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.