Management compensation

The total remuneration paid to GMT consists of fixed salary, variable components in the form of annual short term variable remuneration and long-term variable remuneration, pension, other benefits and terms related to termination of employment.

The Boards proposal to the Annual General Meeting for principles of remuneration to management, as well as the Boards evaluation of certain remuneration related issues pursuant to section 10.3 of the Swedish Corporate Governance Code, are available on the page Remuneration principles.

Remuneration and other benefits to Group Management Team

(TSEK)Fixed
salary
Variable
salary
Other
benefits
Pension
costs
TotalDefined benefit obligationsSeverance costs
President 20166.6387.7031462.46216.950
President 20156.4396.7631342.37015.707
Other members of Group Management Team 201617.66719.8091.4255.89544.79623.407
Other members of Group Management Team 201515.69216.5031.2375.26438.69620.098
Total 201624.30527.5131.5718.35861.74623.407
Total 201522.13123.2661.3717.63454.40320.098

 
Comments to the table:

  • At the end of 2016, the Group Management Team consisted of eight persons including the President. The President and six other members of the Group Management Team were employed by the Parent Company and one member was employed by a subsidiary.
  • At the end of 2015, the Group Management Team consisted of seven persons including the President. The President and five other members of the Group Management Team were employed by the Parent Company and one member was employed by a subsidiary.
  • Variable salary pertains to accruals charged to the consolidated income statement during the year for short term and long term incentive programs.
  • Other benefits pertain to company cars, medical insurance, dental plan, life insurance, club membership and other benefits.
  • Reported pension costs correspond to service costs for defined benefit pension plans and fees relating to defined contribution pension plans (excluding payroll taxes).