President and CEO

Salary and benefits

EUR 831 519/year and car benefit of maximum EUR 26 400/year.

In 2021, salary amounted to EUR 807 300 and benefits to EUR 34 670.

Short-term incentives 

The President and CEO is entitled to an annual bonus corresponding to 75% of the CEO's annual base salary when performance targets met, with a maximum potential reward of 150% of the annual base salary.

Performance criteria in 2021 (paid in 2022)

• Group revenue (30%)
• Group adjusted operating profit (30%)
• Adjusted free cash flow (10%)
• Strategic and operational goals (30%)

The amount of the bonus paid based on the financial performance in 2021 was EUR 484 380 (paid in 2022).

Long-term incentives 

Participant in share-based incentive plans for 2020-2022, 2021-2023 and 2022-2024 .

Share rewards are based on the relative Total Shareholder Return (TSR), strategic target related to Tietoevry growth and Earnings per Share (EPS). Further details on share reward criteria available on this page.

In March 2022, a total of 15 472 shares (net amount) were delivered to the CEO related to the share-based incentive plan 2019–2021. Share delivery was based on an overall achievement of 98% with performance criteria consisting of Earnings per Share, relative TSR and revenue growth.

Share ownership guideline

The recommended minimum investment in company shares corresponds to the executive's one time gross annual base salary.

Retirement age

 63

Expenditure for voluntary pension

Expenditure for voluntary pension amounted EUR 205 054 in 2021.

Payments to defined contribution plans are recognized as expenses for the period to which they relate. After payment of the contribution the Group has no further obligations in respect of such plans.

Period of notice

12 months (six months if terminated by the President and CEO)

If the agreement is terminated by Tietoevry, the company will pay severance equivalent to the base salary plus the short-term target incentive for six months on top of the salary for the notice period.

Severance payment

If someone acquires over 50% of the company's shares or the company is merged with another company as a merging company and if the agreement is terminated by either party within nine months of such acquisition or merger, the company shall pay a severance payment equivalent to the base salary plus the short-term target incentive for six months and the monetary value of the maximum amount of shares granted to him in the most recent long-term incentive plan in addition to the salary for the notice period.

Should the CEO stay in the company after an acquisition or a merger, he is entitled to the above mentioned outcome of the most recent long-term incentive plan after twelve months after such an acquisition or a merge.

If the agreement is terminated by the President and CEO, except in the event of the above mentioned over 50% take over or the merge, the severance payment shall not be paid.