Fees & Remuneration

The fees and other compensation for the board members, including the chairman of the board, are decided by the general meeting. The annual general meeting held on March 14, 2021 decided that the total remuneration for the board members, for the period until the next annual general meeting, shall amount to SEK 1,300,000. SEK 500,000 shall be paid to the chairman of the board and SEK 200,000 each to Charlotte Gogstad, Johan Kleberg, Gert Wilhelm Munthe and Therese Reuterswärd (whereby the amount shall be reduced so that it proportionally corresponds to the part of a year that has elapsed before the annual general meeting in 2022. Furthermore, three of the Board members independent of major shareholders are covered by warrant programs, see Incentive programs

The company’s directors are not entitled to any benefits when they resign as directors.

The company strives to offer total compensation that is market-based and thereby able to attract and retain qualified employees. The compensation must be based on the employee’s position, responsibilities and performance. The total remuneration of senior executives shall consist of fixed salary, variable cash remuneration and pension.
The fixed salary forms the basis of the total remuneration. The fixed salary must be based on the competence, responsibility and performance of the group management member and must be competitive in relation to the current market standard. The CEO receives a fixed monthly salary of SEK 205 000.

The group applies a notice period of a maximum of twelve months. In the event of voluntary termination, a notice period of six months generally applies. In the event of termination by Cheffelo, severance pay may be paid with up to nine months’ salary. In addition to the mentioned variable remuneration, from time to time there may be decided share-based incentive programs, which must be decided by the annual general meeting, see Incentive programs.