Chief Executive Officer

Mr Jyri Luomakoski, MBA, born 1967, acts as President and CEO of the Company.

Assisted by the Executive Committee, the CEO is in charge of the Group's day-to-day management in accordance with the orders and instructions issued by the Board. It is the CEO's duty to ensure that the Group's accounting procedures comply with the applicable legislation and that the financial management is conducted in a reliable manner. The CEO is also the Chair of the Executive Committee.

In 2017, the base salary paid to the CEO, Mr Jyri Luomakoski, totalled €422,340 in cash and €29,481 as fringe benefits, in total €451,821. The Company paid the CEO a total of €259,470 based on the short-term incentive plan for the year 2016. Based on the decision of the Board of Directors on 15 February 2018, the CEO was awarded a reward of €149,580 based on the short-term incentive plan 2017. In addition, based on the long-term incentive plan 2015-2017, he was awarded 3,138 shares to be transferred to his book-entry account, in connection with which a money transfer will be made to the tax authority, which corresponds to the value of 4,222 shares as income tax and asset transfer tax.

Under the terms of the CEO's written service contract, the contract may be terminated at a six months' notice, either by the CEO or the Company. If the Company terminates the contract, it must pay the CEO, in addition to statutory compensation for the notice period, an amount equivalent to the fixed total salary paid for the 12 months preceding the termination. The Company may also terminate the agreement with immediate effect, by paying an indemnification equivalent to the CEO's fixed total salary for 18 months. Retirement age for the CEO will be determined in accordance with the Employees' Pensions Act (TyEL), however, both the Company and the CEO may require the CEO’s retirement at the age of 63 years. The company has also taken a defined contribution pension insurance for the CEO, into which the company annually pays €40,000. The Company has further concluded a pension arrangement based on a capitalisation agreement for the benefit of the CEO, into which the company annually pays €40,000. In 2016, the Board concluded to increase the payment based on the capitalisation agreement by €10,000 so that the company payment was €50,000 in 2017 and will be €50,000 also in 2018.

President of Uponor Infra Oy and member of the Executive Committee, Mr Sebastian Bondestam acted in 2017 as the deputy to the managing director of the parent company. The company has taken a defined contribution pension plan for Mr Sebastian Bondestam, deputy to the managing director, according to which he shall be entitled to a contribution of 8,85% of the annual base salary including fringe benefits for the year 2017. The Board shall decide on the percentage of the defined contribution separately for each year.