Minister Paatero calls for cancellation of remuneration increases for Fortum and Neste Oil board members

Government Communications Department 27.1.2015 13.07
Press release 40/2015

Minister responsible for State ownership steering Sirpa Paatero demands that state-owned companies scale their board members' remunerations to a level suitable to the economic situation of the society. The remunerations or their increases must not - in this economic situation - be excessive when at the same time ordinary wage-earners are expected to settle for moderate wage settlements and many live in fear of losing their jobs.

Last week, Neste Oil and Fortum nomination committees presented their proposal which included a considerable increase in the remuneration of the chairmen and members of the boards of directors. The reasons for an increase proposal include that remunerations lag behind the level of other equivalent companies and that these companies need to be able to attract the best possible experts in the boards of directors.

- The nomination committees have made their assessments from the point of view of the companies. A decision-maker with political responsibility must, however, have a wider perspective on this. Increases cannot be considered appropriate in this situation. Finland needs a shared resolve in this and everyone is expected to participate. Experiences of inequality would crush the idea of a common purpose in a difficult economic situation, Paatero says.

Inquiries:
Minister Sirpa Paatero
Paavali Kukkonen, Special Adviser, Prime Minister's Office, [email protected] +358 50 566 3455