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Home BUSINESSNeste Oil plans to hike board fees
Mon, 26 Jan, 2015 12:06:48 AM
FTimes – STT Report, Jan 26

The Shareholders’ Nomination Board at Neste Oil will propose increases in the remuneration paid to the chair, vice chair and board members.

The proposals will be forwarded during the company’s annual general meeting scheduled for April 1.

The proposed increases, however, are less compared to what had been proposed for the board of Finnish energy company Fortum.

Neste Oil nomination board has proposed the annual fee for the chair of the board to be increased from the current 66,000 euros to 84,000 euros.

The increase for the deputy chair has been proposed from 49,200 euros to 55,000 euros, the proposed hike for board members will see their annual fee rise from the current 35,400 euros to 42,000 euros.

The state owns 50.01 per cent of Neste Oil. Sirpa Paatero, minister responsible for state ownership steering, said on Saturday that state ownership steering will go through all the proposed remunerations before the annual general meeting.

Neste Oil’s planned increased was first reported by the Helsingin Sanomat.


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