Annual Report 2013 | Suomeksi |

Remuneration of Board of Directors

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

Board members are not in 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.

The Annual General Meeting on 9 April 2013 confirmed the following compensation for the members of the Board of Directors:

Compensation for Board of Directors
EUR/year/meeting 2013 2012
Chairman 75,000 75,000
Deputy Chairman 57,000 57,000
Chairman of the Audit and Risk Committee 1) 57,000 57,000
Members 40,000 40,000
Meeting fee 2) 600 600
1) if not acting as Chairman or Deputy Chairman of the Board of Directors simultaneously.
2) is paid in double to a member who lives outside Finland in Europe and triple to a member who lives outside Europe.

Total compensation for Board of Directors

EUR Board service in 2013 Total compensation in 2013 * Board service in 2012 Total compensation in 2012 *
Board Members at 31 December 2013     
Sari Baldauf, Chairman 1 Jan-31 Dec  84,000  1 Jan-31 Dec 80,353
Christian Ramm-Schmidt,Deputy Chairman 1 Jan-31 Dec  66,000  1 Jan-31 Dec 64,479
Minoo Akhtarzand 1 Jan-31 Dec  58,000  1 Jan-31 Dec 53,349
Heinz-Werner Binzel 1 Jan-31 Dec  60,400  1 Jan-31 Dec 53,149
Ilona Ervasti-Vaintola 1 Jan-31 Dec  49,000  1 Jan-31 Dec 46,549
Kim Ignatius 1 Jan-31 Dec  67,200  11 Apr-31 Dec 48,100
Joshua Larson 1 Jan-31 Dec  70,600  1 Jan-31 Dec 67,549
Former Board Members        
Esko Aho N/A  N/A  1 Jan-11 Apr 13,000

*) includes fixed yearly fee and meeting fees

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