Salary and remuneration report

Instead of the Salary and Remuneration Report, the Company will publish a Remuneration Report for the year 2020 in accordance with the new Corporate Governance Code.

FEES PAID TO THE BOARD OF DIRECTORS IN 2019
NamePosition 
in the CompanyAnnual
fee (EUR)Meeting
fee* (EUR)Salary 
(EUR)Total (EUR)
Rönkä PekkaChair of the Board48,0001,500*-49,500
Kakkonen KyöstiBoard member24,000--24,000
Kohonen AriBoard member24,000--24,000
SundellBoard member24,0001,500*-25,000
Tammela PekkaBoard member24,0001,500*-25,000
* Fee for meetings of the Audit Committee

The members of the Company’s Board of Directors elected by the Annual General Meeting of 2019 do not have an employment relationship with the Company.

The Company has no share-based remuneration schemes in place for Board members apart from the part of the annual fee paid in shares.

PRESIDENT & CEO
NamePosition 
in the CompanyMonetary
salary (EUR)Performance-based
bonuses (EUR)Fringe
benefits (EUR)Employee stock options, EURTotal (EUR)
Timo HildénPresident & CEO Jan 1–Aug 4, 2019
and Nov 25–Dec 31, 2019
156,39877,361160265,891499,810
Mikko MoilanenPresident & CEO Aug 5–Nov 25, 2019344,964.61*-3,945.30-348,909.91
*Includes costs for 12 months’ period of notice, part of which will be paid in 2020

Timo Hildén served as President & CEO of the Company from January 1 to August 4, 2019, and as temporary President & CEO from November 25, 2019. Mikko Moilanen was President & CEO of the Company from August 5 to November 25, 2019.

REMUNERATION OF OTHER MANAGEMENT
NamePosition 
in the CompanyMonetary
salary (EUR)Performance-based
bonuses (EUR)Fringe
benefits (EUR)Employee stock options, EURTotal (EUR)
Other members of the Group Management TeamMembers of the Management Team997,29290,46838,546610,7621,737,067

In 2019, the other members of the Group Management Team; i.e. the CFO, Sales and Marketing Director, R&D Director of Tonometers, Operations Director, QA Director, and R&D Director of Imaging Devices, received a total of EUR 1,737,067 in salaries and fees, fringe benefits included. Of this total sum, EUR 90,468 consisted of variable fees in the form of an annual bonus earned for the period January 1 to December 31, 2019.

Salary and Remuneration Report 2019