Systemair Corporate
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Remuneration

Remuneration to the Board of Directors

The Chairman and members of the Board receive remuneration according to resolution by the Annual General Meeting. Fees totalling SEK 28 thousand (28) are paid to employee representatives each year.

Remuneration to Management

Remuneration to the President is determined by the Board based on a proposal from the compensation committee, consisting of Carina Andersson, Gerald Engström and Patrik Nolåker. Remuneration to other senior executives is determined by the CEO after consultation with the compensation committee. Apart from President and CEO Roland Kasper, Other senior executives consist of Vice President Marketing – Eastern Europe Fredrik Andersson, Vice President Sales and Marketing Olle Glassel, Vice President Business Development Taina Horgan, Vice President Marketing – Middle East and Asia Håkan Lenjesson, Vice President Marketing – Products Kurt Maurer, Vice President Manufacturing Ulrika Molander and Chief Financial Officer Anders Ulff. Remuneration to the CEO and other senior executives consists of the basic salary, variable pay, car benefit and pension. For other senior executives, variable pay may amount to between one and two extra monthly salary payments. Variable pay normally is based on any improvement in an individual’s area of responsibility compared to the preceding year, the consolidated profit after net financial items and the outcome of individual development plans.

Severance pay

For other senior executives, including the Parent Company’s CEO, the period of notice is as stated in the applicable collective bargaining agreement or is no more than 12 months from the Company or six months from the employee. No severance payments have been agreed for senior executives. Agreements are in place with Presidents of subsidiaries such that benefits will be paid for 6–12 months on termination of employment by the Company.

Pension

The pensionable age for the CEO and other senior executives is 65 years. Pension benefits for other senior executives are paid within the scope of the contractual ITP plan and alternative ITP schemes.

 

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