Annual Report 2014 | Suomeksi |

4 Employee costs

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EUR million 2014 2013
Personnel expenses
Wages, salaries and remunerations 28 26
Indirect employee costs
Pension costs 5 5
Other indirect employee costs 1 1
Other personnel expenses 1 1
Total 35 33
EUR thousands 2014 2013
Compensation for the President and CEO
Salaries and fringe benefits 1) 1,005 795
Performance bonuses 2) 127 22
Share‑based remuneration 235 448
Pensions (statutory) 188 137
Pensions (voluntary) 255 204
Social security expenses 57 48
Total 1,867 1,654
Compensation for the Board of Directors 477 455
1) Amount is impacted by the sick leave during 2013.
2) Performance bonuses are based on estimated amounts.
Compensation above is presented on accrual basis. Paid salaries and remunerations for the President and CEO in 2014 were EUR 1,592 thousands (2013: 1,784).
Timo Karttinen, who assumed responsibility for the duties of the President and CEO during Tapio Kuula's sick leave in December 2014, did not receive any compensation during 2014 for these additional duties.
In 2013 a compensation of EUR 80 thousands was paid to Markus Rauramo for assuming the duties of the President and CEO during March‑November 2013.
For the President and CEO Tapio Kuula the retirement age of old‑age pension is 63. The pension obligations are covered through insurance company.
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 systems, nor does Fortum have a pension plan that they can opt to take part in.
See also Note 12 Employee benefits and
Note 32 Pension obligations in the Consolidated financial statements.
2014 2013
Average number of employees 301 326


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