Our remuneration principles aim to attract and retain the best talent, motivate key people and align the goals of the company's shareholders and executives to enhance the value of the company
Short-term incentives reward the Group Leadership for company performance and individual performance, forming the overall performance evaluation. Former EVRY’s bonus schemes for the executive management are linked to the Company's financial, operational and organizational targets and were partly determined by the discretion of EVRY’s Board of Directors. Our bonus system is based on clear measurable targets for the company’s financial performance and strategy implementation. Weighting of the reward factors for the President and CEO is described in a separate table.
The Board of Directors set the reward targets annually and decide the value of bonuses after the financial statements have been prepared. Bonuses are paid by the end of March.
The Board of Directors approve the terms and conditions of share-based long-term incentive plans. Tieto's long-term incentive plans for 2017–2019 cover around 150 key employees, including our Group Leadership. The long-term incentive plans 2018–2020 and 2019–2021 cover around 250 key employees, including the Group Leadership.
In 2019, EVRY operated a share option programme for members of their executive management and key employees in leading positions. At the time of merger closing approximately 70 employees were included in the programme at. Participation in the for EVRY Long-term incentive plan each year was be decided by the company's Board of Directors, based on recommendations from the Remuneration Committee in connection with annual allocations.
We operate a number of different pension plans in accordance with national requirements and practices. In addition to statutory pension plans, most Group Leadership members receive additional pension schemes. Tieto’s pension plans are described in more detail on a separate page.