All Konecranes reward issues are decided by the ’one above’ principle, meaning that an employee’s rewards must always be confirmed by his/her manager’s superior. The decision-making process is depicted in the chart below.
Rewards for Board of Directors
The Annual General Meeting decides on the rewards for the Board of Directors and the Board’s Committees annually. The proposals are prepared by the Nomination Committee.
Rewards for President and CEO
The HR Committee prepares and reviews the President and CEO’s performance. External market data and experts are used to support the preparation and review. Based on the HR Committee's review, market comparison and other relevant facts, the Board determines the total remuneration element of the President and CEO.
Rewards for Group Executive Board and Senior Management
The Board evaluates and decides the total remuneration of the Group Executive Board members and other executives reporting directly to the President and CEO.