4. Personnel expenses
EUR 1,000 | 2020 | 2019 | ||
Wages and salaries | -6,363 | -6,953 | ||
Pension expenses | -551 | -550 | ||
Other personnel expenses | -775 | -338 | ||
Personnel expenses total | -7,689 | -7,840 | ||
Average number of employees during the period | 2020 | 2019 | ||
Management and administration | 10 | 10 | ||
Other personnel | 29 | 30 | ||
Total average number of employees | 39 | 40 | ||
Salaries, fees, remunerations and pensions to the management | ||||
EUR 1,000 | Salaries, fees, remunerations 2020 |
Salaries, fees, remunerations 2019 |
Obligatory pension expenses 2020 | Obligatory pension expenses 2019 |
Padma Ravichander, CEO as from 18 April 2016 | 2,584 | 431 | ||
Members of the Board of Directors: | ||||
Neil Macleod, Chairman of the Board 24.9.2018- | 64 | 55 | ||
Jyoti Desai, Vice Chairman of the Board 24.9.2018- | 42 | 38 | ||
Conrad Neil Phoenix 24.9.2018- | 32 | 28 | ||
Anders Fernander 5.9.2019- | 30 | 9 | ||
Markku Wilenius 10.9.2020- | 9 | |||
Kaj Hagros 15.5.2019 - 10.9.2020 | 20 | 19 | 5 | |
Priyesh Ranjan 24.9.2018 - 1.7.2019 | 16 | |||
Harri Koponen 2008 - 15.5.2019 | 23 | 6 | ||
Christer Sumelius 2001 - 15.5.2019 | 13 | |||
Pentti Heikkinen 2009 - 15.5.2019 | 13 | 3 | ||
Total | 195 | 646 | 0 | 14 |
The pension benefits of the members of Board of Directors are determined by the Finnish Employees Pensions Act (Tyel). The members of Board of Directors have no additional pension arrangements. | ||||
The CEO has a CEO contract, which is made according to Finnish law. The CEO is responsible for tax and other compulsory payments. | ||||
Share-based incentive scheme | ||||
Tecnotree group has an employee incentive program for 2020 -2022 designed to align the participants' focus with Tecnotree’s growth strategy and long-term success. The LTI Plan includes Restricted Share Units (RSUs) giving a contractual right to receive shares over the next 3 year period as per an equated semi-annual vesting schedule. More details on the incentive scheme in note 5 in the consolidated financial statements. |