Nokia 2006 Annual Report Download - page 85
Download and view the complete annual report
Please find page 85 of the 2006 Nokia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75 -
76 -
77 -
78 -
79 -
80 -
81 -
82 -
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
 |
 |
President, TDMA/GSM 1900 Product Line, Nokia Mobile Phones
19992002; Vice President, TDMA Product Line 19971999;
Holder of technical and managerial positions in Nokia
Consumer Electronics and Nokia Mobile Phones, 19911997.
Member of the Board of Directors of the Finnish Funding
Agency for Technology and Innovation (Tekes). Chairman of
the Research and Technology Committee of the Confederation
of Finnish Industries (EK).
6.B Compensation
The following section reports the remuneration to the Board of Directors and describes our
compensation policies and actual compensation for the Group Executive Board and other executive
officers as well as our use of equity incentives.
Board of Directors
For the year ended December 31, 2006, the aggregate remuneration of the nonexecutive members
of the Board of Directors was EUR 1 472 500. This amount includes the full annual remuneration of
Jorma Ollila, Chairman (Chairman and CEO until June 1, 2006) for his services as Chairman of the
Board of Directors, only. Nonexecutive members of the Board of Directors do not receive stock
options, performance shares, restricted shares or other variable compensation. The remuneration for
members of the Board of Directors is resolved annually by our Annual General Meeting, upon
proposal by the Corporate Governance and Nomination Committee of the Board. The remuneration is
resolved for the period from the respective Annual General Meeting until the next Annual General
Meeting.
When preparing the Board of Directors’ remuneration proposal, it is the policy of the Corporate
Governance and Nomination Committee of the Board to review and compare the level of board
remuneration paid in other global companies with net sales and business complexity comparable to
that of Nokia. The Committee’s aim is that the company has an effective Board consisting of world
class professionals representing appropriate and diverse mix of skills and experience. A competitive
Board remuneration contributes to our achievement of this target. Further, it is the company policy
that a significant proportion of director remuneration is paid in the form of Nokia shares.
Remuneration of the Board of Directors in 2006
The following table sets forth the total annual remuneration paid to the members of the Board of
Directors for 2006, as resolved by the shareholders at the Annual General Meeting on March 30, 2006.
84