Compensation of Board of Directors
The following table includes the compensation paid for the Board of Directors during 2014 and 2013. The amounts include fixed yearly fees and meeting fees.
|Thousands of euros||2014|| Board service |
|2013|| Board service |
|Board Members at 31 December 2014|
|Sari Baldauf, Chairman||83||1 Jan ‑ 31 Dec||84||1 Jan ‑ 31 Dec|
|Kim Ignatius, Deputy Chairman 1)||67||1 Jan ‑ 31 Dec||67||1 Jan ‑ 31 Dec|
|Minoo Akhtarzand||57||1 Jan ‑ 31 Dec||58||1 Jan ‑ 31 Dec|
|Heinz‑Werner Binzel||60||1 Jan ‑ 31 Dec||60||1 Jan ‑ 31 Dec|
|Ilona Ervasti‑Vaintola||48||1 Jan ‑ 31 Dec||49||1 Jan ‑ 31 Dec|
|Christian Ramm‑Schmidt 2)||53||1 Jan ‑ 31 Dec||66||1 Jan ‑ 31 Dec|
|Petteri Taalas||37||8 Apr ‑ 31 Dec||‑||‑|
|Jyrki Talvitie||53||8 Apr ‑ 31 Dec||‑||‑|
|Former Board Members|
|Joshua Larson||19||1 Jan ‑ 8 Apr||71||1 Jan ‑ 31 Dec|
1) Deputy Chairman from 8 April 2014
2) Deputy Chairman until 8 April 2014
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. The compensation of the Board members is not tied to the sustainability performance of the Group.
Fees for the Board of Directors
The Annual General Meeting on 8 April 2014 confirmed the following annual fees for the members of the Board of Directors:
|Thousands of euros/year||2014||2013|
|Chairman of the Audit and Risk Committee 1)||57||57|
|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 meeting fee of 600 euro is also paid for committee meetings and is paid in double to a member who lives outside Finland in Europe and in triple to a member who lives outside Europe. The members are entitled to travel expense compensation in accordance with the company’s travel policy.