Compensation committees rules of procedure

 

To the Compensation committee will be elected four members of the Board of Directors at the Board's organizational meeting. The committee's term of office is the same as the term of office for the Board of Directors. The committee elects a chairman amongst its members. The CEO has the right to attend meetings of the committee.

The Board of Directors is responsible for the duties it assignes to the committee. The committee is not autonomous in decision-making, but the Board makes decisions within its competence collectively.

The Compensation committee shall in particular:

  • prepare salaries and other benefits of the CEO and other Management Team members of the Stockmann Group
  • prepare the nomination of the CEO and other Management Team members of the Stockmann Group and finding of their successors
  • develop the Group's Management Team's incentive and remuneration systems

The committee convenes by invitation of the Chairman when necessary and at least once a year. The committee reports annually about its work to the Board.