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Remuneration and shareholdings of the Board of Directors

The Annual General Meeting (AGM) is responsible for remuneration matters related to the Board of Directors.

The AGM in 2013 decided to pay the following remuneration to the Board:

  • Chair, EUR 66,000 a year
  • Vice Chair, EUR 49,200 a year
  • Members, EUR 35,400 a year.

In addition, members participating in Board meetings and meetings convened by the Board's committees receive a payment of EUR 600 per meeting, together with their traveling costs, in accordance with the Company's travel policy. A payment of double this, EUR 1,200 per meeting, is made to Board members living outside Finland.

Board members are not covered by the Company’s remuneration systems and do not receive any performance- or share-related payments.

The shareholdings of members and the remuneration paid to them are detailed in the following table. Information on shareholdings cover Neste Oil shares directly, through organizations in which those concerned have a controlling interest, and in their capacity as trustees.

Members of the Board,remuneration
as of 31 December 2013
Annual
remuneration,
EUR
Attendance
payments,
EUR
Annual
remuneration,
EUR
2013 2013 2012
Jorma Eloranta 66,000 10,200 61,800 1)
Maija-Liisa Friman 49,200 10,200 45,750 2)
Per-Arne Blomquist 26,550 3) 18,000
Michiel Boersma 35,400 22,800 35,400
Laura Raitio 35,400 11,400 35,400
Willem Schoeber 26,550 3) 16,800
Kirsi Sormunen 26,550 3) 9,000
1) The Chair of the Board of Directors receives an annual remuneration of EUR 66,000, and Jorma Eloranta was paid the relevant portion of this for his service between 28 March and 31 December 2012. The Vice Chair of the Board receives an annual remuneration of EUR 49,200, and Jorma Eloranta was paid the relevant portion of this for his service between 1 January and 28 March 2012.
2) The Vice Chair of the Board receives an annual remuneration of EUR 49,200, and Maija-Liisa Friman was paid the relevant portion of this for her service between 28 March and 31 December 2012. The members of the Board receive an annual remuneration of EUR 35,400, and Maija-Liisa Friman was paid the relevant portion of this between 1 January and 28 March 2012.
3) Annual remuneration paid to the Member of the Board was EUR 35,400, of which Per-Arne Blomquist, Willem Schoeber and Kirsi Sormunen received remuneration for the period between 4 April and 31 December 2013.
Members of the Board, shareholdings
as of 31 December 2013
2013 2012 Change, pcs
Jorma Eloranta 14,000 12,000 2,000
Maija-Liisa Friman 6,000 6,000
Per-Arne Blomquist 3,000 3,000
Michiel Boersma 5,000 5,000
Laura Raitio 1,500 1,500
Willem Schoeber 1,500
Kirsi Sormunen
Members of the Board have not received any share-related payments, but acquired the shares they own at their own expense.
Members of the Board,
remuneration and shareholdings,
1 January 2013–4 April 2013*)
Annual
remuneration,
EUR
Attendance
payments,
EUR
Annual
remuneration,
EUR
2013 2013 2012
Nina Linander 8,850 4,800 35,400
Hannu Ryöppönen 8,850 4,800 35,400
Markku Tapio 8,850 1,800 35,400
*) Nina Linander, Hannu Ryöppönen, and Markku Tapio left Neste Oil's Board of Directors at the AGM held on 4 April 2013.
Shareholdings as of
4 April
Shareholdings as of
31 December
2013 2012 Change, pcs
Nina Linander 1,100 1,100
Hannu Ryöppönen 3,500 3,500
Markku Tapio
*) Nina Linander, Hannu Ryöppönen, and Markku Tapio left Neste Oil's Board of Directors at the AGM held on 4 April 2013.
Members of the Board have not received any share-related payments, but acquired the shares they own at their own expense.

Regularly updated information can be found at www.nesteoil.com/investors.