Board of Directors

In accordance with the company's Articles of Association, at the Annual General Meeting the shareholders appoint three to eight members to the Board of Directors. Their term of office ends with the closing of the next Annual General Meeting following their appointment. The Board has a quorum when more than half of its members are present. The company's Articles of Association do not restrict the members' terms in office or present any specific selection criteria for the members. The Board elects a chairperson from among its members.


The Board of Directors handles the company’s administration and the appropriate arrangement of its operations. The Board also ensures that the supervision of the bookkeeping and asset management is appropriate. The Board of Directors decides on matters of principle and on any issues that would have broad-ranging implications for the company. The Board’s task is to steer the company’s operations in a manner that will add the greatest possible value to the company’s invested capital over the long term.

The Board appoints and dismisses CEO, supervises his or her actions, and decides on his or her remuneration and other terms and conditions of service. The Board also approves the Group’s strategy, operating principles and guiding values, and ensures that they are up to-date and correctly implemented. The Board also ensures that the Group has a functional system of internal controls and that the Group’s risk management principles have been defined. It also ensures that key business risks have been identified and are being systematically monitored. The Board approves the operational guidelines and annual plan for the internal audit, and also assesses its effectiveness.

The Board evaluates its operations and processes to increase efficiency and quality. An internal self-evaluation is conducted once a year.

Board Composition

The current Board of Directors was elected at the Company's last Annual General Meeting in April 2016. The members are Tatu Ylönen, Timo Syrjälä, Jukka Manner, Kaisa Olkkonen and Harri Koponen. Kaisa Olkkonen was elected as the Chairman of the Board of Directors.

Members of the Board of Directors

Currently, a majority of the Board members are considered independent of the company. Timo Syrjälä, Jukka Manner, and Kaisa Olkkonen are deemed to be independent Board members. Not independent of the company are the Board members Tatu Ylönen and Harri Koponen. The company's CFO acts as secretary to the Board.

More information about the members of the Board of Directors

CEO

The SSH Communications Security Board of Directors appoints the CEO and decides the terms of his or her service contract. The CEO is in charge of the company's operative management in accordance with the Finnish Companies Act and the instructions and authority provided by the Board of Directors. The company's CEO is Tatu Ylönen. The CEO's retirement age and determination of pension comply with standard rules under the Employees' Pension Act. The period of notice for the CEO is three months. There is no separate severance payment agreed.

Management Team

The Executive Management Team supports the CEO in managing and developing SSH Group. The members in the Executive Management Team are the CEO and representatives chosen from the management of the company.

The members of the Executive Management Team are:

  • Tatu Ylönen, Chief Executive Officer
  • Jussi Mononen, Chief Operating Officer
  • Helena Kukkonen, Chief Financial Officer
  • Markku Rossi, Chief Technology Officer
  • Matthew McKenna, Chief Strategy Officer and Vice President of Key Accounts
  • Kalle Jääskeläinen, Vice President, Enterprise Key Management
  • Chris Riley, Vice President Sales, North America

More information about the members of the Executive Management Team and Extended Management Team

Salaries and Remuneration

At the Annual General Meeting the shareholders' meeting shareholders approve any compensation to the members of the Board of Directors. The Board of Directors confirms the salary and other benefits of the CEO, and also determines the salaries and benefits payable to senior management. Forms of remuneration for SSH Communications Security's senior management and CEO involve a performance-related bonus. The company has no differing pension arrangements for the CEO or other senior management.The bonus scheme for SSH Communications Security's senior management is based on the company's financial performance and personal qualitative and quantitative targets. The targets for the company's senior management are fixed from six months to one year at a time.

For long term incentives, company has established Option plans.

Salaries and Fees Paid to Members of the Board of Directors

EUR 2015 2014
Timo Syrjälä 22 500 16 533
Tatu Ylönen 13 500 0
Päivi Hautamäki 18 000 19 500
Jukka Manner 13 500 0
Total 67 500 36 033

Remuneration and fees - CEO

EUR 2015 2014
Salary and other short term employee benefits 276 032 64 658
Share-based payments 0 0

Compensation of the key management personnel of the group

EUR 2015 2014
Wages and other short term employee benefits 506 478 874 000
Share-based payments 0 0

Holdings

The number of shares and share-based rights of the members of the Board of Directors, CEO and members of the Group Management Team and corporations over which they exercise control in the company and in companies belonging to the same group as the company are available here.