Remuneration to senior executives

Base salary and Short-term Variable Remuneration
Remuneration is to be based on factors such as work duties, qualifications, experience, position and performance. In addition, the break-down between base salary and short-term variable remuneration shall be proportionate to the employee’s position and work description. Sweco’s short-term incentive remuneration shall be linked to predetermined, measurable criteria that are devised to comply with the company’s long-term value creation. Short-term variable remuneration for the President & CEO and the CFO may not exceed 75 per cent of base salary. For other senior executives, the short-term variable remuneration may not exceed 50 per cent of base salary. Due to acquisitions, exceptions to maximum percent may apply for a limited period, until integration with Sweco’s short-term incentive programme is aligned. Short-term variable remuneration shall be determined based on results in relation to predetermined profitability targets. Targets for the President & CEO and other senior executives shall be determined by the Board of Directors.

Long-term Variable Remuneration – Share-based incentive schemes
Sweco senior executives may be offered various forms of long-term incentive schemes, based on market terms. The rationale for share-based incentive schemes is to increase and or diversify senior executives’ share ownership and/or exposure and to more closely align the interests of the company’s decision makers and shareholders. A long-term, personal shareholder commitment among key personnel is expected to stimulate greater interest in the company’s operations and earnings trend and to increase motivation and solidarity with the company.
Resolutions on share-based incentive schemes shall always be made by the Annual General Meeting or at an Extraordinary General Meeting.

Further information, including intern alia the conditions and the costs, regarding the ongoing share saving schemes can be found here

Pensions
The terms and conditions for pensions for Sweco’s President & CEO and senior executives shall be market-based relative to what generally applies to comparable senior executives in the market, and shall normally be based on defined contribution pension schemes.

Other benefits
Other benefits may be awarded, primarily in the form of company vehicles and mobile phone benefits.

Remuneration and other benefits expensed in 2018 (SEK 000s)

 

BASE SALARY

vARIABLE SALARY

Share savings

scheme4

OTHER BENEFITS

PENSION COST

TOTAL

President & CEO1  

4,591

3,135

253

52

1,429

9,460

Former President & CEO2 

2,633

-64

-

31

829

3,429

Other senior executives 3 

 

28,260

5,905

709

1,058

6,455

42,387

TOTAL

35,484

8,976

962

1,141

8,713

55,276

 

  1. From 20 April 2018
  2. Until 19 April 2018
  3. 11 individuals
  4. The cost of share savings scheme corresponds to the cost reported in the Group pursuant to IFRS