Remuneration to the Board and senior executives in 2024
| (SEK 000) | Basic salary / Board fees | Variable remuneration (2) | LTI (3) | Other benefits (4) | Pension costs | Total |
|---|---|---|---|---|---|---|
| Chairman of the Board | 3,150 | - | - | - | - | 3,150 |
| Other Board members (6 people) (1) | 6,900 | - | - | - | - | 6,900 |
| Cheif Executive Officer | 11,451(6) | 7,042 (4) | 0 | 90 | 3,868 | 22,451 |
| Other senior executives (10 people) | 44,753 (7) | 14,826 | 9,794 | 947 | 11,502 | 81,822 |
1) Other Board members have received SEK 1,150,000 each.
2) Variable remuneration to the Chief Executive Officer was equal to 61 per cent of his basic salary and to other senior executives it ranged from 8–52 per cent of their basic salary.
3) Over a three-year period, the cost for LTI amounts at most to a third of the basic salary per year, but may exceed the limit during an individual period, depending on accruals.
4) Other benefits relate mainly to car benefit.
5) SEK 3,000,000 of the variable remuneration is conditional on the acquisition of shares and/or options in Latour.
6) Includes change in holiday pay debt amounting to SEK 364,000.
7) Includes change in holiday pay debt.
The Chairman of the Board and Board members receive the remuneration decided by the Annual General Meeting. No fee is paid for committee work.
Remuneration to the Chief Executive Officer and other senior executives followed the principles adopted by the 2024 Annual General Meeting. In brief, the policies entail the following. Remuneration to senior executives consists of basic salary, short-term variable remuneration (STI), long-term variable remuneration (LTI), pension and other benefits. STI can be evaluated for a period of one year and is capped at 100 per cent of the basic salary. LTI can be paid over a period of three years and is capped at one third of the basic salary per year over the three-year period. The pension premiums for defined contribution pensions will amount to a maximum of 35 per cent of the basic salary. Other senior executives are the members of Group management and business area managers, who report directly to a member of Group management.
The variable remuneration to the Chief Executive Officer is based on goals achieved during the year and amounted to 61 per cent of basic salary in 2024. Variable remuneration to other senior executives is based on the performance achieved by the units for which they are responsible. The Board also has the right to approve additional remuneration to the company management in the form of share-related incentive schemes (e.g. a call option programme) provided that they promote long-term commitment to the organisation and they are provided on market-related terms.
The Board of Directors may waive the guidelines approved at the Annual General Meeting should there be particular reason for doing so in any individual case.