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.
Xefco has successfully secured US$6.9m in funding to advance the commercialization of its groundbreaking water-free textile dyeing and finishing solution.
Researchers are exploring mushroom roots, mycelium, as a sustainable alternative to synthetic fibers in various products, including clothing and car…
Coachtopia has partnered with upcycle designers worldwide to give a fresh look to its popular Ergo bag, highlighting sustainability through…
France announced that the G7 will focus on tackling the environmental and climate effects of the fashion and textiles sector…
Hologenix and DAGi are teaming up to introduce a new line of eco-friendly sleepwear featuring CELLIANT® Viscose fabric that helps…
Stratasys has unveiled a direct-to-garment printing solution to revolutionize consumer clothing, enabling colorful, 3D-printed designs onto existing garments.