Executive Committee

The Board of Directors has appointed the Sampo Group Executive Committee and a Group MD Committee to the Group Executive Committee, which supports the Group CEO in preparing matters to be handled by the Executive Committee.

The Sampo Group Executive Committee supports the Group CEO in the preparation of strategic issues relating to Sampo Group, in the handling of operating matters that are significant or involve questions of principle, and in ensuring a good internal flow of information.

The Executive Committee addresses especially the following: Sampo Group's strategy, budget, large purchases and projects, the Group's structure and organisation, as well as key strategic issues pertaining to administration and personnel.

The Board of Directors decides on the terms of employment and compensation of the executives on Sampo Group Executive Committee, based on a proposal by the Nomination and Compensation Committee.

The members of the Group Executive Committee (GEC) are each covered by the employment pension system of their country of residence. The terms of their employment contracts entitle most of the GEC members to supplementary pension covers, the structure of which varies significantly between countries. The cost of these schemes is annually presented in the Salary and remuneration report available on this website.

Salary and remuneration report

For the Finnish GEC members the pension age is 60 years and the level of total pension 60%. Members nominated after 27 August 2009 are not party to any supplementary pension schemes. The Norwegian GEC members are not covered by supplementary pension schemes and are entitled to the benefits guaranteed by the Norwegian pension system, i.e. at the age of 65 years the level of pension is 70%. In the case of the Swedish GEC members the supplementary pension scheme is a defined contribution scheme and it is therefore not possible to determine beforehand the level of the final pensions.

The composition of the Executive Committee

In 2009, the Executive Committee convened four times at the request of Group CEO and President.

Group MD Committee

The Group MD Committee comprises Kari Stadigh (chairman), Ilona Ervasti-Vaintola, Peter Johansson, Patrick Lapveteläinen, Torbjörn Magnusson, Petri Niemisvirta and Ricard Wennerklint.

In 2009, the Group MD Committee, which assists the Executive Committee, met 15 times.