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Thursday's papers: Posti bonuses, increased attacks on police, a humble hub

Finland's press reports on incentive payments at Posti, the use of weapons against police in Lapland and a startup success story.

Posti Groupin toimitusjohtaja Heikki Malinen pakettiautomaatin vieressä Posti Groupin pääkonttorissa Helsingissä.
Posti CEO Heikki Malinen. Image: Jani Saikko / Yle

Tabloid Iltalehti carries a series of articles this morning on the latest revelations at national mail carrier Posti, and in particular regarding its embattled CEO Heikki Malinen.

According to the first of IS's reports, Malinen and other Posti executives received huge performance-related bonuses in spring this year, around the same time the company began co-determination talks with unions which ultimately led to the axing of 94 jobs in June.

IS quotes a remuneration statement released by Posti at the time, detailing the extent of the payment to the top brass.

"Based on the achievement of the set targets, bonuses paid to the CEO and the executive team ranged from 9.15 percent to 43.76 percent of the total salary," Posti's statement reads.

IS calculates that Malinen's bonus was 32.85 percent of his annual salary, which – as Malinen's total salary was 610,924 euros last year –amounts to a total bonus payment in April of 200,689 euros.

The tabloid further reports that Malinen and the executive team are in line to receive 'Christmas bonuses' in December this year, based on the "long-running" LTI9 and 2X incentive schemes, which are calculated according to the group's adjusted operating profit (80 percent) as well as on the group's combined customer satisfaction (20 percent).

IS also looks back to the spring of 2015 – when Posti was again in talks with unions, this time about the cutting of nearly 400 jobs – and reports that at the time the mail carrier acquired an expensive stake in Sarfvik golf course in Kirkkonummi on the initiative of its CEO, which ultimately incurred a loss of 30,000 euros.

Lapland police face increasing threats

Lapland daily Lapin Kansa reports on the increased frequency with which police in the north of Finland are encountering people armed with weapons – including deer rifles, bread knives, swords and even the Japanese throwing star shuriken.

The Lapland Police Department's occupational safety commissioner Tero Väyrynen tells the newspaper that police patrols are exposed to violent situations on a weekly basis.

"Nowadays it seems to be a popular phenomenon to throw different objects at the police," Väyrynen says.

According to the paper, police in Lapland have faced the same number of such violent incidents so far this year as they did in the whole of last year.

Nevertheless, despite the increased threats, the department still attempts to resolve these situations by non-violent means whenever possible, according to health and safety representative Petteri Paldanius.

"We prefer to talk for an hour if it gets the job done, rather than ten minutes of wrestling," Paldanius says.

"Not a hospital"

Highest circulating daily Helsingin Sanomat reports on a startup hub in downtown Helsinki which will soon be bigger in size than the 64,000 square metre Redi shopping centre, but about which people seem to know very little – if anything.

The hub, called Maria 01, is located in Helsinki's Kamppi district at the site of the old Maria Hospital, which closed in 2014. City officials then decided to run a pilot scheme, designating 3,000 square metres of the building to be used by Helsinki's startup community, HS writes.

According to Maria 01's former CEO Voitto Kangas, the pilot has proved to be a huge success and the hub has since grown to employ more than 1,100 people in about 120 companies, occupying space of approximately 15,000 square meters.

The buildings are currently undergoing further renovation, according to HS, and the available area is expected to expand to 70,000 square metres by 2023.

However, despite the past success and future expansion plans, Maria 01 remains relatively unknown, a fact illustrated by the "not a hospital" sign that greets visitors on their arrival at the hub’s front door, according to HS.

Edit: Updated on 5.9 at 10.47 to reflect that Voitto Kangas is no longer the CEO of Maria 01. Ville Simola has now taken over the role of CEO effective 5 September.

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