remuneration Committee’s proposal. The Company has also established guidelines concerning remuneration to senior executives.
Remuneration to the Board of Directors
In 2018, the fees paid to the Board of Directors, including the fees for Committee work, totaled SEK 1,192 thousand. Distribution among Board members is described in Note 5 to the Annual Report 2018 (Swedish).
Remuneration to senior executives
The remunerations to the CEO and other senior executives comprise the basic salary, variable remuneration, other benefits, and pension. The basic salary that forms the basis of the total remuneration is proportional to the executive member’s scope of responsibilities and authority.
The remunerations paid to the senior executives Saila Miettinen-Lähde, Marcus Ahlström and Seppo Tuovinen in 2018 totaled SEK 6,262 thousand, of which SEK 3,080 thousand constituted remuneration to the CEO of Endomines AB. The remunerations include basic salary, bonus, other benefits, and pension contributions. Other benefits refer primarily to company car and phone. The remunerations paid to senior executives are specified in Note 5 to Annual Report 2018 (Swedish).
There are currently no share-based or share-related incentive plans in place.