FINANCIAL INFORMATION THE GROUP
Board members ' fees |
2017 |
2016 |
External members of the parent company ' s Board |
1.1 |
0.9 |
Of which to the Chairman of the Board |
0.3 |
0.3 |
A remuneration committee for the parent company’ s Board has not been elected. The fees paid to the Chairman of the Board and the Board members are in accordance with the decision of the Annual General Meeting.
CONDITIONS OF EMPLOYMENT FOR THE CEO Remuneration to the CEO comprises a fixed salary from New Wave Group AB. No Board member fees or other remuneration such as bonuses are paid to the CEO. As pension insurance for the CEO, a market-adjusted fixed payment plan is in place. A mutual notice period of six months applies for the CEO and no severance pay is awarded.
THE CONDITIONS OF EMPLOYMENT FOR OTHER SENIOR EXECUTIVES Other senior executives are the eight persons who make up the Group management together with the CEO. For the structure of the Group Management, see page 47. Remuneration to the other senior executives comprises a fixed salary. No board member fees are paid. Market-adjusted fixed payment pension agreements exist for the other senior executives. A mutual notice period of between three to six months exists for the other senior executives and no severence pay is awarded.
DECISION-MAKING PROCESS There is no specially appointed remuneration committe to deal with salaries, pension benefits, incentives and other employment-related conditions for the CEO and the Group’ s other senior executives; these matters are dealt with by the Board as a whole. The salaries of the senior executives are decided by the CEO after consultation with the Chariman of the Board. The Board members’ fees are decided by the Annual General Meeting.
Wages, salaries and other remuneration distributed by directors and other executives
SEK million |
2017 Salaries, other remuneration and fees
Of which bonus and similar
|
Pension costs
2016 Salaries, other remuneration and fees
Of which bonus and similar
|
Pension costs |
Torsten Jansson, CEO |
0.9 |
0.0 |
0.4 |
0.9 |
0.0 |
0.4 |
Olof Persson, newly elected Chairman of the Board 2016 |
0.3 |
0.0 |
0.0 |
0.3 |
0.0 |
0.0 |
Anders Dahlvig, resigning Chairman of the Board 2016 |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Christina Bellander, Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Elisabeth Dahlin, newly elected Board Member 2016 |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Helle Kruse Nielsen, resigning Board Member 2016 |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Mats Årjes, Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
M Johan Widerberg, Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Other senior executives * |
13.8 |
1.1 |
2.1 |
13.1 |
0.3 |
1.1 |
Total |
15.8 |
1.1 |
2.5 |
14.9 |
0.3 |
1.5 |
* Individuals referred to on page 47. |
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|
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Subscriptions options The Group has no outstanding share warrants.
PENSION COMMITMENTS Defined benefit pension plans exist within the Group. These are only smaller pension plans. For white-collar employees in Sweden ITP 2-plan defined benefit pensionplans for retirement- and family pensions( or family pension) are secured through insurance with Alecta. According to a statement from the Swedish Financial Reporting Board, UFR 10 Accounting for pension plan ITP 2 financed by insurance in Alecta, this is a defined benefit plan that covers several employers. For financial year 2016 the company has not had access to information in order to account for its proportionate share of the plan ' s obligations, plan assets and costs which meant that the plan has not been possible to account for as a defined benefit plan. The pension plan ITP 2 secured through insurance with Alecta is therefore recognized as a defined contribution plan. The premium for the defined benefit retirement and family pension is individually calculated and is dependent on factors including salary, previously earned pension and expected remaining period of service. Expected premiums for 2018 amount to SEK 10.0 million( SEK 7.3 million).
The collective funding level is the market value of Alecta’ s assets in percent of the commitments calculated in accordance with Alecta ´ s calculation assumptions for insurance purposes, which do not comply with IAS 19. The collective consolidation level is normally allowed to vary between 125 and 155 percent. If Alecta’ s consolidation level fall below 125 percent or exceed 155 percent, measures should be taken in order to create conditions to reestablish the consolidation level to the normal range. At low consolidation, a measure can be to raise the agreed price for new agreements. At high consolidation, a measure can be to introduce premium reductions. Alecta’ s collective funding ratio at the end of the year was 154 %( 149 %).
NWG 2017 | 73