CEO's terms of employment

Managing Director Jussi Laitinen's financial benefits and terms of employment are established by the Board of Directors. The Managing Director receives a basic monthly salary of EUR 23,500 and benefits in kind.

In addition to the basic salary, the Managing Director is enrolled in the Executive Committee's result- and performance-based bonus system and share-based incentive scheme as well as in the Group's personnel fund. More information about these is given in the Section on Remuneration for the Executive Committee.

Pension scheme and retirement terms

In addition to the statutory pension, the Managing Director is included in the supplementary pension insurance for members of the Executive Committee. The Managing Directors retirement age is 63 years. On reaching retirement age, the Managing Director receives a pension of 60% of the pensionable salary.  The cost for the Managing Director's supplementary pension amounted to EUR 100,560 in 2011.

The period of notice specified in the Managing Director's employment contract is 18 months on the part of Aktia plc and 6 months on the part of the Managing Director. An exception to this is a situation where Aktia undergoes a restructuring process, resulting in a change of the character of the Managing Director's post, due to which the Managing Director has the right to 18 months' period of notice. In addition to basic salary and benefits in kind, no severance pay is granted if the employment is ended by Aktia plc.

Remuneration paid to the Managing Director: