Billerud Management
Management criteria checks 2/4
Billerud's CEO is Ivar Vatne, appointed in Jul 2023, has a tenure of 2.33 years. total yearly compensation is SEK15.49M, comprised of 52.9% salary and 47.1% bonuses, including company stock and options. directly owns 0.021% of the company’s shares, worth €432.33K. The average tenure of the management team and the board of directors is 1.6 years and 3.8 years respectively.
Key information
Ivar Vatne
Chief executive officer
SEK 15.5m
Total compensation
| CEO salary percentage | 52.92% |
| CEO tenure | 2.3yrs |
| CEO ownership | 0.02% |
| Management average tenure | 1.6yrs |
| Board average tenure | 3.8yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2025 | n/a | n/a | SEK 1b |
| Jun 30 2025 | n/a | n/a | SEK 2b |
| Mar 31 2025 | n/a | n/a | SEK 2b |
| Dec 31 2024 | SEK 15m | SEK 8m | SEK 2b |
| Sep 30 2024 | n/a | n/a | SEK 611m |
| Jun 30 2024 | n/a | n/a | SEK 702m |
| Mar 31 2024 | n/a | n/a | SEK 158m |
| Dec 31 2023 | SEK 5m | SEK 3m | SEK 484m |
Compensation vs Market: Ivar's total compensation ($USD1.63M) is below average for companies of similar size in the German market ($USD2.36M).
Compensation vs Earnings: Ivar's compensation has increased by more than 20% in the past year.
CEO
Ivar Vatne (47 yo)
Mr. Ivar Vatne was Executive Vice President at Billerud AB (publ) (Billerud Aktiebolag (formerly known as BillerudKorsns AB (publ))) since May 2019 until August 2023 and served as its Deputy Chief Executiv...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President & CEO | 2.3yrs | SEK 15.49m | 0.021% € 432.3k | |
| Chief Financial Officer | 2.3yrs | no data | 0.0019% € 40.0k | |
| Head of Investor Relations & Director Investor Relations | no data | no data | no data | |
| Executive Vice President of Legal & Strategic Projects | no data | no data | 0.0047% € 97.4k | |
| Executive Vice President of Human Resources & Communications | 8.8yrs | no data | 0.0084% € 175.5k | |
| Head of Press | no data | no data | no data | |
| SVP Operations of Billerud Europe | less than a year | no data | no data | |
| Head of Media Relations | 1.6yrs | no data | no data | |
| President of North America | 1.2yrs | no data | 0.0072% € 150.1k | |
| President of Billerud Europe | less than a year | no data | no data | |
| Deputy President of North America | no data | no data | 0.0010% € 21.9k |
Experienced Management: BNF's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 3.5yrs | SEK 720.00k | 0.010% € 209.2k | |
| Independent Director | 1.5yrs | SEK 600.00k | 0.0016% € 34.3k | |
| Independent Chairman of the Board | 5.5yrs | SEK 1.81m | 0.016% € 336.4k | |
| Director | less than a year | no data | no data | |
| Director | 3.5yrs | SEK 850.00k | 0.00080% € 16.7k | |
| Independent Director | 8.5yrs | SEK 630.00k | 0.0016% € 33.7k | |
| Independent Director | 2.5yrs | SEK 720.00k | 0.0043% € 89.5k | |
| Employee Representative Director | 8.8yrs | no data | no data | |
| Deputy Director | 8.8yrs | no data | no data | |
| Employee Representative Director | 4.8yrs | no data | no data | |
| Deputy Director | 3.8yrs | no data | 0.000050% € 1.0k |
Experienced Board: BNF's board of directors are considered experienced (3.8 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/11/27 11:27 |
| End of Day Share Price | 2025/11/26 00:00 |
| Earnings | 2025/09/30 |
| Annual Earnings | 2024/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Billerud AB (publ) is covered by 13 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Patrick Langstrom | ABG Sundal Collier Sponsored |
| Justin Jordan | BNP Paribas |