Below are guidelines regarding remuneration to the Board of Directors and senior executives.
Remuneration to the Board of Directors
The Board's fees are determined by the AGM on the basis of the state's ownership policy.
According to the decision by the AGM in 2017, the fee to the Chairman of the Board amounts to SEK 615,000 per year, while the fee to other AGM-elected members stands at SEK 270,000 per year. Remuneration is not paid to Board members who are employees of the Swedish Government Office, nor to employee representatives.
For more information about the Board's fees, see Note 6 in the annual and sustainability report.
Remuneration to senior executives
Remuneration to senior executives within LKAB follows the guidelines for remuneration and other employment terms laid down by the AGM for senior executives, LKAB's guidelines.
These guidelines are in turn based on the principles decided in the Government's established "Guidelines for renurmeration and other employment terms for senior executives in companies under state ownership" dated 22 December 2016.
The guidelines entail that remuneration and other employment terms for senior executives within LKAB must be competitive, have a set ceiling, be reasonable and appropriate. The remuneration must be characterised by moderation and transparency. The principle is a fixed basic salary, which means that there may not be any incentive programmes or other types of variable salary portions. No variable remuneration is therefore paid to senior executives in LKAB's Group management.
Remuneration to senior executives within LKAB is described in more detail in Note 6 in the annual and sustainability report.