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Remuneration is only one part of total reward, which encompasses also other aspects of value that the employment relationship brings to the employee, for example competence development.
When it comes to remuneration, we aim at creating a sense of fairness, simplicity and transparency, while keeping a tight cost focus. Remuneration principles and policies, as well as guidelines for rewards and short-term incentive programs in force, are communicated to all employees.
The main forms of remuneration are fixed and variable compensation, which are both related to performance. Fixed compensation shall be competitive, but not leading in the market. Variable compensation is an important element of total remuneration as it is strongly linked to performance, thereby also providing the company with a cost hedge. Remuneration also includes pension and other benefits.
Sampo Group Remuneration
Sampo plc's Board of Directors approved the updated Remuneration Principles of Sampo Group on 17 September 2014. These updated Principles apply to all companies within Sampo Group.
Sampo Group Remuneration Principles 17 September 2014 (PDF)
Sampo plc publishes a Remuneration Report in accordance with the Finnish Corporate Governance Code.
The Board of Directors decides, on the basis of the proposal by the Nomination and Compensation Committee, the terms of employment and remuneration of the Group CEO, as well as the variable compensation of the other members of the Sampo Group Executive Committee. The Board of Directors has authorized the Nomination and Compensation Committee to decide the fixed remuneration of the members of the Group Executive Committee except for the Group CEO.