The Board of Directors encourages the Group Executive Team members to have direct share ownership in the company. It is recommended that the President and CEO maintains a share ownership of UPM shares corresponding to two-year gross base salary and the other Group Executive Team members a share ownership corresponding to a one-year gross base salary. Until the share ownership recommendation is fulfilled, the President and the CEO and the other Group Executive Team members shall retain 50% of the net shares received under the Company’s long-term incentive plans.
Management ownership
At the end of 2023, the President and CEO and other members of the Group Executive Team owned a total of 1,367,043 UPM shares, corresponding to 0.26% of the total number of shares and votes in the company.
