Exel Composites Plc’s Board of Directors has resolved on a new long-term incentive program for the Company Executives
Exel Composites Plc Stock exchange release 19.2.2016 at 8.45 a.m. EET
Exel Composites Plc’s Board of Directors has resolved on a new long-term incentive program for the Company Executives
The Board of Directors of Exel Composites Plc has on 18 February 2016 approved a new incentive program for the executives of the Company. The aim of the new program is to combine the objectives of the shareholders and the executives in order to increase the value of the Company, to commit the executives to the Company and to offer the executives a competitive reward program. The new program is based on a long-term monetary performance reward, and the program is targeted at approximately 20 executives for the earning period 2016-2018. The CEO and members of the Group Management Team are included in the target group of the new incentive program.
The new program includes one earning period, the calendar years 2016-2018. The potential long-term monetary performance reward from the program for the earning period 2016-2018 will be based on the Group’s cumulative Economic Profit and on the Group’s Total Shareholder Return (TSR).
The potential reward from the earning period 2016-2018 will be paid in 2019. No reward will be paid to an executive that resigns before the reward payment unless the executive is leaving the Company due to retirement.
The maximum reward to be paid on the basis of the earning period 2016-2018 will be EUR 1.0 million excluding employer’s social costs.
Vantaa, 19 February 2016
EXEL COMPOSITES PLC
Riku Kytömäki
President and CEO
For further information please contact:
Riku Kytömäki, President and CEO, Exel Composites Plc, tel. +358 50 511 8288,or email riku.kytomaki@exelcomposites.com
Mikko Kettunen, CFO, Exel Composites Plc, tel. +358 50 3477 462, or email
mikko.kettunen@exelcomposites.com
Distribution
Nasdaq Helsinki Ltd
Main news media
www.exelcomposites.com
Exel Composites in brief
Exel Composites (www.exelcomposites.com) is a leading composite technology company that designs, manufactures and markets composite products and solutions for demanding applications. Exel Composites provides superior customer experience through continuous innovation, world-class operations and long-term partnerships.
The core of the operations is based on own, internally developed composite technology, product range based on it and strong market position in selected segments with a strong quality and brand image. Profitable growth is pursued by a relentless search for new applications and development in co-operation with customers. The personnel's expertise and high level of technology play a major role in Exel Composites' operations. Exel Composites Plc share is listed on Nasdaq Helsinki Ltd.