Group management has overall responsibility for operations within the Catella group in accordance with the long-term objectives set by the board of directors of Catella AB.
Compensation guidelines for senior managers
The CEO leads and regularly meets with managing directors of subsidiaries and other senior management personnel to discuss the business situation and other operational matters. The CEO has delegated decision authority to the managing directors of subsidiaries by means including the rules of procedure for each subsidiary, but this does not relieve the CEO of his responsibility. To support his work, the CEO has appointed a group management team and heads of business areas for consultation on important matters. Group management is described in greater detail in the “Group management” section.
Compensation to the CEO and other members of group management shall comprised fixed salary, variable compensation, other benefits and pension benefits. Total compensation shall be market-based, competitive and proportionate to the employee’s duties and powers. Variable compensation is based on performance in relation to individually defined qualitative and quantitative targets and shall not exceed 24 months’ fixed salary for the chief executive officer. And 12 months’ salary for other senior management. On termination of employment by the Company, the total of pay during the period of notice and severance pay shall not exceed 12 months’ salary.
Pension benefits shall be provided through defined contribution plans, unless other arrangements are justified by special circumstances. The board of directors is permitted to depart from these guidelines only if justified by special circumstances in individual cases.
Evaluation of the CEO
The board of directors continuously evaluates the CEO’s performance. This matter is addressed in particular at one board meeting per year, at which no members of group management are present.