FI Investors Corporate Governance Remuneration Remuneration Remuneration The aim of YIT’s remuneration systems is to reward good performance, increase the personnel’s motivation and commit the company’s management and its employees. The aim of YIT’s remuneration systems is to reward good performance, increase the personnel’s motivation and commit the company’s management and its employees to the company’s objectives in the long term. Remuneration principles Strengthens our culture and supports shareholder value creation Motivates our people and supports to retain and recruit the talents needed Promotes strategy execution and management by key results Is responsibly managed, flexible and in line with our long-term financial goals Decision-making regarding remuneration YIT Corporation’s Annual General Meeting decides on the fees for the Board of Directors. The Board of Directors decides on the salary and fees and other terms of employment of the CEO and other key Group employees, such as the members of the Group’s Management Team. In addition, the Board of Directors decides annually both short and long-term indicators for management remuneration and the target values for the indicators which are designed to support the achievement of the strategic goals. On the basis of the President and CEO’s proposal, the Board of Directors also decides on the amount of fees and whether the indicator-based goals have been reached. The task of the Personnel Committee is to assist the Board in matters related to appointing and rewarding key personnel. Among other things, the Personnel Committee prepares proposals for the development of the Group's corporate culture and HR policy, remuneration and incentive schemes, the rules for performance-based bonuses and the proposals for performance-based bonuses paid to the management. In addition, identifying talents, the development of key personnel and planning for management successors fall under the preparation responsibility of the Committee. The Shareholders’ Nomination Board of YIT Corporation is a body comprised of the company’s shareholders or their representatives, the duty of which is to prepare proposals on the election and remuneration of the members of the Board of Directors for the Annual General Meeting. The primary purpose of the Nomination Board is to ensure that the Board of Directors and its members have sufficient expertise, competence and experience in view of the Company’s needs, and to prepare proposals, with justifications, on the election and remuneration of members of the Board of Directors to the General Meeting for this purpose. Remuneration Policy for Governing Bodies 2020-2023 Starting from the 2020, the remuneration principles for YIT’s governing bodies, i.e. the Board of Directors and the President and CEO, are described in the Remuneration Policy, which will be addressed for the first time in the Annual General Meeting 2020. The Remuneration Policy complies with the recommendations of the Finnish Corporate Governance Code (2020) and the Shareholders’ Rights Directive legislation. Remuneration policy Remuneration reports Remuneration Report is based on Finnish Corporate Governance Code 2020 of the Securities Market Association and it provides the details of the remuneration paid to members of the Board of Directors, President and CEO and his Deputy. Remuneration report 2020 Information on the management remuneration prior to 2020 is available in the Remuneration Statements published by the company. Previous remuneration statements Remuneration of the Board and Committees Remuneration of the President and CEO Remuneration of Group Management Team Share-based long-term incentive schemes Read more Corporate Governance Board of Directors Management Team Reports and materials Updated 23.03.2021 Follow us Facebook YIT Suomi Twitter @YITInvestors LinkedIn YIT Corporation YouTube YIT Corporation Instagram @raksaduuni YIT creates better living environments by developing and constructing housing, business premises, infrastructure and entire areas. SITE SEARCH Find content from our website YIT Group About YIT Investors Careers Corporate Governance Group structure Sustainability Media For Suppliers Short links Apartments Business premises Infrastructure Renovation services Property investments Projects and references YIT Head Office Panuntie 11, PL 36, 00620 Helsinki +358 20 433 111 Call charge 8,35 cents/call + 16,69 cents/min (incl. VAT). International rate as applicable. Personal email addresses follow the form firstname.lastname@yit.fi. The country code depends on the operating country. Contact information Privacy Policy & Terms of Use Send us feedback Cookie settings © 2021 YIT Corporation