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Remuneration principles

The principles for remuneration to the President and CEO, other members of Group Management as well as the heads of corporate units are decided by the AGM, based on a proposal by the Board. The proposal is prepared by the Remuneration Committee.

Remuneration consists of fixed and variable salary, other benefits and pension. The fixed salary is to reflect the position’s requirements pertaining to skills, responsibility, complexity and the manner in which it contributes to achieving the business objectives. The fixed salary is to also reflect the senior executive’s performance and can therefore be both individual and differentiated. Other benefits, including company car and health insurance, must be market-based and only constitute a limited part of the total remuneration.

The last detailed guidelines are available on this website under the Annual General Shareholder's Meeting 2020. Detailed information about remuneration and benefits for the Board, President and senior executives is also available in the annual report.

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