Norsk Hydro: Resolution from the Corporate Assembly 25 May 2021 regarding remuneration to the Board of Directors and its preparatory bodies for 2021
Norsk Hydro ASA's Corporate Assembly met on May 25, 2021, to approve the remuneration for the Board of Directors for the fiscal year 2021.
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Rhea-AI Summary
Norsk Hydro ASA's Corporate Assembly met on May 25, 2021, to approve the remuneration for the Board of Directors for the fiscal year 2021. The proposed remuneration reflects an approximate 3% increase. Key figures include the Chair's compensation rising from 686,000 to 707,000 NOK and Deputy Chair's from 413,000 to 426,000 NOK. Travel compensation for board members living outside Norway will now be 30,000 NOK per meeting attended. This adjustment aligns with the company's commitment to governance and stakeholder engagement.
Positive
- Board of Directors' remuneration increased by approximately 3%.
- Travel compensation for international board members raised to 30,000 NOK.
Negative
- None.
Details
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The Corporate Assembly of Norsk Hydro ASA has in its meeting on 25 May 2021 adopted the following resolution related to remuneration to the Board of Directors and its preparatory bodies for the financial year 2021:
In accordance with the Nomination Committee’s proposal, c.f. the Articles of Association section 5A, the Corporate Assembly of Norsk Hydro ASA resolved that the Board of Directors and its preparatory bodies for the financial year 2021 (1 January 2021 – 31 December 2021) shall receive the following remuneration (all amounts in Norwegian kroner):
| From | To | |
| Board of Directors | ||
| Chair | 686 000 | 707 000 |
| Deputy Chair | 413 000 | 426 000 |
| Board Director | 362 000 | 373 000 |
| Travel compensation | 23 000 | 30 000 |
| Audit Committee | ||
| Chair | 209 000 | 215 000 |
| Member | 136 000 | 140 000 |
| Compensation Committee | ||
| Chair | 120 500 | 124 000 |
| Member | 90 500 | 93 000 |
The increase corresponds to an increase of approximately 3 percent.
Travel compensation is increased to 30 000 per physical meeting for Board Directors residing outside of Norway, when the Board Director concerned must cross a national board to attend the meeting. Travel expenses will as previously be covered by the company as per account rendered.
Information on the Corporate Assembly of Norsk Hydro ASA is available here: https://www.hydro.com/en-NO/about-hydro/corporate-governance/governance-bodies/
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Investor contact:
Line Haugetraa
+4741406376
line.haugetraa@hydro.com
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