Board of Directors
Pursuant to the Finnish Companies Act, the Board of Directors is responsible for the administration and proper organisation of the operations of the company and the appropriate arrangement of the control of the company's accounts and financials. The Board of Directors shall further comply with the Articles of Association of the company and its Charter.
In addition, the Board of Directors shall determine the company's dividend policy and present a proposal to the Annual General Meeting for the payment of the dividend. The Board of Directors is responsible for, among others:
• evaluating and approving the company's strategic direction
• approving strategic plans of the company and its business areas and evaluating their implementation annually
• establishing limits for capital expenditures, investments and divestitures and financial commitments not to be exceeded without Board approval
• overseeing the strategic and operational risks
• ensuring that the company has defined the operating principles of internal control and monitors the function of such control
• appointing the President and CEO and members of the Group Executive Team
The Board of Directors has approved the company's Code of Conduct, Risk Management Policy, Insider Policy and Disclosure Policy.
The Board and each of its committees conduct an annual evaluation of its performance and working methods as well as the independence of its members.