Teleste´s approach to remuneration
Teleste strives to develop and succeed in its various fields of business, both in Finland and internationally, so strong performances and achievements are recognized and rewarded. At Teleste, the personnel’s total remuneration is based on the company’s strategic goals. Accordingly, the remuneration of Teleste’s personnel is guided by performance-based remuneration policies, which structure the remuneration model within the organization and ensure that the remuneration of the personnel is in-line with the interests of the company and its shareholders.
Teleste believes in the consistency of remuneration practices. The key objective of the remuneration scheme is to encourage the company’s management to increase shareholder value by aligning the management’s interests with the interests of Teleste’s shareholders. The management is rewarded for concrete achievements in executing the company’s financial performance and strategy as described in this policy. The Board of Directors decides on the company’s remuneration scheme’s basis and on other strategic matters concerning the personnel. The purpose of Teleste’s remuneration principles is to make the company an attracting employer and to engage and motivate the personnel through remuneration solutions that entitle to remuneration based on achievement of strategic and operational results.
The Annual General Meeting held on 22 April 2020 approved the proposal by the Board of Directors for the remuneration policy of the governing bodies of the company.
The policy shall be applicable until the company’s General Meeting in 2024, unless the policy is amended or replaced by a new remuneration policy before that.