Compensation of the Board of Directors

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 paid to the members of the Board of Directors 2016-2019

Thousands of euros 2019 2018 2017 2016
Eva Hamilton 54 54 54 56
Kim Ignatius, Chair of the Audit and Risk Committee (until 23 April 2020) 67 65 67 70
Essimari Kairisto Chair of the Audit and Risk Committee (since 23 April 2020) 56 42 - -
Matti Lievonen, Chair (since 4 April 2017) 89 80 49 -
Klaus -Dieter Maubach, Deputy Chair (28 March 2018-23 April 2020) 71 54 - -
Anja McAlister  59 60 47 -
Veli-Matti Reinikkala (Deputy Chair since 23 April 2020) 58 54 58 44
Philipp Rösler  44 - - -
Former board members:
Minoo Akhtarzand (until 4 April 2017) - - 16 61
Sari Baldauf (until 28 March 2018) - 20 84 87
Heinz-Werner Binzel (until 26 March 2019) 12 54 57 61
Tapio Kuula (until 7 November 2017) - - 43 52
Marco Ryan (26 March-1 August 2019) 19 - - -
Petteri Taalas (until 5 April 2016) - - - 17
Jyrki Talvitie (until 4 April 2017) - - 17 70

The Annual General Meeting on 23 April 2020 confirmed the following annual fees for the members of the Board of Directors

Euros 2020 2019 2018
Chair 77 200 75 000 75 000
Deputy Chair 57 500 57 000 57 000
Chair of the Audit and Risk Committee1) 57 500 57 000 57 000
Members 40 400 40 000 40 000
1) If not Chair or Deputy Chair simultaneously    

Every member of the Board of Directors receives a fixed yearly fee and a meeting fee. 

In addition, a fee of EUR 600 will be paid for each board meeting and board committee meeting. For members living outside Finland in Europe, the fee for each meeting will be doubled, and for members living outside Europe, the fee for each meeting will be tripled. For members living in Finland, the fee for each board and board committee meeting will be doubled for meetings held outside Finland and tripled for meetings held outside Europe. For board and committee meetings held as a telephone conference, the basic fee will be paid to all members.

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