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Investor Presentaiton

CORPORATE GOVERNANCE STATEMENT Number of Board and Committee meetings in 2022 and participant attendance: Antti Herlin Jussi Herlin Matti Alahuhta Susan Duinhoven liris Herlin Ravi Kant Krishna Mikkilineni* Jennifer Xin-Zhe Li Andreas Opfermann* Juhani Kaskeala* Nomination and Compensation Committee 7/7 3/3 7/7 3/3 7/7 1/2 Board 7/7 Audit Committee 7/7 7/7 6/7 7/7 7/7 3/3 6/6 5/7 0/1 1/1 4/4 3/3 *Juhani Kaskeala served as Board member until March 1, 2022. Krishna Mikkilineni and Andreas Opfermann were elected to the Board on March 1, 2022. On March 24, 2022, KONE announced Andreas Opfermann's decision to resign from his position as a member of the Board of Directors of KONE, effective March 31, 2022. Jennifer Xin-Zhe Li. Of the Board members, five are male and three are female. Of the Board members, Matti Alahuhta, Susan Duinhoven, liris Herlin, Ravi Kant, Krishna Mikkilineni and Jennifer Xin- Zhe Li are independent of the Corporation. With the exception of Antti Herlin, liris Herlin and Jussi Herlin, the other Board members are independent of the Corporation's significant shareholders. The Board of Directors convened seven times in 2022, with an average attendance rate of 93%. Johannes Frände, Executive Vice President, General Counsel, serves as Secretary to the Board and to its Committees. Audit committee The Board of Directors' Audit Committee comprises Ravi Kant (Chairman, independent member), Matti Alahuhta (independent member), Susan Duinhoven (independent member) and Jussi Herlin. The Audit Committee held three meetings in 2022, with an average attendance rate of 91%. Kristian Snäll serves as the Head of Assurance. Nomination and compensation committee The Nomination and Compensation Committee comprises Antti Herlin (Chairman), Matti Alahuhta (independent member), Jussi Herlin and Jennifer Xin-Zhe Li (independent member). The Nomination and Compensation Committee held seven meetings in 2022, with an average attendance rate of 100%. Compensation and other benefits of the Board of Directors The Annual General Meeting of KONE Corporation in March 2022 confirmed the fees of the members of the Board as follows (annual fees): Chairman of the Board: EUR 220,000 Vice Chair: EUR 125,000 Member: EUR 110,000 Of the remuneration, 40 percent was paid in class B shares of KONE Corporation and the rest in cash. In addition, the Annual General Meeting in March 2022 confirmed a separate annual compensation to the members of the board committees: " Chairman of the Audit Committee: EUR 20,000 Members of the Audit Committee: EUR 10,000 Chairman of the Nomination and Compensation Committee: EUR 20,000 " Members of the Nomination and Compensation Committee: EUR 10,000 The annual compensation of the members of the board committees is paid in cash. Annual board fees and annual compensation to the members of the board committees are not paid to a board member who is employed by the company with a separate employment contract. Board members' travel expenses and daily allowances are compensated in accordance with the company's travel expense policy. Compensation and other benefits of the Vice Chair The Vice Chair of the Board, Jussi Herlin has a separate employment contract for his role as Executive Vice Chair of the Board at KONE. The employment-based compensation for Jussi Herlin consists of a base salary and an annual bonus decided by the Board on the basis of the Group's financial result. The annual bonus may not exceed 100 percent of the recipient's annual base salary. In 2022, Jussi Herlin's base salary was EUR 125,600. In addition, he received a bonus of EUR 26, 166, which was earned in 2021. There will be no bonus payout in 2023 as the performance criteria for 2022, tied to the Group's financial performance, were not met. Jussi Herlin's holdings of shares are presented in the table on page 121. The Executive Vice Chair's retirement age and pension are determined in accordance with Finland's Pensions Act. No separate agreement regarding early retirement has been made. President and CEO Henrik Ehrnrooth serves as KONE Corporation's President and CEO. Compensation and other benefits of the President and CEO The President and CEO's compensation consists of a base salary and an annual bonus determined by the Board on the basis of the Corporation's key targets. The annual bonus may not exceed 150 percent of the recipient's annual salary. Henrik Ehrnrooth's annual base salary is EUR 750,000. In addition, he received a bonus of EUR 835,350, which was 120 KONE ANNUAL REVIEW 2022
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