Both the President and CEO’s and the Deputy CEO’s remuneration are decided by the Board of Directors based on the proposal by the HR Committee.
Remuneration of Konecranes’ President and CEO and Deputy CEO includes a fixed salary with fringe benefits, performance-based annual variable pay and a long-term, performance-based share plan.
In addition to the Finnish statutory pension, the President and CEO and the Deputy CEO have a supplementary contribution pension benefit provided by the Company. The pension scheme for the President and CEO sets the defined contribution at 20 percent of the annual base salary, including fringe benefits and excluding performance-based compensation (annual or long-term incentives). The contribution level for the Deputy CEO is set at 1 percent of the annual base salary. The retirement age in this supplementary pension plan is 65 years for the President and CEO and 60 years for the Deputy CEO.
Remuneration elements and terms of employment of the President and CEO and Deputy CEO
Remuneration elements and terms of employment of the President and CEO and Deputy CEO
Remuneration paid to the President and CEO and the Deputy CEO in 2025
In 2025, the fixed salary including salaries and fringe benefits paid to the previous President and CEO Anders Svensson (1.1.-31.5.2025) amounted to EUR 351,571, those paid to Marko Tulokas (1.6.-31.12.2025) in his current role as President and CEO amounted to EUR 432,965 and those paid to the Deputy CEO Teo Ottola to EUR 373,810.
The short-term incentive payments for 2024 were paid in 2025 and amounted to EUR 748,992 for the previous President and CEO Anders Svensson and EUR 300,344 for the Deputy CEO Teo Ottola. The short-term incentive plan 2024 for the previous President and CEO as well as for the Deputy CEO was based on the achievement of the following measures: 65 percent weight on Group comparable EBITA margin, 25 percent weight on Group sales growth %, and 10 percent weight on ESG targets. The actual outcome was 91.6 percent out of the maximum 100 percent. Marko Tulokas only received short-term incentive payments for his role as Business Area President, Industrial Equipment in 2025, before starting in his position as the President and CEO.
The short-term incentive plan for 2025 for the President and CEO and Deputy CEO was based on the achievement of the following measures: 60 percent weight on Group comparable EBITA margin, 30 percent weight on Group sales growth %, and 10 percent weight on ESG targets. The short-term incentive payments for 2025 due to be paid in 2026 amount to EUR 275.993* for the President and CEO and EUR 218,512 for the Deputy CEO. The outcome was 65,4* percent for the President and CEO and for the Deputy CEO out of the maximum 100 percent.
Rewards based on the long-term Performance Share Plan (PSP) 2022 were paid in 2025. The plan had a three-year-long performance period with three separate one-year-long measurement periods. There were separate targets for each measurement period, and the criterion for all measurement periods (2022, 2023 and 2024) was comparable EPS. Items affecting comparability of the EPS included defined restructuring costs, mergers and acquisitions related transaction costs and other unusual items. The outcome for the PSP 2022 was 70.4 percent. The Deputy CEO participated in the PSP 2022 and was delivered 15,484 gross shares. Out of the total gross shares, 50 percent was paid in shares and 50 percent in cash.
The Performance Share Plan 2023 consists of a three-year-long performance period of 2023–2025 decided by the Board of Directors. The criteria for the performance period are sales growth (CAGR) and comparable cumulative EPS.
The three-year-long performance period for the PSP 2023 ended in December 2025, and the total outcome was 100 percent. The PSP 2023 rewards are due to be paid in 2026, and the President and CEO will be delivered 10.000 gross shares and the Deputy CEO will be delivered 22.000 gross shares. Out of the total gross shares, 50 percent will be paid in shares and 50 percent in cash.
The previous President and CEO participated in the PSP 2023 but did not receive any delivery as he decided to leave the company.
In 2025, the total remuneration paid to the previous President and CEO amounted to EUR 1,738,546, for the current President and CEO to EUR 432,965*, and for the Deputy CEO to EUR 1,700,632.
* The data reflects Marko Tulokas' remuneration only after he started as President and CEO on June 1, 2025.
Summary of the remuneration of the President and CEO and Deputy CEO in 2025
