Remuneration of Board of Directors

The Annual General Meeting (AGM) is responsible for remuneration matters related to the Board of Directors.

The AGM 2023 decided on the remuneration to the Board as follows:

  • Chair: EUR 95,000 per annum

  • Vice Chair: EUR 60,000 per annum

  • Chair of Audit Committee: EUR 60,000 if he or she does not simultaneously act as Chair or Vice Chair of the Board

  • Member: EUR 45,000

In addition to the fixed annual fees, the following annual fees for committee work will be paid:

  • other members of the Audit Committee than its Chair will, for such position, be paid EUR 5,000,

  • the Chair of the Personnel and Remuneration Committee will, for such position, be paid EUR 6,000, and its members will, for such position, be paid EUR 2,500, and

  • the Chair of another committee established based on Board decision will, for such position, be paid EUR 6,000, and its members will, for such position, be paid EUR 2,500.

In addition, members of the Board of Directors will receive meeting fees as follows:

  • EUR 1,000 for each meeting held in the member's home country

  • EUR 2,000 for meetings held in the same continent as the member’s home country, and

  • EUR 3,000 for meetings held outside the same continent as the member’s home country. 

The meeting fee for meetings held over the telephone or through other means of data communication is paid according to the fee payable for meetings held in each member's home country. In addition, compensation for expenses is paid in accordance with the Company's travel guidelines.

A portion of 40% of the fixed annual fee will be paid in the form of shares and the remainder in cash. Committee and meeting fees will be paid in cash. The shares will be purchased directly on behalf of the Board members within two weeks after the publication of the interim report for the period 1 January to 31 March 2023. If the shares are not purchased and/or delivered based on a reason pertaining to the Company or the Board member, the fee will be in cash in its entirety. The Company is responsible for any transfer tax potentially levied on the purchase.

Board members are not covered by the Company’s remuneration system.

Read more about the remuneration of the Board Members in the Annual Report. The shareholdings of the Members of the Board including organizations under their control are presented in the Company's web page "shareholdings".


Neste Remuneration Policy
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