Remuneration of the Board of Directors

The Annual General Meeting decides on the rewards for the Board of Directors and the Board’s Committees annually. The proposals are prepared by the Shareholders' Nomination Board.

Konecranes remunerationThe Konecranes Annual General Meeting resolves the remuneration of the Board members. In case the term of office of a Board member ends before the closing of the next Annual General Meeting, he or she is entitled to the prorated amount of the annual remuneration calculated based on his or her actual term in office.

50 percent of annual remuneration is paid in Konecranes shares purchased on the market on behalf of the Board members. Remuneration may also be paid by transferring treasury shares based on the authorization given to the Board of Directors by the General Meeting. If payment in shares cannot be carried out due to reasons related to either the Company or a Board member, annual remuneration will be paid entirely in cash. The remuneration is paid in four equal instalments, each instalment being purchased or transferred within the two-week period following each of the Company’s interim report announcements and the Company’s financial statements release for each year.

The Konecranes Board members are not in an employment relationship or service contract with Konecranes. They do not participate in Konecranes’ incentive programs or have a pension scheme arranged by Konecranes.

 

Fees payable to the Board members as confirmed by the latest Annual General Meeting on March 28, 2019:

Fees payable to the Board of Directors in 2019

 

Annual fee

Total EUR

Chairman of the Board

140,000

Vice Chairman

100,000

Board member

70,000

Fee per Board Committee Meeting

1,500

Chairman of the Audit Committee per Audit Committee Meeting

3,000

Board members are also reimbursed by their travel expenses.

 

 

Total remuneration paid in 2018 are shown in the tables below.

Fees payable to the board of directors

 Total remuneration paid to the board of directors


Board meeting attendance