Fortum Nomination Board Proposes Board Changes and Remuneration Adjustments
Fortum's Shareholders' Nomination Board has submitted its proposals for the 2026 Annual General Meeting, including changes to the board's composition and a proposed increase in remuneration.
Helsinki – Fortum Oyj's Shareholders' Nomination Board has presented its proposals to the company's Board of Directors for the upcoming 2026 Annual General Meeting, scheduled for March 31, 2026. The proposals cover the composition of the company's board and the remuneration of its members.
The Nomination Board proposes expanding the board from nine to ten members. Eight current members are proposed for re-election, with Mika Anttonen and Emmanuelle Verger-Chabot proposed as new additions. Mikael Silvennoinen is nominated as the proposed Chair of the Board, and Jonas Gustavsson as the proposed Deputy Chair. Teppo Paavola, a board member since 2020, will not be available for re-election.
Furthermore, the Nomination Board proposes adjustments to the annual fees for board members. Under the proposals, the Chair's remuneration would increase from EUR 155,000 to EUR 175,000. The Deputy Chair and Committee Chair fees would rise from EUR 85,000 to EUR 95,000, and fees for other members would increase from EUR 68,000 to EUR 75,000. Meeting fees are proposed to remain at EUR 1,000 per meeting.
Approximately 40% of the annual remuneration will be paid in company shares, with the remainder in cash. This practice aims to enhance board members' commitment to the company's development. The Nomination Board states that the proposed remuneration levels align with market benchmarks and the goals of a program to bring board compensation to market level by 2026.
The Annual General Meeting will vote on the Nomination Board's proposals regarding the board's composition and remuneration. The Nomination Board's mandate is to ensure the proposed board possesses the necessary competencies and experience relevant to the company's needs.