Jukka Harju,
Chief Executive Officer (CEO)
Jukka Harju, Chief Executive Officer (CEO) View CV |
The CEO is in charge of the operative management of the company in accordance with the Finnish Companies Act, the Articles of Association as well as the instructions and orders given by the Board of Directors. The CEO is responsible for the preparation of the Board meetings and implementation of any decisions made therein. Further, the CEO is responsible for ensuring that the company's accounting methods comply with the applicable law and that the financial matters are being handled in a reliable manner. The CEO prepares strategy, long-term planning, investments, mergers and acquisitions, financing and makes decisions thereof to the extent that such decisions are not tasks of the Board of the Directors. The CEO is responsible for financial planning, the company's communications and investor relations. |
CEO's Service Contract
The CEO's service contract is effective until further notice and can be terminated by both by the company and the CEO with six (6) months' notice.
The CEO is entitled to a pension under the Contracts of Employment Act and other legislation pertaining to pensions. The Finnish employee pension system (TyEL) allows for an old-age pension based on years of service and the income accumulated during those years, including the base salary, bonuses (excluding any option rights and shares subscribed on their basis) and taxable fringe benefits. The old age pension can be taken out at one's own discretion between the ages of 63-68 (flexible retirement age).
The Remuneration of CEO
The Board of Directors defines and approves the essential terms of the service of the CEO, including the CEO's remuneration, in a form of a written agreement.
In 2006 the EB's CEO Pertti Korhonen was awarded with company stock options aimed at encouraging long-term equity commitment . He was awarded with 1,000,000 stock options, all marked with the symbol 2006A. According to the option terms, the 2006A stock options were granted on the condition that recipients of the options shall purchase the amount, determined at the Annual General Meeting held on March 15, 2006, of the company's shares either directly or through companies under their control (CEO at least 100,000 shares).
EB's current CEO Jukka Harju has not been awarded with any stock options.
| CEO's Remuneration, EUR | |
| 2006 | 269,505* |
| 2007 | 437,786 |
| 2008 | 423,165 |
* Includes remuneration for Juha Hulkko between January 1–May 31, 2006 and remuneration for Pertti Korhonen between June 1, 2006-December 31, 2008. | |