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Mr. Pertti Korhonen
M. Sc. (Electronics Engineering)
b. 1961, Finnish citizen
Board Membership:
Elisa Oyj, Rautaruukki Oyj (member of the remuneration committee), Veho Group Oy
Outotec share ownership |
Work experience
| January 1, 2010 - |
President and CEO, Outotec Oyj |
| October 1 - December 31, 2009 |
Chief Operating Officer, Outotec Oyj |
| 2006 - June 3, 2009 |
CEO, Elektrobit Corporation Plc |
| 2004 - 2006 |
Chief Technology Officer, Nokia, Executive Vice President, Nokia Technology Platforms |
| 2002 - 2006 |
Member, Nokia Group Executive Board |
| 2001 - 2003 |
Executive Vice President, Nokia Mobile Software |
| 1990 - 2001 |
Various management positions in Nokia Mobile Phones, such as Senior Vice President, Global Operations, Logistics and Sourcing; Vice President, Manufacturing Europe; Project Executive; Vice President, R&D |
| 1990 |
Vice President, Product Development, Micronas Oy |
| 1988 - 1990 |
Design Manager, Nokia-Mobira |
| 1987 - 1988 |
Design Engineer, Mobira |
Duties and responsibilities of the CEO
The CEO is responsible for managing and controlling the company’s business and day-to-day operations with the aim of securing significant, sustained increase in the value of the company for its shareholders. The CEO prepares matters for decision by the Board of Directors, develops the group in line with the targets agreed upon with the Board of Directors and ensures proper implementation of the decisions of the Board of Directors.
It is further the duty of the CEO to ensure that the company’s operations are in compliance with the laws and regulations applicable at the time. The CEO may have a deputy who will attend to the duties of the CEO in the event that the CEO is prevented from doing so him- or herself. The CEO shall make his/her most important decisions in the Executive Board meetings, and such decisions shall be recorded in the minutes of these meetings.
Remuneration and service contract of CEO
The compensation of the President and CEO is subjet to the decision of the Board of Directors of the Outotec Oyj. The annual base salary of the President and CEO includes following fringe benefits: company car, home and mobile phone and home computer. In addition to base salary, the President and CEO will be paid annual bonus that is maximum 60% of his base salary. Targets for the bonus are decided annually by the Board of Directors.
The President and CEO also participates Outotec's share-based incentive program for key personnel.
Period of Notice
The service contract of the President and CEO can be terminated by the company with 12 months notice period and by the President and CEO with 6 months notice period. The President and CEO will be compensated with a total lump sum corresponding to the base salary of 12 months if the service contract is terminated either by the company, or by the President and CEO because of the justified reason related to company. This kind of reason can be, for example, transfer of the tasks of the President and CEO to a third party.
No such separate compensation will be paid if the President and CEO resigns by his own request for other reasons than above mentioned justified reason related to company, or if the company terminates the service contract because of the substantial breach of contract by the President and CEO comparable to reasons mentioned in chapter 8 section 1 of the Employment Contracts Act, or it is agreed mutually between the company and the President and CEO that he will transfer to a new position in Outotec.
Retirement age
The contract shall expire without separate termination when the President and CEO retires, earliest at the age of 63. The CEO’s pension benefits are determined by valid statutory Finnish pension legislation.