Remuneration of the Board of Directors

The Annual General Meeting decides annually on the fees to be paid to the members of the Board of Directors for one term of office at a time.

The Annual General Meeting approved the following fees to the members of the Board of Directors for 2020:

  • to the chairman EUR 140,000/year
  • to the deputy chairman EUR 105,000/year
  • to the ordinary members EUR 70,000/year

Approximately 40% of the annual Board remuneration will be paid in Wärtsilä Corporation shares, and the rest in cash. The Company will compensate the transaction costs and costs in relation to the applicable asset transfer tax arising from the share purchases.

In addition, each member will be paid EUR 750 per meeting of the Board attended, the Chairman’s meeting fee being double this amount. Further, the Chairman of the Audit Committee will receive a fixed fee of EUR 20,000 and each member of the Committee a fixed fee of EUR 10,000 for the term, while the Chairman of the Remuneration Committee will receive a fixed fee of EUR 10,000 and each member of the Committee a fixed fee of EUR 5,000 for the term.

Information on fees paid to the Board of Directors can be found in the remuneration report.

© 2020 Wärtsilä