Tallink Grupp Supervisory Board members waive remuneration
Members of the Tallink Grupp Supervisory Board Enn Pant, Ain Hanschmidt, Kalev Järvelill, Toivo Ninnas, Eve Pant and Raino Paron have this week unanimously decided to waive their Supervisory Board remuneration, Tallink says in a press release. According to the initial decision, the remuneration has been waived by the Board members for the next three months.
Commenting on the decision, Mr Enn Pant, Chairman of the Supervisory Board said:
“In the current economic crisis resulting from the coronavirus outbreak, which the whole world is faced with and in which everyone is looking for solutions to ensure survival and sustainability of operations, waiving the remuneration is the least the Supervisory Board members can currently do and it is the most logical step.
“The Management Board and all 7200 employees of Tallink Grupp are currently working decisively, firmly and professionally to secure the future of our company and the Supervisory Board of the group recognises and values highly everything that has been done by the group’s employees to date.“
Colin Douglas Clark, the seventh member of the Supervisory Board of Tallink Grupp, does not receive remuneration for his work as a Supervisory Board member.
AS Tallink Grupp is one of the leading providers of passenger transport and cargo transport services in the northern part of the Baltic Sea region. The company owns 14 vessels and operates seven ferry routes under the brand names of Tallink and Silja Line. AS Tallink Grupp employs over 7,400 people in Estonia, Finland, Sweden, Latvia, Russia and Germany. In 2019, Tallink Grupp provided services to 9.8 million travellers and transported approximately 380,000 freight units of goods. The shares of Tallink Grupp are listed on the Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.