Spinnova starts off 3-year program to sustain CEO engagement

YarnsandFibers News Bureau 2023-01-03 12:37:38 – Finland

Finnish fiber producer Spinnova Plc, has started a program to maintain the CEO's long-term dedication to the business. According to a news release from Spinnova, this is accomplished by giving the CEO shares in exchange for his management services and maybe private shareholding.

According to Spinnova, the program's objective is to "align CEO and shareholder priorities with boosting the long-term value of the company." Additionally, Spinnova hopes that by doing this, the CEO will become more directly associated with the business, both as a shareholder and a director.

The program currently only lasts for the fiscal years 2023 through 2026. The CEO is eligible to receive Spinnova shares throughout that time as compensation for his work with the company and for private ownership. The CEO may receive two identical shares for free for every share they purchase under the program.

Kim Poulsen is the CEO of Spinnova Plc at the moment. On August 1, 2022, he succeeded Janne Poranen, who had served as CEO since 2014.

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