Billerud Management

Management criteria checks 2/4

Billerud's CEO is Ivar Vatne, appointed in Jul 2023, has a tenure of less than a year. total yearly compensation is SEK4.64M, comprised of 67.9% salary and 32.1% bonuses, including company stock and options. directly owns 0.005% of the company’s shares, worth MX$2.07M. The average tenure of the management team and the board of directors is 0.7 years and 3.6 years respectively.

Key information

Ivar Vatne

Chief executive officer

SEK 4.6m

Total compensation

CEO salary percentage	67.9%
CEO tenure	less than a year
CEO ownership	0.005%
Management average tenure	less than a year
Board average tenure	3.6yrs

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
Dec 31 2023	SEK 5m	SEK 3m	SEK 484m

Compensation vs Market: Ivar's total compensation ($USD425.24K) is below average for companies of similar size in the MX market ($USD779.49K).

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

CEO

Ivar Vatne (45 yo)

less than a year

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	less than a year	SEK 4.64m	0.0054% MX$ 2.1m
Andrei Kres	Chief Financial Officer	less than a year	no data	no data
Lena Schattauer	Head of Investor Relations & Director Investor Relations	no data	no data	no data
Andreas Mattsson	Executive Vice President of Legal & Compliance	no data	no data	0.0027% MX$ 1.0m
Paulina Ekvall	Executive Vice President of Human Resources & Communications	7.3yrs	no data	0.0046% MX$ 1.8m
Louise Bjarke	Head of Press	no data	no data	no data
Matthew Hirst	President of Europe	less than a year	no data	0.0014% MX$ 532.9k
Kevin Kuznicki	President of the North America	2.3yrs	no data	0.0014% MX$ 521.3k
Ulrika Wedberg	Executive Vice President of Sustainability & Public Affairs	less than a year	no data	no data
Robert Pletzin	Head of Media Relations	no data	no data	no data

0.7yrs

Average Tenure

46yo

Average Age

Experienced Management: BILL N's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Magnus Nicolin	Independent Director	1.9yrs	SEK 580.00k	0.0048% MX$ 1.9m
Jan Astrom	Independent Director	5.9yrs	SEK 780.00k	0.0049% MX$ 1.9m
Jan Svensson	Independent Chairman of the Board	3.9yrs	SEK 1.75m	0.012% MX$ 4.5m
Florian Heiserer	Director	1.9yrs	SEK 680.00k	0.00080% MX$ 308.9k
Victoria Van Camp	Independent Director	6.9yrs	SEK 605.00k	0.0016% MX$ 614.0k
Regi Aalstad	Independent Director	less than a year	SEK 680.00k	no data
Nicklas Johansson	Employee Representative Director	7.3yrs	no data	no data
Bo Knoos	Deputy Director	7.3yrs	no data	no data
Per Bertilsson	Employee Representative Director	3.3yrs	no data	no data
Magnus Axelsson	Deputy Director	2.3yrs	no data	0.000050% MX$ 19.3k

3.6yrs

Average Tenure

59yo

Average Age

Experienced Board: BILL N's board of directors are considered experienced (3.6 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

Billerud Announces Executive Changes

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

Less than half of directors are independent

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

Recent 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

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

Billerud Announces Executive Changes

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

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

New minor risk - Earnings quality

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

Billerud AB Proposes Dividend for 2023

Less than half of directors are independent

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

Billerud AB (publ) Appoints Andrei Krés as CFO

Less than half of directors are independent

Billerud AB (Publ) Appoints Ivar Vatne as President

Less than half of directors are independent

Billerud Aktiebolag Announces Nomination Committee for cAnnual General Meeting 2024

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

Billerud AB (Publ) Announces Management Changes

Billerud AB Announces Retirement of Christoph Michalski as CEO

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

Less than half of directors are independent

High number of new directors

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

High number of new directors

High number of new directors

Less than half of directors are independent

Less than half of directors are independent

Independent Director recently bought Mex$139k worth of stock

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

Less than half of directors are independent

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

Less than half of directors are independent

Less than half of directors are independent

Third quarter 2022 earnings released: EPS: kr5.42 (vs kr2.31 in 3Q 2021)

Billerud Aktiebolag Appoints Ivar Vatne as Deputy CEO

Less than half of directors are independent

Less than half of directors are independent

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: EPS: kr6.83 (vs kr1.50 in 2Q 2021)

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

Independent Director recently bought Mex$2.7m worth of stock

President & CEO recently bought Mex$2.0m 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

Billerudkorsnäs Proposes Dividend, Payable 17 May 2022

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

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

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)

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

BillerudKorsnäs Launches Strong, Super-Light Cartonboard

Billerudkorsnäs AB (publ) Approves Dividend, Payable on May 12, 2021

First quarter 2021 earnings released: EPS kr1.82 (vs kr0.79 in 1Q 2020)

Full year 2020 earnings released: EPS kr3.27 (vs kr4.89 in FY 2019)

Helene Biström, EVP Commercial of BillerudKorsnäs Leaves the Company During 2021

Billerudkorsnäs and Tetra Pak Aim to Push the Figure of Renewable Material from Wood Fibre in Carton Packages Towards 100%

Revenue misses expectations

Full year 2020 earnings released: EPS kr3.19 (vs kr4.89 in FY 2019)

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure