Top Navigation SKF Group English Main navigation THIS IS SKF FINANCIAL INFORMATION THE SHARE GOVERNANCE CONTACTS Remuneration for Group Management The objective of SKF's principles of remuneration for Group Management is to ensure that the SKF Group can attract and retain the best people in order to support the SKF Group's mission and business strategy. Remuneration for Group Management shall be based on market competitive conditions and at the same time support the shareholders' best interests. The total remuneration package for a Group Management member consists primarily of the following components: fixed salary, variable salary, pension benefits, conditions for notice of termination and severance pay, and other benefits such as a company car. The components shall create a well-balanced remuneration reflecting individual performance and responsibility as well as the SKF Group's overall performance. At the Annual General Meeting 2020 it was resolved to adopt the following principles of remuneration for Group Management in accordance with the Board's proposal. Renumeration principles for Group Management At the Annual General Meeting 2021 it was resolved to approve the Board of Directors’ remuneration report. The Board of Director's remuneration report 2020 SKF's Performance Share Programmes At the Annual General Meeting in 2008 the SKF Group introduced a long-term performance share programme for senior managers and key employees (SKF’s Performance Share Programme 2008). Since 2008 the Annual General Meeting has resolved each year upon a performance share programme. The Performance Share Programmes 2008-2018 are completed. The outstanding programmes are listed below. For further details click on the links at the bottom of this page. SKF's Performance Share Programme 2019: Allotment of shares may be made following the expiry of the three year calculation period, i.e. during 2022, if all the conditions of the programme are met. SKF's Performance Share Programme 2020: Allotment of shares may be made following the expiry of the three year calculation period, i.e. during 2023, if all the conditions of the programme are met. SKF's Performance Share Programme 2021: Allotment of shares may be made following the expiry of the three year calculation period, i.e. during 2024, if all the conditions of the programme are met. Fees to the Board of Directors The Chairman of the Board and the Board members are remunerated in accordance with the decision taken at the Annual General Meeting. At the Annual General Meeting held in 2021 it was decided that the Board be entitled to a fixed allotment and an allotment for committee work in accordance with the Board of Directors' proposal. The Board's proposal for SKF's Performance Share Programme 2021 The Board's proposal for SKF's Performance Share Programme 2020 The Board's proposal for SKF's Performance Share Programme 2019 For details on costs for SKF's Performance Share programmes, page 93, Annual report 2020 For details on costs for SKF's Performance Share programmes, page 99, Annual report 2019 For details on costs for SKF's Performance Share programmes, page 103, Annual report 2018 For details on costs for SKF's Performance Share programmes, page 102, Annual report 2017 For details on costs for SKF's Performance Share programmes, page 100, Annual report 2016 For details on costs for SKF's Performance Share programmes, page 129, Annual report 2015 For details on costs for SKF's Performance Share programmes, page 157, Annual report 2014 For details on costs for SKF's Performance Share programmes, page 155, Annual report 2013 ORGANISATION About SKF Sustainability Brand protection Supplier portal CAREER Find a job Graduates Students Professions Why work at SKF? NEWS AND MEDIA News and events Press contacts Magazines INVESTORS SKF as an investment Reports and presentations Press releases Calendar Subscribe FAQ IR contacts IR policy SOCIAL Facebook YouTube LinkedIn Twitter Instagram Footer menu Copyright Terms and conditions Privacy policy Site ownership Cookies General conditions