The Nomination and Remuneration Committee

The Nomination and Remuneration Committee ensures that the remuneration principles proposed are based on the short- and long-term objectives of AS Tallinna Vesi, taking into account the financial performance of AS Tallinna Vesi and the legitimate interests of investors.

The Nomination and Remuneration Committee also ensures that the proportion of remuneration for the principal job and performance related pay (PRP) are in accordance with the duties of the Management Board Member and that the remuneration for the principal job forms a sufficient part of the total remuneration. According to the existing PRP principles, members of the Management Board are entitled to a maximum PRP of 25% of their annual gross salary. The PRP depends on the annual financial and operational performance of the company, 60% of the PRP is related to Group objectives and 40% of PRP is related to individual specific objectives. The proportion and objectives are reviewed and confirmed by the remuneration and nomination committee. If the annual results are worse than expected, a decision can be taken not to pay any PRP.

The Nomination and Remuneration Committee consists of the following members of the Supervisory Board:

  • Martin Benjamin Padley (Chairman of the Nomination and Remuneration Committee)
  • Priit Rohumaa (Member of the Nomination and Remuneration Committee)
  • Simon Roger (Gardiner Member of the Nomination and Remuneration Committee)