Remuneration and other financial benefits of the members of the Board

The Annual General Meeting decides on the remuneration and other financial benefits of the members of Kesko’s Board of Directors and its Committees annually. The Annual General Meeting held on 8 April 2019 resolved that the remuneration of Kesko Corporation’s Board members and the reimbursement of their expenses are as follows:

  • Board Chairman, an annual fee of €97,000, 
  • Board Deputy Chairman, an annual fee of €60,000, 
  • Board member, an annual fee of €45,000, 
  • Board member who is the Chairman of the Audit Committee, an annual fee of €60,000, 
  • A meeting fee of €500/meeting for a Board meeting and its Committee's meeting. The meeting fee for the Board Chairman is €1,000/Board meeting. However, a meeting fee of €1,000/Committee meeting is paid to a Committee Chairman who is not the Chairman or Deputy Chairman of the Board. The meeting fees are paid in cash.  
  • Daily allowances and the reimbursements of travel expenses are paid to the Board members in accordance with the general travel rules of Kesko. 

The aforementioned annual fees will be paid in Kesko Corporation’s B shares and in cash, with approximately 30% of the remuneration paid in shares. After the transfer of shares, the remaining fee amount is paid in cash. The Company will acquire the shares or transfer shares held by the Company as treasury shares in the name and on behalf of the Board members. The Company is responsible for the costs arising from the acquisition of the shares. The shares will be acquired or transferred to the Board members on the first working day to follow the publication of the interim report for the first quarter of 2019. A Board member cannot transfer shares obtained in this manner until either three years have passed from the day the member has received the shares or their membership on the Board has ended, whichever comes first.

Board members do not have share compensation or share-based compensation schemes, nor do they participate in the other remuneration schemes or pension plans of the Company.

 

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