Remuneration to members of senior management

Remuneration for the President and for members of senior management comprises basic salary, including company car benefits, bonuses and pension costs. Members of senior management include the President, the presidents of the three subsidiaries, the Group's Chief Financial Officer and the Group's Controller.

The distribution between basic salary and bonus shall be proportional to the individual's responsibilitites and authority. For the President, the bonus ceiling is maximized at 100 percent of basic salary. For other members of senior management, the bonus ceiling is maximized at 50 to 100 percent of basic salary, excluding company car benefits. The bonus is based on actual performance in relation to individually established goals.

Incentive programs

Currently, there are no outstanding share or share-related incentive programs.