Jorma Ollila’s combined salaries from Shell and Nokia reach EUR 1.2 million

Shell paid Ollila EUR 750,000, Nokia EUR 440,000

Jorma Ollila

print this

The global petrochemicals company Shell and the mobile phone giant Nokia paid Jorma Ollila jointly EUR 1.2 million in salaries and emoluments last year, the companies’ annual reports reveal.
      Ollila acts as the Chairman of the Board in both companies. An exchange-listed company’s board supervises and guides the company’s management on behalf of the shareholders.
     
Shell’s compensation to Ollila in 2009 was EUR 750,000. Furthermore, the oil giant is providing Ollila with a residence in The Hague, where the company’s headquarters are situated.
      According to the annual report, at the end of 2009 Ollila was in possession of 25,000 shares of stock in Shell. Their market value is in the region of EUR 550,000. Ollila has acted as the Shell Chairman of the Board since June 2006.
      When measured in net sales, Shell was the world’s second largest stock exchange listed oil company in 2009.
     
Nokia in turn paid Ollila EUR 440,000 in 2009.
      Around 60 per cent of the salary was paid in cash and the rest in Nokia shares.
      The market value of all the Nokia shares that Ollila now owns is about EUR 8.3 million.
      According to the annual reports, the 59-year-old Ollila - who headed Nokia as CEO from 1992 and CEO and Chairman from 1999 to 2006 - was present at every single Nokia and Shell board meeting last year.


Previously in HS International Edition:
  Ollila promotes Nordic model of capitalism (24.3.2009)
  “Wow!” said Ollila (10.3.2009)
  New mission for Jorma Ollila: fighting climate change (30.1.2007)

Links:
  Jorma Ollila (Wikipedia)

Helsingin Sanomat