Fortum Oyj Management

Management criteria checks 3/4

Fortum Oyj's CEO is Markus Rauramo, appointed in Jul 2020, has a tenure of 3.75 years. total yearly compensation is €3.06M, comprised of 52.6% salary and 47.4% bonuses, including company stock and options. directly owns 0.013% of the company’s shares, worth €1.39M. The average tenure of the management team and the board of directors is 3.1 years and 1 years respectively.

Key information

Markus Rauramo

Chief executive officer

€3.1m

Total compensation

CEO salary percentage	52.6%
CEO tenure	3.8yrs
CEO ownership	0.01%
Management average tenure	3.1yrs
Board average tenure	less than a year

Recent management updates

Recent updates

CEO Compensation Analysis

How has Markus Rauramo's remuneration changed compared to Fortum Oyj's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	€3m	€2m	€2b
Sep 30 2023	n/a	n/a	€467m
Jun 30 2023	n/a	n/a	-€1b
Mar 31 2023	n/a	n/a	€652m
Dec 31 2022	€3m	€2m	€2b
Sep 30 2022	n/a	n/a	€2b
Jun 30 2022	n/a	n/a	€7b
Mar 31 2022	n/a	n/a	€4b
Dec 31 2021	€4m	€2m	€4b
Sep 30 2021	n/a	n/a	€4b
Jun 30 2021	n/a	n/a	€1b
Mar 31 2021	n/a	n/a	€2b
Dec 31 2020	€2m	€808k	€2b

Compensation vs Market: Markus's total compensation ($USD3.28M) is below average for companies of similar size in the UK market ($USD5.62M).

Compensation vs Earnings: Markus's compensation has been consistent with company performance over the past year.

CEO

Markus Rauramo (55 yo)

3.8yrs

Tenure

€3,064,000

Compensation

Mr. Markus Heikki Erdem Rauramo, M. Sc. (Econ. and Pol.Hist.), served as the Chairman of Supervisory Board at Uniper SE since March 29, 2021. He has been Independent Director of Sampo Oyj since May 19, 20...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Markus Rauramo	President & CEO	3.8yrs	€3.06m	0.013% € 1.4m
Tiina Tuomela	Chief Financial Officer	1.1yrs	no data	0.0045% € 484.6k
Ensio Väisänen	Head of Corporate Financial Services Unit	16.8yrs	no data	no data
Ingela Ulfves	Vice President of Investor Relations & Financial Communications	no data	no data	no data
Nora Steiner-Forsberg	Executive VP of Legal	2.9yrs	no data	0.00018% € 19.5k
Heli Kurki	Head of Publicity & Communications	no data	no data	no data
Eveliina Dahl	Executive Vice President of People & Procurement	2.9yrs	no data	0.00032% € 34.6k
Alexander Chuvaev	Head of the Russia Division	14.5yrs	no data	no data
Mikael Rönnblad	Executive Vice President of Consumer Solutions	6.9yrs	no data	0.0023% € 249.9k
Bernhard Gunther	Chief Transformation Officer	no data	no data	0.000090% € 9.7k
Simon-Erik Ollus	Executive VP of Corporate Customers & Markets	3.1yrs	no data	0.00078% € 84.4k
Nebahat Albayrak	Executive Vice President of Sustainability & Corporate Relations	2.8yrs	no data	0.00038% € 41.1k

3.1yrs

Average Tenure

55yo

Average Age

Experienced Management: 0HAH's management team is considered experienced (3.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Teppo Paavola	Independent Director	4yrs	€78.00k	0.00078% € 84.4k
Vesa-Pekka Takala	Independent Director	less than a year	€67.00k	0.00014% € 15.1k
Mikael Silvennoinen	Independent Chair	less than a year	€125.00k	0.0011% € 114.7k
Jonas Gustavsson	Independent Director	less than a year	€69.00k	0.00014% € 15.1k
Ralf Christian	Independent Director	2.1yrs	€87.00k	0.00025% € 27.0k
Essimari Kairisto	Independent Deputy Chair	6.1yrs	€107.00k	0.00032% € 34.6k
Luisa Delgado	Independent Director	3yrs	€73.00k	0.00025% € 27.0k
Marita Niemela	Independent Director	less than a year	€59.00k	0.00014% € 15.1k
Johan Soderstrom	Independent Director	less than a year	€57.00k	0.00014% € 15.1k

1.0yrs

Average Tenure

57yo

Average Age

Experienced Board: 0HAH's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.

Fortum Oyj Management

Management criteria checks 3/4

Key information

Recent management updates

Fortum Announces Maija Strandberg Not to Stand for Election to the Board of Directors

Fortum Oyj Announces Appointment to Shareholders' Nomination Board

High number of new and inexperienced directors

Insider recently sold €775k worth of stock

High number of new directors

Fortum Oyj Announces Resignation of Alexander Chuvaev as Head of its Russia Division

Recent updates

Dividend of €0.57 announced

Upcoming dividend of €0.58 per share

Full year 2023 earnings released: EPS: €1.69 (vs €1.14 in FY 2022)

Fortum Proposes Dividend for the Year 2023, Payable on 5 April 2024 and 9 October 2024 Respectively

Fortum Announces Maija Strandberg Not to Stand for Election to the Board of Directors

Fortum Launches Green Finance Framework

Now 20% undervalued

Actis, Edelweiss, Petronas Reportedly Eye Fortum JV's Solar Assets

Third quarter 2023 earnings released: EPS: €0.21 (vs €0.68 in 3Q 2022)

Upcoming dividend of €0.45 per share at 7.6% yield

Fortum Oyj Announces Appointment to Shareholders' Nomination Board

Fortum Oyj to Report First Half, 2024 Results on Aug 15, 2024

ONGC, Four Others Reportedly Vie for Fortum Projects

New major risk - Dividend sustainability

Second quarter 2023 earnings released: EPS: €0.42 (vs €2.60 in 2Q 2022)

Fortum Oyj (HLSE:FORTUM) entered into a business transaction to acquire Slag processing business of GRK Suomi.

Now 21% undervalued after recent price drop

Fortum Oyj (HLSE:FORTUM) signed an agreement to acquire 100% stake in Telge Energi AB from Telge (I Södertälje) Ab for SEK 450 million.

First quarter 2023 earnings released: EPS: €0.63 (vs €2.50 loss in 1Q 2022)

High number of new and inexperienced directors

Now 21% undervalued after recent price drop

Upcoming dividend of €0.46 per share at 6.2% yield

Now 23% undervalued after recent price drop

Insider recently sold €775k worth of stock

Full year 2022 earnings released: EPS: €1.14 (vs €0.83 in FY 2021)

Fortum Oyj to Report Fiscal Year 2022 Results on Mar 02, 2023

Fortum Oyj to Report Nine Months, 2023 Results on Nov 02, 2023

Sistema Reportedly Drops Buying Uniper

Third quarter 2022 earnings released: EPS: €0.68 (vs €3.25 in 3Q 2021)

High number of new directors

Third quarter 2022 earnings released

Fortum in Final Stages of Negotiating Sale of Uniper Stake to Germany

Fortum Oyj Announces Resignation of Alexander Chuvaev as Head of its Russia Division

Fortum Still Determined to Exit Russia

Second quarter 2022 earnings released: €6.40 loss per share (vs €0.53 loss in 2Q 2021)

NOVATEK May Consider Buying Russian Assets of Finnish Fortum

Gazprom Ready to Mull over Buying Fortum's Russian Assets

Fortum Reportedly Plans to Sell All Russian Assets

Infracapital Partners III (Euro) SCSp a fund managed by Infracapital agreed to acquire the remaining 30% stake in Fortum Recharge AS from Fortum Oyj (HLSE:FORTUM) for €80 million.

Hafslund Eco AS, Infranode Ab and HitecVision AS (OTCNO:HITV) completed the acquisition of 50% stake in Fortum Oslo Varme AS from Fortum Oyj (HLSE:FORTUM).

Hafslund Eco AS, Infranode Ab and HitecVision AS (OTCNO:HITV) completed the acquisition of 50% stake in Fortum Oslo Varme AS from Fortum Oyj (HLSE:FORTUM).

First quarter 2022 earnings released: €2.50 loss per share (vs €1.23 profit in 1Q 2021)

Fortum to Record Pre-Tax Impairments of Approximately Eur 2.1 Billion Related to Its Russian Operations

High number of new directors

High number of new directors

Fortum Oyj Announces Board Committees 2022

Upcoming dividend of €1.14 per share

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Investor sentiment deteriorated over the past week

Third quarter 2021 earnings released: €0.82 loss per share (vs €0.23 profit in 3Q 2020)

High number of new and inexperienced directors

APG Asset Management NV, PGGM, Alecta Pensionsförsäkring, ömsesidigt, Keva and AXA IM Alts completed the acquisition of Stockholm Exergi Holding AB (publ) Fortum Oyj (HLSE:FORTUM).

Senior Vice President of Corporate Affairs & Communications Arto Raty has left the company

Actis LLP agreed to acquire 250-MW Pavagada II and the 250-MW Rajasthan Solar Power Plants Located in India from Fortum Oyj (HLSE:FORTUM).

First quarter 2021 earnings released: EPS €1.23 (vs €1.05 in 1Q 2020)

Senior Vice President of Strategy, People & Performance Risto Penttinen has left the company

Secretary to the Board & General Counsel has left the company

Fortum Oyj Approves Dividend for the Financial Year Ended on 31 December 2020, Payable on 7 May 2021

Independent Non-Executive Director has left the company

Independent Chairman Matti Lievonen has left the company

Upcoming dividend of €1.12 per share

Executive Vice President of Generation Tiina Tuomela has left the company

New 90-day high: €22.68

Fortum Oyj Proposes Dividend for the Year 2020

Revenue misses expectations

Full year 2020 earnings released

NCC and Fortum Enters A Framework Agreement Covering Maintenance Works on All of Fortum's Plants in Sweden

Brookfield, Two Others Reportedly Bid for Fortum's Assets