New Wave Group AB Annual_report_2018_EN_HQ | Page 108

NWG // FINANCIAL INFORMATION //
THE PARENT COMPANY
Note 5 - Salaries, other remuneration and
social security contributions
SEK million
2018
Social
Salaries and other
security
remuneration contributions
22.0
11.8
Of which
pension costs
2017
Social
Salaries and other
security
remuneration contributions
3.9
Of which
pension costs
17.8 9.1 2.8
Of the Parent company's pension costs SEK 0.4 million
(SEK 0.4 million) concerns the Board and the CEO.
Salaries and other remuneration divided between Board members, CEO and other employees
SEK million
2018
Board
and CEO Of which
bonus Other
employees 2017
Board
and CEO Of which
bonus Other
employees
1.9 0.0 20.1 2.0 0.0 15.8
2018 2017
Board members' fees
External members of the Parent
company's Board
Of which to the Chairman of the Board
1.0 1.1
0.3 0.3
Remuneration committee for the Parent company has not been elected. The fees paid to the Chairman of the Board and the Board of Directors 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's fees
or other remuneration such as bonuses are paid to the
CEO. As pension insurance for the CEO, a market-
adjusted defined contribution plan is in place. A
mutual notice period of six months applies for the
CEO and no severence pay is awarded. No board member fees are paid when senior
executives take part of Group companies' boards.
Market-adjusted defined contribution pension plan
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.
Conditions of employment for
other senior executives Decision-making process
Other senior executives refers to the three persons
employed by the Parent company whom together
with the CEO is a part of the Group management. For
the structure of the Group management, see page
54 of this report. Renumeration to the other senior
executives comprises a fixed salary and in one case
bonus based on development in terms of inventory
turnover, operating margin and turnover for appli-
cable segment.
108 // ANNUAL REPORT
There is no specially appointed renumeration
committee to deal with wages, 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 Chairman of the
Board. The board members' fees are decided by the
Annual General Meeting.