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 13.2.2015 at 8.50 a.m.
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 12 February 2015 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 25 executives for the earning period 2015 − 2017. 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 2015 − 2017. The potential long-term monetary performance reward from the program for the earning period 2015 – 2017 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 2015 – 2017 will be paid in 2018. No reward will be paid to an executive, if his or her employment or service with the Group Company ends 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 2015 – 2017 will be EUR 1.5 million.
Vantaa, 13 February 2015
EXEL COMPOSITES PLC
Riku Kytömäki
President and CEO
Further information:
Riku Kytömäki, President and CEO, Exel Composites Plc, tel. +358 50 511 8288,or email riku.kytomaki@exelcomposites.com
Ilkka Silvanto, CFO, Exel Composites Plc, tel. +358 50 598 9553, or email ilkka.silvanto@exelcomposites.com
Distribution
NASDAQ OMX 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 in NASDAQ OMX Helsinki Ltd.