President and CEO
Raute Corporation's Board of Directors appoints the President and CEO and confirms the terms of his or her employment. Tthe evaluates the President and CEO's work annually.
Raute Corporation's President and CEO also acts as the Group's President and and as Chairman of the Group's Executive Board. The President and CEO represents the Group at the shareholders' meetings of subsidiaries and associates, and acts as Chairman of the subsidiaries' Boards of Directors, unless the Board decides otherwise in individual cases.
Tapani Kiiski, M.Sc. (Eng.) and Licentiate in Technology has been President and CEO of Raute Corporation since March 16, 2004. The President and CEO's deputy is CFO Arja Hakala, M.Sc.(Econ.) MBA.
Tapani Kiiski became Raute's Vice President, Wood Products Technology, on 18 March 2002 and was appointed Vice President, Sales and Technology on 27 November 2002.
According to the President and CEO Tapani Kiiski's executive contract, his annual salary and fringe benefits total EUR 294 thousand. In addition, he has the possibility to receive a profit-related bonus amounting to six months' salary at the most.
The contract does not include any special conditions concerning retirement or the amount of retirement allowance. The term of notice is six months, and the severance pay equals twelve months' salary.
The salaries and fees paid to Raute Corporation's President and CEO, Mr. Tapani Kiiski, in 2017 amounted to altogether EUR 615 thousand, which consists of regular salaries including fringe benefits of EUR 283 thousand, performance-based bonuses of EUR 129 thousand, and bonuses from the long-term incentive plans of EUR 204 thousand.
Tapani Kiiski owned 23,000 series A shares on December 31, 2017.