The main objectives of remuneration at Marimekko is to promote competitiveness and long-term financial success of the company, contribute to the favorable development of shareholder value and increase the commitment of the company’s key persons.
Remuneration of the members of the Board of Directors
The Annual General Meeting decides on the remuneration payable to the Board of Directors. The Audit and Remuneration Committee of the company handles and prepares matters related to the remuneration payable to the Board of Directors. The majority of members of the Audit and Remuneration Committee are independent of the company and its significant shareholders. A person serving the company under an employment or service agreement receives no fee for the membership of the Board of a Marimekko subsidiary.
The AGM of 15 April 2025 resolved that the annual remuneration payable to the members of the Board is as follows: EUR 55,000 to the Chair, EUR 40,000 to the Vice Chair and EUR 30,000 to the other Board members. Board members who reside outside Finland receive EUR 1,000 per Board meeting where they are physically present. It was further resolved that a separate remuneration be paid for committee work to persons elected to a committee as follows: EUR 2,000 per meeting to the Chair and EUR 1,000 per meeting to members.
The AGM also decided that approximately 40 percent of the annual remuneration of the members of the Board of Directors will be paid in Marimekko Corporation’s shares acquired from the market and the rest in cash. The shares were acquired directly on behalf of the Board members in May 2025. There are no specific rules or limitation for owning shares received as Board remuneration. The annual remuneration was paid entirely in cash, if a Board member on the date of the AGM, 15 April 2025, held the company’s shares worth more than EUR 1,000,000.
In addition to the annual remuneration of the Chair of the Board decided on by the AGM, Mika Ihamuotila will be paid a monthly fee of EUR 5,000 for half-time duty as the Chair pursuant to a separate executive service agreement. The Audit and Remuneration Committee separately evaluates the terms of the service agreement, but Mika Ihamuotila will not take part in the evaluation. Mika Ihamuotila will not receive a separate remuneration for the committee work. No other fees, such as remuneration for committee work, annual bonuses or benefits, in addition to the above-mentioned, are paid to Mika Ihamuotila. His pension is determined by the statutory employee pension plan (TyEL).
Fees paid to the Board Members in the financial year 2025
| Board member | Role/Committee membership | Annual remuneration, EUR | Number of shares received as part of annual remuneration | Board meetings, EUR | Committee fees, EUR | Other fees, EUR | Total, EUR |
| Carol Chen | Member | 30,000 | 909 | 1,000 | – | – | 31,000 |
| Massimiliano Brunazzo | Member | 30,000 | 909 | 1,000 | 31,000 | ||
| Mika Ihamuotila | Chair of the Board | 55,000 | – | – | – | 60,240* | 115,240 |
| Teemu Kangas-Kärki | Vice Chair of the Board and member of the Audit and Remuneration Committee | 40,000 | 1,212 | – | 10,000 | – | 50,000 |
| Tomoki Takebayashi | Member | 30,000 | 909 | 1,000 | – | – | 31,000 |
| Marianne Vikkula | Member of the Audit and Remuneration Committee | 30,000 | 909 | – | 5,000 | – | 35,000 |
Remuneration of the President and CEO
The Board of Directors of Marimekko Corporation decides on the salary and remuneration payable to the President and CEO. The Audit and Remuneration Committee of the company handles and prepares matters related to the terms of the service contract and remuneration of the President and CEO. The majority of the members of the Audit and Remuneration Committee are independent of the company and its significant shareholders.
The remuneration of the President and CEO consists of a regular salary and fringe benefits, a short-term incentive (annual bonus) as well as a long-term incentive system targeted at the company’s Management Group, including the President and CEO. In accordance with the Remuneration Policy, the President and CEO’s maximum incentive under the short-term incentive system can be 50 percent of the President and CEO’s annual salary.
The short-term performance criteria for the President and CEO in 2025 were based 60 percent on the development of the company’s comparable operating profit, 20 percent on the development of the company’s net sales and 20 percent on personal targets. Personal targets included, for example, supporting international growth as well as promoting the company’s broader digitalization and sustainability strategy. In the financial year 2025, the targets set by the Board were achieved at a rate of 36 percent, and the President and CEO’s short-term incentive due during 2025 amounted to EUR 79,574.00. By decision of the Board of Directors, the President and CEO will be paid for the financial year 2025 a remuneration of EUR 120,426.00 in addition to the incentive under the short-term incentive system, in recognition of her key contribution to the achievement of the company’s strategic objectives and the promotion of long-term value creation. The incentives will be paid in spring 2026.
Remuneration paid to the President and CEO in the financial year 2025
| EUR | Fixed annual salary + fringe benefits | Short-term bonus** | Long-term incentive | Other fees | Total |
| Tiina Alahuhta-Kasko | 464,745 | 98,621 | 4,934 | 568, 300** |
** The amount paid in 2025 includes the short-term incentive earned in 2024.
In addition, the President and CEO was entitled in 2025 to a short term incentive plan on the basis of which an incentive of EUR 79,574 thousand will be paid in 2026. Similarly, the President and CEO will also be paid a remuneration of EUR 120,426.00 in recognition of her key contribution to the achievement of the company’s strategic objectives and the promotion of long-term value creation.
The President and CEO’s remuneration is covered by the Finnish statutory pension scheme. If the President and CEO resigns of her own accord, the term of notice is six months. If the company terminates the contract, the term of notice is six months, but the President and CEO is entitled to a severance payment corresponding to her fixed salary of six months, in addition to her fixed salary during the term of notice. The remuneration in case of termination is tied to a fixed-term non-compete obligation of six months.
Remuneration of other management
The Board of Directors of Marimekko Corporation decides on the salary and remuneration payable to the members of the Management Group. The Audit and Remuneration Committee of the company handles and prepares matters related to the terms of the service contracts and remuneration of senior management. The majority of the members of the Audit and Remuneration Committee are independent of the company and its significant shareholders.
The remuneration of the Management Group members consists of a fixed salary and fringe benefits, a short-term incentive as well as a long-term incentive system. The annual short-term incentive is based on the growth of the company’s consolidated net sales, operating result and individual objectives separately determined by the Board of Directors, which in 2025 included also sustainability related targets for all members of the Management Group. The members of the Management Group fall within the scope of the statutory employee pension plan (TyEL).
In 2025, the remuneration of other members of the Management Group (excluding the President and CEO) totaled EUR 2.5 million (2024: 2.4). The earned rewards for the first earnings period of the share-based long-term incentive system, which ended on 30 June 2025, were paid fully in cash.
Long-term incentive systems
The Performance Share Plan 2022–2026
The objective of the plan is to continue aligning the interests of the management with the interests of the shareholders and to encourage the management to work on a long-term basis with the aim to increase the shareholder value. The Performance share plan 2022–2026 is composed of two earnings periods: 1 January 2022–30 June 2025 and 1 January 2023–30 June 2026. The potential reward from each earnings period is based on total shareholder return (TSR) i.e. the total yield on Marimekko Corporation’s shares, including dividends, at the end of the period. The achievement of the required TSR levels will determine the proportion out of the maximum reward that will be paid to a participant. The potential rewards are primarily planned to be paid half in company shares and half in cash after each earnings period. The cash part of the reward is intended to cover the taxes and tax-like payments incurred by the participant. Earning the reward requires that the person is still working for the company at the time of the payment. The reward amounts earned through the plan will be capped if the maximum limit set by the Board for the payable reward is reached. The shares received as part of the reward are subject to a two-year transfer restriction.
For the first earnings period, which ended on 30 June 2025, the Board of Directors decided, in accordance with the terms of the plan, to pay the earned rewards fully in cash. Rewards were paid to all ten people comprised in the first earnings period, including the President and CEO.
The Board has also decided that if the targets set for the second earnings period of 1 January 2023–30 June 2026 are met in full, the rewards to be paid on the basis of the period correspond to the value of an approximate maximum total of 290,148 Marimekko shares including also the cash portion of the reward. The potential rewards from the second earnings period are estimated to be paid at the latest by the end of September 2026.
The Performance Share Plan 2026–2030
The purpose of the Performance Share Plan 2026–2030 is to align the interests of the company’s shareholders and the Management Group to increase the company’s value in the long-term, to commit the Management Group to implement the company’s strategy, objectives and long-term interest and to offer them a competitive incentive plan based on earning and accumulating the company’s shares.
The Performance Share Plan 2026–2030 consists of four performance periods, covering the financial years 2026–2027, 2026–2028, 2027–2029 and 2028–2030 respectively. The Board of Directors will resolve annually on the commencement and details of a performance period.
In the plan, the target group has an opportunity to earn Marimekko shares based on performance. The potential rewards from the plan will be paid in spring after the end of each performance period. The potential reward will be primarily paid partly in Marimekko shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the Management Group. The reward amounts earned through the plan will be capped if the maximum limit set by the Board of Directors for the payable reward is reached. Earning the reward requires that the Management Group member is still working for the company at the time of the payment.
The proportion to be paid in shares is subject to a two-year holding period, during which the member of the Management Group may not sell, transfer, pledge or otherwise dispose of the reward shares.
The performance criteria of the performance periods 2026–2027 and 2026–2028 are tied to the absolute total shareholder return and comparable operating profit margin. If the targets set for the performance period 2026–2027 are met in full, the value of the rewards to be paid on the basis of the period corresponds to a maximum total of 50,000 shares of Marimekko, including also the proportion to be paid in cash. Correspondingly, if the targets set for the performance period 2026–2028 are met in full, the value of the rewards to be paid on the basis of it equals to a maximum total of 103,000 shares of Marimekko, including also the proportion to be paid in cash. The target group at the beginning of the performance periods 2026–2027 and 2026–2028 consists of the Management Group of Marimekko, in total 11 people, including the President and CEO.