Remuneration
The Remuneration of Relais Group complies with the Remuneration Policy published on 14 March 2023.
The Remuneration Policy was reviewed by the Annual General Meeting held on 5 April 2023.
The Remuneration Report providing information on the remuneration paid during the previous financial year is available as a separate report.
Decision-making process in remuneration
The Remuneration Policy is presented to the Annual General Meeting every four years. The Board of Directors reviews the Remuneration Policy regularly to ensure its compliance with Relais Group Plc’s strategic targets and long-term targets before its next presentation at the 2027 Annual General Meeting, unless the Board of Directors deems it necessary to make substantial changes to the Remuneration Policy before 2027 and presents it at an earlier general meeting for advisory decision-making.
In accordance with the Remuneration Policy, Relais Group Plc’s Board supervises the implementation of the Remuneration Policy and ensures that the remuneration of the company’s governing bodies takes place within the framework of the Remuneration Policy presented to the general meeting. Relais Group Plc’s Annual General Meeting decides annually on the remuneration of the Board members based on the proposal prepared by the company’s largest shareholders. The Remuneration Report was reviewed at the Annual General Meeting of Relais Group Plc in 2025. The purpose of the Remuneration Report is to describe how the Remuneration Policy has been applied in 2024 regarding the payment of remuneration and to align remuneration with the successful achievement of the long-term strategy.
Board of Directors
The General Meeting decides on the remuneration of the Board members.
Relais Group Plc’s Annual General Meeting on 10 April 2025, decided that the board members will be paid an annual fee for the term ending at the 2026 ordinary AGM as follows:
EUR 42,000 for the chairman of the board and EUR 21,000 for the board members, and that any travel expenses of the board members will be reimbursed in accordance with the company’s travel policy. The Board of Directors has no meeting fees or other benefits in addition to the annual renumeration.
The Board members are not employed or assigned by the company and therefore have not received any financial compensation from the company in 2024, except for the annual fee and travel expenses reimbursed in accordance with the principles adopted by the aforementioned general meeting.
Remuneration paid in 2024
| Name | Position | Annual fee, total, eur |
| Jesper Otterbeck | Chair of the Board | 40,000 |
| Anders Borg | member | 20,000 |
| Olli-Pekka Kallasvuo | member | 20,000 |
| Katri Nygård | member | 20,000 |
| Lars Wilsby | member | 20,000 |
Group CEO
The Company’s Board of Directors decides on the remuneration of and terms applicable to the CEO.
The remuneration of the CEO consists of:
- Fixed annual salary
- Short-term performance-based bonuses
- Long-term incentive schemes
There are three long-term incentive schemes and they are valid from 2021 to 2027.
The objectives of the CEO’s performance bonus are related to the development of the company’s business and financial performance.
The payment of potential rewards from the CEO’s long-term incentive plans will be based on the company’s share price share price development, i.e. the creation of long-term shareholder value.
In 2024, the CEO of Relais was paid salary and remuneration as follows:
- Fixed annual salary EUR 263,337.61
- Performance-based bonus in cash of EUR 47,000.00 (reward accrued for 2023 and paid in 2024).
The maximum amount of the cash reward to be paid on the basis of the short-term incentive scheme in the 2023 and 2024 performance bonus schemes was 50% of the fixed annual salary. The reward to be paid from the incentive plan is based on the Group’s earnings per share, working capital efficiency and qualitative business development targets.
The Board of Directors of Relais Group prepares and approves the principles of different remuneration systems and salary components, and decides on the CEO’s salary, bonuses and key terms of employment within the framework of the Remuneration Policy of the governing bodies presented to the general meeting.
The pension benefits of the Company’s CEO are determined in accordance with the law and general practice. The Company does not have supplementary pensions or insurance arrangements in place for the CEO.
Management team
The remuneration of the Management team consists of:
- Fixed annual salary
- Short-term performance-based bonuses
- Long-term incentive schemes
There are three long-term incentive schemes and they are valid from 2021 to 2027. For more information, see the Remuneration Report 2024.
The pension benefits of the members of the Management Team are determined in accordance with the law and general practice. The Company does not have supplementary pensions or insurance arrangements in place for the members of the Management Team.
Options owned by the Management Team 2024
| Management team | Options |
| Arni Ekholm | 40,000 options |
| Johan Carlos | 16,000 options |
| Thomas Ekström | 14,500 options |
| Juan Garcia | 27,500 options 1 |
| Jan Popov | 22,500 options |
| Sebastian Seppänen | 12,500 options |
| Juri Viitaniemi | – options |
1Through JG Management AB, a company controlled by Juan Garcia
