NWG Annual Report 2019 - EN NWG Annual Report 2019 - EN | Page 110

NWG // FINANCIAL INFORMATION // THE PARENT COMPANY Note 5 - Salaries, other remuneration and social security contributions SEK million 2019 Social Salaries and other security remuneration contributions 23.9 12.1 Of which pension costs 2018 Social Salaries and other security remuneration contributions 3.9 Of which pension costs 22.0 11.8 3.9 Of the Parent company's pension costs SEK 0.3 (0.4) million concerns the Board and the CEO. Salaries and other remuneration divided between Board members, CEO and other employees SEK million 2019 Board and CEO Of which bonus Other employees 2018 Board and CEO Of which bonus Other employees 2.1 0.0 21.8 1.9 0.0 20.1 2019 2018 Board members' fees External members of the Parent company's Board Of which to the Chairman of the Board 1.2 1.0 0.4 0.3 Remuneration committee for the Parent company has not been elected. The fees paid to the Chairman of the Board and the Board of Directors 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's fees or other remuneration such as bonuses are paid to the CEO. As pension insurance for the CEO, a market- adjusted defined contribution plan is in place. A mutual notice period of six months applies for the CEO and no severence pay is awarded. Conditions of employment for other senior executives Other senior executives refers to the three persons employed by the Parent company whom together with the CEO is a part of the Group management. For the structure of the Group management, see pages 54-55 of this report. Renumeration to the other senior execu- tives comprises a fixed salary and in one case bonus based on development in terms of inventory turnover, operating margin and turnover for applicable segment. 110 // ANNUAL REPORT No board member fees are paid when senior executives take part of Group companies' boards. Market-adjusted defined contribution pension plan 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 renumeration committee to deal with wages, 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 Chairman of the Board. The board members' fees are decided by the Annual General Meeting.