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Finnish minister could propose changes to Finnair board

Finnish economy minister Mika Lintila could propose changes to the board of state-controlled Finnair because of the CEO’s compensation package, he said in a video interview. The airline’s board last year approved a supplementary pension arrangement for CEO Pekka Vauramo, counter to the state’s recommendations for companies in which it holds significant stakes. “I will bring my own proposal for the annual general meeting regarding the composition of the board,” Lintila said. The government usually refrains from direct intervention in state-owned companies and the Finnair board is normally proposed by a four-member nomination panel on which the state has one representative. The state owns 55.8% of Finnair. Vauramo was granted an annual supplementary pension of 20% of his fixed compensation, which equates to about E130,000.<br/>