The remunerations paid to the members of the Board of Management, and the principles underlying it, are determined by the Board of Directors.
The members of the Extended Board of Management are included in a bonus scheme which is decided by the Board of Directors on a yearly basis. The Board of Directors also decides on any separate performance-based compensation schemes for the management.
The bonuses are paid in cash. There are no other bonus schemes.
Remuneration in 2016
The annual remuneration for the Board of Directors in 2016 was EUR 50,000 for the Executive Chairman, EUR 40,000 for the Vice Chairman and EUR 30,000 for the other Board members. The remuneration of the Board of Directors has remained the same as from 2008.
A detailed specification of the management contracts, salaries, remuneration and benefits paid in 2016 is given in the Financial Statements of 2016, Transactions with Related Parties, and in Finnlines’ Remuneration Statement 2016.