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Electronics Production | April 18, 2007

Elcoteq`s Antti Piippo highest-paid<br>board chairman in Finland

Helsingin Sanomat has made a study to see the highest fees for a chairman of the board In Finland. According to the study Elcoteq`s Chairman Antti Piippo is the highest-paid board chairman In Finland.
Anti Piippo gets EUR 600,000 a year for serving as Elcoteq's Chairman of the Board. Piippo gets nearly twice as much as Jorma Ollila, Nokia's Chairman, despite Nokia`s market value is more than 400 times bigger than Elcoteq. There are no official guidelines for what corporate chairs should earn. The decisions are made at shareholders' meetings. If Elcoteq were excluded, the average payment would be EUR 91,000.

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