CEO and the other executives
The Chief Executive Officer (CEO) is appointed by the Board of Directors.
The CEO is in charge of the day-to-day management of the company in accordance with the instructions and orders given by the Board of Directors. The CEO is responsible for ensuring that the company’s accounts are in compliance with the law and that its financial affairs are organised in a reliable manner. The CEO is also in charge of the preparation of matters to be presented to the Board.
The CEO is assisted in the management of the company’s operative business by the Corporate Management Committee, of which he is the chairman.
Marcel Kokkeel (born 1958) acts as Citycon’s CEO since 24 March 2011.
The terms of the CEO's service are stipulated in a written executive agreement approved by the Board of Directors. The CEO’s service agreement is valid for an indefinite duration. The period of notice of the service agreement is six months, both for the CEO and the company. In case of notice by the company, the CEO will be paid, in addition to the salary payable for the notice period, a severance payment consisting of 1.5 times his annual base salary at the moment of termination. The CEO’s pension benefit and retirement age are in line with the Finnish pension legislation.
Corporate Management Committee
Citycon has a Corporate Management Committee comprising at least three members. The members of the Corporate Management Committee are appointed by the Board of Directors of the company on a proposal by the CEO.
The main duty of the Corporate Management Committee is to assist the CEO in the management of the company’s operative business as well as coordinate and develop the various operative functions of the company and promote information flow and co-operation between different parts of the organisation.
The Corporate Management Committee convenes usually twice per a month. In 2016 the Corporate Management Committee had 20 meetings.
In addition to the CEO, the Corporate Management Committee of the company consists of the company’s Executive Vice President and Chief Financial Officer, General Counsel, Chief Operating Officer and Vice President, Marketing and Branding.
Information about members of the Corporate Management Committee
Corporate Management Committee members' remuneration
Corporate Management Committee members' share ownership in the company