Fortnox Management
Management criteria checks 3/4
Fortnox's CEO is Tommy Eklund, appointed in Jan 2020, has a tenure of 5.08 years. total yearly compensation is SEK11.10M, comprised of 30.6% salary and 69.4% bonuses, including company stock and options. directly owns 0.058% of the company’s shares, worth SEK27.46M. The average tenure of the management team and the board of directors is 4.1 years and 5.1 years respectively.
Key information
Tommy Eklund
Chief executive officer
SEK 11.1m
Total compensation
| CEO salary percentage | 30.6% |
| CEO tenure | 5.1yrs |
| CEO ownership | 0.06% |
| Management average tenure | 4.1yrs |
| Board average tenure | 5.1yrs |
Recent management updates
Recent updates
CEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Sep 30 2024 | n/a | n/a | SEK 690m |
| Jun 30 2024 | n/a | n/a | SEK 650m |
| Mar 31 2024 | n/a | n/a | SEK 613m |
| Dec 31 2023 | SEK 11m | SEK 3m | SEK 570m |
| Sep 30 2023 | n/a | n/a | SEK 476m |
| Jun 30 2023 | n/a | n/a | SEK 439m |
| Mar 31 2023 | n/a | n/a | SEK 386m |
| Dec 31 2022 | SEK 9m | SEK 3m | SEK 347m |
| Sep 30 2022 | n/a | n/a | SEK 315m |
| Jun 30 2022 | n/a | n/a | SEK 282m |
| Mar 31 2022 | n/a | n/a | SEK 262m |
| Dec 31 2021 | SEK 7m | SEK 3m | SEK 241m |
| Sep 30 2021 | n/a | n/a | SEK 232m |
| Jun 30 2021 | n/a | n/a | SEK 216m |
| Mar 31 2021 | n/a | n/a | SEK 210m |
| Dec 31 2020 | SEK 6m | SEK 3m | SEK 205m |
Compensation vs Market: Tommy's total compensation ($USD1.00M) is below average for companies of similar size in the UK market ($USD2.89M).
Compensation vs Earnings: Tommy's compensation has increased by more than 20% in the past year.
CEO
Tommy Eklund (48 yo)
5.1yrs
Tenure
SEK 11,100,000
Compensation
Mr. Tommy Eklund is the Chief Executive Officer and President at Fortnox AB since January 2020.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & President | 5.1yrs | SEK 11.10m | 0.058% SEK 27.5m | |
| Deputy CEO & CFO | 4.1yrs | SEK 4.90m | 0.034% SEK 16.1m | |
| COO & Business Area Manager | 4.1yrs | no data | 0.0028% SEK 1.3m | |
| Customer Experience & Brand Manager | no data | no data | no data | |
| Business Area Manager | no data | no data | 0.00011% SEK 51.7k | |
| Business Area Manager Entrepreneurship | no data | no data | 0.00082% SEK 385.6k | |
| Business Area Manager Financial Services | no data | no data | 0.0016% SEK 771.3k | |
| Business Area Manager of Accounting Firms | no data | no data | 0.00074% SEK 348.0k |
4.1yrs
Average Tenure
48yo
Average Age
Experienced Management: FNOXS's management team is considered experienced (4.1 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Independent Director | 4.1yrs | SEK 300.00k | 0.0051% SEK 2.4m | |
| Chairman of the Board | 14.1yrs | SEK 800.00k | 18.94% SEK 8.9b | |
| Independent Director | 9.1yrs | SEK 400.00k | 0.00013% SEK 61.1k | |
| Director | less than a year | no data | no data | |
| Independent Director | 6.1yrs | SEK 300.00k | 0.0036% SEK 1.7m | |
| Independent Director | 4.1yrs | SEK 400.00k | 0.00031% SEK 145.8k |
5.1yrs
Average Tenure
60.5yo
Average Age
Experienced Board: FNOXS's board of directors are considered experienced (5.1 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2025/02/02 02:21 |
| End of Day Share Price | 2025/01/30 00:00 |
| Earnings | 2024/09/30 |
| Annual Earnings | 2023/12/31 |
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 |
|
|
| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
|
* 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 here.
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 .
Analyst Sources
Fortnox AB (publ) is covered by 14 analysts. 9 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 |
| Simon Granath | ABG Sundal Collier Sponsored |
| Victor Cheng | BofA Global Research |