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 memebers of the Board of Directors
| Thousands of euros | 2017 | 2016 |
|---|---|---|
| Sari Baldauf, Chairman | 84 | 87 |
| Matti Lievonen, Deputy Chairman (since 4 April 2017) | 49 | - |
| Heinz-Werner Binzel | 57 | 61 |
| Eva Hamilton | 54 | 56 |
| Kim Ignatius, Chaiman of the Audit and Risk Committee | 67 | 70 |
| Anja McAlister (since 4 April 2017) | 47 | - |
| Veli-Matti Reinikkala (since 5 April 2016) | 58 | 44 |
| Former board members: | ||
| Minoo Akhtarzand (until 4 April 2017) | 16 | 61 |
| Tapio Kuula (until 7 November 2017) | 43 | 52 |
| Petteri Taalas (until 5 April 2016) | - | 17 |
| Jyrki Talvitie (until 4 April 2017) | 17 | 70 |
Fees for the Board of Directors
The Annual General Meeting on 28 March 2018 confirmed the following annual fees for the members of the Board of Directors.
| Thousands of euros | 2018 | 2017 |
|---|---|---|
| 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 2018 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.