Varma

7. Management salaries and remunerations
ParentParent
CompanyCompanyGroupGroup
1 Jan–31 Dec, € million2013201220132012
President and CEO and his deputy1.01.11.01.1
Members and deputy members of the Board of Directors0.40.30.40.3
Members and deputy members of the Supervisory Board0.10.10.10.1
Total1.61.51.61.5
Average number of personnel during the financial year565572565572
President and CEO Matti Vuoria was paid EUR 739,684 in salary and fringe benefits. The pension benefit under the voluntary supplementary pension insurance taken out for Vuoria is 60 per cent of the pensionable salary of the supplementary pension, which is based on the annual earnings of the two middle years of the last four years. The supplementary pension insurance has not accrued supplementary pension since 14 March 2011, when Vuoria turned 60.
Risto Murto, his deputy, was paid EUR 308,327 in salary and fringe benefits. The Board of Directors has appointed Murto as the President and CEO from 1 January 2014. Risto Murto's retirement age is 63 years and his pension will be 60 per cent of the calculated pensionable salary.