Billerud Management

Management criteria checks 2/4

Billerud's CEO is Ivar Vatne, appointed in Jul 2023, has a tenure of 1.33 years. total yearly compensation is SEK4.64M, comprised of 67.9% salary and 32.1% bonuses, including company stock and options. directly owns 0.016% of the company’s shares, worth SEK4.04M. The average tenure of the management team and the board of directors is 1.3 years and 3.3 years respectively.

Key information

Ivar Vatne

Chief executive officer

SEK 4.6m

Total compensation

CEO salary percentage	67.9%
CEO tenure	1.3yrs
CEO ownership	0.02%
Management average tenure	1.3yrs
Board average tenure	3.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ivar Vatne's remuneration changed compared to Billerud's earnings?
Date	Total Compensation	Salary	Company Earnings
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 ($USD419.80K) is below average for companies of similar size in the UK market ($USD2.19M).

Compensation vs Earnings: Insufficient data to compare Ivar's compensation with company performance.

CEO

Ivar Vatne (46 yo)

1.3yrs

Tenure

SEK 4,636,000

Compensation

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
Ivar Vatne	President & CEO	1.3yrs	SEK 4.64m	0.016% SEK 4.0m
Andrei Kres	Chief Financial Officer	1.3yrs	no data	0.0016% SEK 410.0k
Lena Schattauer	Head of Investor Relations & Director Investor Relations	no data	no data	no data
Andreas Mattsson	Executive Vice President of Legal & Strategic Projects	no data	no data	0.0072% SEK 1.8m
Paulina Ekvall	Executive Vice President of Human Resources & Communications	7.8yrs	no data	0.0084% SEK 2.1m
Louise Bjarke	Head of Press	no data	no data	no data
Matthew Hirst	President of Europe	1.3yrs	no data	0.011% SEK 2.8m
Ulrika Wedberg	Executive Vice President of Sustainability & Public Affairs	1.3yrs	no data	0.0013% SEK 318.0k
Robert Pletzin	Head of Media Relations	less than a year	no data	no data
Doug Schwartz	President of Billerud North America	less than a year	no data	no data

1.3yrs

Average Tenure

47yo

Average Age

Experienced Management: 0GWS's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Magnus Nicolin	Independent Director	2.5yrs	SEK 580.00k	0.0048% SEK 1.2m
Andreas Blaschke	Independent Director	less than a year	no data	no data
Jan Svensson	Independent Chairman of the Board	4.5yrs	SEK 1.75m	0.012% SEK 3.0m
Florian Heiserer	Director	2.5yrs	SEK 680.00k	0.00080% SEK 198.8k
Victoria Van Camp	Independent Director	7.5yrs	SEK 605.00k	0.0016% SEK 402.5k
Regi Aalstad	Independent Director	1.5yrs	SEK 680.00k	no data
Nicklas Johansson	Employee Representative Director	7.8yrs	no data	no data
Bo Knoos	Deputy Director	7.8yrs	no data	no data
Per Bertilsson	Employee Representative Director	3.8yrs	no data	no data
Magnus Axelsson	Deputy Director	2.8yrs	no data	0.000050% SEK 12.4k

3.3yrs

Average Tenure

60yo

Average Age

Experienced Board: 0GWS's board of directors are considered experienced (3.3 years average tenure).

Billerud Management

Management criteria checks 2/4

Key information

Recent management updates

Billerud AB (publ), Annual General Meeting, May 20, 2025

Billerud Appoints Doug Schwartz as President Billerud North America and Member of the Group Management Team, Effective 30 September 2024

Insider recently sold kr333k worth of stock

Billerud Announces Executive Changes

High number of new directors

Jan Åström Declines Re-Election to Board of Billerud AB (publ)

Recent updates

Now 21% undervalued after recent price drop

New minor risk - Dividend sustainability

Third quarter 2024 earnings released: EPS: kr2.27 (vs kr2.64 in 3Q 2023)

Billerud AB (publ), Annual General Meeting, May 20, 2025

Billerud Appoints Doug Schwartz as President Billerud North America and Member of the Group Management Team, Effective 30 September 2024

Now 20% undervalued

Second quarter 2024 earnings released: EPS: kr0.25 (vs kr1.94 loss in 2Q 2023)

Insider recently sold kr333k worth of stock

Billerud AB (publ) to Report Q4, 2024 Results on Jan 30, 2025

Billerud Announces Executive Changes

High number of new directors

Billerud AB (Publ) Approves Dividend for 2023, Payable on 28 May 2024

Upcoming dividend of kr2.00 per share

Jan Åström Declines Re-Election to Board of Billerud AB (publ)

Full year 2023 earnings released: EPS: kr1.95 (vs kr20.13 in FY 2022)

Dividend of kr2.00 announced

New minor risk - Earnings quality

Billerud AB Proposes Dividend for 2023

Billerud AB Proposes Dividend for 2023

Billerud Aktiebolag Appoints Robert Pletzin as Head of Media Relations, Effective April 1, 2024

Billerud AB (publ) Appoints Andrei Krés as CFO

Billerud AB (Publ) Appoints Ivar Vatne as President

Third quarter 2023 earnings released: EPS: kr2.64 (vs kr5.42 in 3Q 2022)

Billerud Aktiebolag Announces Nomination Committee for cAnnual General Meeting 2024

Billerud AB (publ) to Report Q2, 2024 Results on Jul 19, 2024

President of the North America recently bought kr282k worth of stock

Billerud AB (Publ) Announces Management Changes

Billerud AB Announces Retirement of Christoph Michalski as CEO

Now 20% undervalued after recent price drop

New minor risk - Dividend sustainability

Second quarter 2023 earnings released: kr1.94 loss per share (vs kr6.83 profit in 2Q 2022)

Mimir Invest AB signed an agreement to acquire Billerud Managed Packaging Ab from Billerud AB (publ) (OM:BILL).

High number of new directors

Billerud Aktiebolag (Publ) Resolves to Pay Dividend , Payable on 31 May 2023

Upcoming dividend of kr7.50 per share at 5.7% yield

Insider recently sold kr309k worth of stock

Insider recently sold kr309k worth of stock

President & CEO recently bought kr1.5m worth of stock

Full year 2022 earnings released

Independent Director recently bought kr78k worth of stock

Billerud AB (Publ) Declares Extraordinary Dividend for Fiscal Year 2022

Full year 2022 earnings released: EPS: kr20.13 (vs kr7.18 in FY 2021)

Less than half of directors are independent

Third quarter 2022 earnings released

Billerud Aktiebolag Appoints Ivar Vatne as Deputy CEO

BillerudKorsnäs AB (publ) Announces Nomination committee for the 2023 Annual General Meeting

BillerudKorsnäs AB (publ) to Report Q1, 2023 Results on Apr 26, 2023

Second quarter 2022 earnings released

BillerudKorsnäs AB (publ) has completed a Follow-on Equity Offering in the amount of SEK 3.497589 billion.

Independent Director recently bought kr1.3m worth of stock

President & CEO recently bought kr979k worth of stock

Less than half of directors are independent

BillerudKorsnäs AB (publ) Announces Board Appointments

First quarter 2022 earnings released: EPS: kr4.27 (vs kr1.82 in 1Q 2021)

Upcoming dividend of kr4.30 per share

BillerudKorsnäs AB (publ) to Report Q1, 2022 Results on Apr 26, 2022

Full year 2021 earnings released: EPS: kr7.18 (vs kr3.27 in FY 2020)

Billerudkorsnäs Proposes Dividend, Payable 17 May 2022

BillerudKorsnäs AB (publ) to Report Fiscal Year 2021 Final Results on Apr 08, 2022

President & CEO recently bought kr1.2m worth of stock

Chairman of the Board recently bought kr742k worth of stock

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

BillerudKorsnäs AB (publ) Proposes Dividend for the Fiscal Year 2021

Chairman of the Board recently bought kr1.1m worth of stock

Investor sentiment deteriorated over the past week

BillerudKorsnäs AB (publ) (OM:BILL) entered into a definitive merger agreement to acquire Verso Corporation (NYSE:VRS) for approximately $810 million.

Third quarter 2021 earnings released: EPS kr2.31 (vs kr0.25 in 3Q 2020)

Executive Vice President of Technology recently sold kr688k worth of stock

Second quarter 2021 earnings released: EPS kr1.50 (vs kr1.05 in 2Q 2020)