Remuneration of the President & CEO
The current remuneration of the President & CEO consists of a fixed base salary and benefits, performance-based bonus (short-term remuneration) and share-based incentive plans (long-term remuneration).
Base salary and benefits
Base salary of the President & CEO includes taxable fringe benefits, such as company car, lunch, and telephone. Base salary is determined based on a variety of factors, such as market level and the individual’s skills and experience. Base salary is typically reviewed annually.
Complies with the Remuneration Policy, the CEO is eligible for benefits such as company car, health insurance, lunch, and telephone.
Short-term remuneration
Suominen applies an annual bonus scheme based on the principles approved by the Board of Directors in advance for one year at a time. In 2025, Charles Héaulmé’s (CEO and President as of August 11, 2025) Global STI Plan 2025 was based on Group EBIT (earnings before interest and taxes, 50% weight), Operative Cash Flow (20% weight), Raw Material Efficiency (10% weight), and personal targets (20% weight).
Long-term remuneration
Performance Share Plan
The President & CEO is eligible to participate in the company’s ongoing long-term share-based incentive plans for the periods 2023-2025, 2024-2026 and 2025-2027. The potential payment under incentive plans shall be pro-rated. His participation in these plans is presented in the table above.
The President & CEO is eligible for a signing bonus of 200,000 shares in Suominen; to be paid during Q3/2026, in case his employment agreement is still in force. Possible taxes shall be paid by the recipient.
Under the Annual Shares Contribution plan as of 2026, the President & CEO is expected to acquire up to 100,000 shares of Suominen Corporation at a price formed in public trading on Nasdaq Helsinki. Suominen will match the share investment by way of the President & CEO receiving, without consideration:
- 100,000 matching shares at minimum EUR 20 million comparable EBITDA
- 300,000 shares at target EUR 25 million comparable EBITDA
- 500,000 shares at maximum EUR 30 million comparable EBITDA.
Based on the existing share-based Long Term Incentive Plan for management and key employees, communicated as a stock exchange release on February 6, 2024, the Board of Directors of Suominen Corporation has decided on the commencement of a new plan period covering the years 2026–2028.
The potential reward will be paid partly in Suominen’s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the key employee. As a rule, no reward will be paid if the key employee’s employment or director contract terminates before the reward payment.
The President & CEO must hold 50% of the received shares until the value of the President & CEO’s total shareholding in Suominen equals to the value of the President & CEO’s annual gross salary for the calendar year preceding the payment of the reward. Such number of Suominen shares must be held as long as the membership in the Suominen Leadership Team or the position as the President & CEO continues.
Term of notice and severance pay
According to the written contract made with the President & CEO, the period of notice is six months should either the company or the President & CEO terminate the contract. Should the company terminate the President & CEO’s contract, severance pay corresponding to 12 months’ salary shall be paid. The President & CEO has no specific contract related to the termination of his contract due to a public tender offer.