FINANCIAL INFORMATION THE GROUP
Board members ' fees |
2017 |
2016 |
External members of the parent company ' s Board |
1.1 |
0.9 |
Of which to the Chairman of the Board |
0.3 |
0.3 |
A remuneration committee for the parent company ’ s Board has not been elected . The fees paid to the Chairman of the Board and the Board members are in accordance with the decision of the Annual General Meeting .
CONDITIONS OF EMPLOYMENT FOR THE CEO Remuneration to the CEO comprises a fixed salary from New Wave Group AB . No Board member fees or other remuneration such as bonuses are paid to the CEO . As pension insurance for the CEO , a market-adjusted fixed payment plan is in place . A mutual notice period of six months applies for the CEO and no severance pay is awarded .
THE CONDITIONS OF EMPLOYMENT FOR OTHER SENIOR EXECUTIVES Other senior executives are the eight persons who make up the Group management together with the CEO . For the structure of the Group Management , see page 47 . Remuneration to the other senior executives comprises a fixed salary . No board member fees are paid . Market-adjusted fixed payment pension agreements exist for the other senior executives . A mutual notice period of between three to six months exists for the other senior executives and no severence pay is awarded .
DECISION-MAKING PROCESS There is no specially appointed remuneration committe to deal with salaries , pension benefits , incentives and other employment-related conditions for the CEO and the Group ’ s other senior executives ; these matters are dealt with by the Board as a whole . The salaries of the senior executives are decided by the CEO after consultation with the Chariman of the Board . The Board members ’ fees are decided by the Annual General Meeting .
Wages , salaries and other remuneration distributed by directors and other executives
SEK million |
2017 Salaries , other remuneration and fees
Of which bonus and similar
|
Pension costs
2016 Salaries , other remuneration and fees
Of which bonus and similar
|
Pension costs |
Torsten Jansson , CEO |
0.9 |
0.0 |
0.4 |
0.9 |
0.0 |
0.4 |
Olof Persson , newly elected Chairman of the Board 2016 |
0.3 |
0.0 |
0.0 |
0.3 |
0.0 |
0.0 |
Anders Dahlvig , resigning Chairman of the Board 2016 |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Christina Bellander , Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Elisabeth Dahlin , newly elected Board Member 2016 |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Helle Kruse Nielsen , resigning Board Member 2016 |
0.0 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Mats Årjes , Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
M Johan Widerberg , Board Member |
0.2 |
0.0 |
0.0 |
0.1 |
0.0 |
0.0 |
Other senior executives * |
13.8 |
1.1 |
2.1 |
13.1 |
0.3 |
1.1 |
Total |
15.8 |
1.1 |
2.5 |
14.9 |
0.3 |
1.5 |
* Individuals referred to on page 47 . |
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Subscriptions options The Group has no outstanding share warrants .
PENSION COMMITMENTS Defined benefit pension plans exist within the Group . These are only smaller pension plans . For white-collar employees in Sweden ITP 2-plan defined benefit pensionplans for retirement- and family pensions ( or family pension ) are secured through insurance with Alecta . According to a statement from the Swedish Financial Reporting Board , UFR 10 Accounting for pension plan ITP 2 financed by insurance in Alecta , this is a defined benefit plan that covers several employers . For financial year 2016 the company has not had access to information in order to account for its proportionate share of the plan ' s obligations , plan assets and costs which meant that the plan has not been possible to account for as a defined benefit plan . The pension plan ITP 2 secured through insurance with Alecta is therefore recognized as a defined contribution plan . The premium for the defined benefit retirement and family pension is individually calculated and is dependent on factors including salary , previously earned pension and expected remaining period of service . Expected premiums for 2018 amount to SEK 10.0 million ( SEK 7.3 million ).
The collective funding level is the market value of Alecta ’ s assets in percent of the commitments calculated in accordance with Alecta ´ s calculation assumptions for insurance purposes , which do not comply with IAS 19 . The collective consolidation level is normally allowed to vary between 125 and 155 percent . If Alecta ’ s consolidation level fall below 125 percent or exceed 155 percent , measures should be taken in order to create conditions to reestablish the consolidation level to the normal range . At low consolidation , a measure can be to raise the agreed price for new agreements . At high consolidation , a measure can be to introduce premium reductions . Alecta ’ s collective funding ratio at the end of the year was 154 % ( 149 %).
NWG 2017 | 73