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Renumeration

The guidelines only apply to new employment contracts entered into between Hemsö and the respective senior executives, which is why there may be employment contracts that do not fully comply with the current guidelines. The group of executives covered by the guidelines is the President and other members of Group Management.

Guidelines

The level of remuneration must be reasonable and well-balanced, it must be on market terms and competitive in the labour market in which the executive operates, without being salary leading. Furthermore, the level of remuneration shall be appropriate and contribute to good ethics and corporate culture. The total remuneration shall consist of fixed salary, other benefits and pension.

Fixed salary

The fixed salary shall be based on market conditions and shall be determined with regard to competence, area of responsibility and performance. Management’s performance is evaluated regularly and the results are used as a starting point in the annual salary review. The salary is revised as of 1 January each year.

Other benefits

The total value of other benefits shall be limited in relation to the total remuneration. Other benefits for senior executives can be, for example: company car (green car), medical insurance and wellness allowance. Furthermore, as a senior executive, you are entitled to a maximum of 35 days of vacation, the CEO is entitled to 36.

Pension and insurance

Pension benefits shall be defined contribution unless they comply with the applicable defined benefit collective pension scheme. In this case, Hemsö’s commitment is limited to paying the agreed premium to insurance companies that provide pension insurance. Contributions are only paid as long as the employee is employed by Hemsö.

Pension and insurance

Pension benefits shall be defined contribution unless they comply with the applicable defined benefit collective pension scheme. In this case, Hemsö’s commitment is limited to paying the agreed premium to insurance companies that provide pension insurance. Contributions are only paid as long as the employee is employed by Hemsö.

Termination and severance pay

For all senior executives, excluding the CEO, the collective agreement’s rules regarding termination shall apply, however, with a mutual notice period of six months’ salary. This shall be regulated in the employment contract. Terms of termination for the CEO are regulated in the employment contract and are a six-month mutual notice period. In addition, there is a twelve-month severance pay, which is deductible.

Authorization for the Board of Directors to deviate from the guidelines

In special cases, agreements may be made on compensation of a one-off nature, provided that such remuneration does not exceed an amount corresponding to the individual’s annual fixed salary, and is not paid more than once per year and individual.

The Board of Directors shall have the right to deviate from the guidelines adopted by the Annual General Meeting if there are special reasons for doing so in an individual case