Remuneration

Board remuneration

The Chairman of the Board and other Directors received total remuneration of SEK 815 thousand (870) for 2019, in accordance with the resolution of the AGM.

The Chairman receives SEK 215 thousand per year and the other four Directors each receive SEK 150 thousand per year.

Remuneration to the CEO and senior executives

The CEO’s base salary for 2019 amounted to SEK 2,400 thousand (2,600). The CEO is entitled to a monthly pension provision corresponding to 30 percent of base salary. Pension expenses amounted to SEK 720 thousand (732) in 2019 The terms of the CEO’s remuneration package are resolved by the Board. The company and the CEO have agreed on a mutual term of notice of 6 months in the event of termination.

Senior executives refer to seven persons, who together with the CEO formed the Group Management in 2019. During the year, the Group Management was expanded by two people. The base salaries paid to senior executives, excluding the CEO, amounted to SEK 6,984 thousand (4,993) for 2018. Odd Molly pays premiums to a defined-contribution pension plan corresponding to 16–23 percent of the total payroll expense. Pension expenses amounted to SEK 1,250 thousand (859) in 2018. Senior executives have a term of notice of 3–6 months.

Remuneration to the CEO and other senior executives has been paid exclusively by the Parent Company. Variable remuneration in the form of a bonus has not been expensed for CEO Jennie Högstedt or Deputy CEO Johanna Palm during 2019 nor for 2018.