Governance
Pursuant to the provisions of the Finnish Companies Act, the control and management of the company are divided between the general meeting of the shareholders and the Board of Directors. The ultimate decision-making authority lies with the shareholders at the Annual General Meeting, which appoints the members of the Board of Directors and the company’s auditor. The Board of Directors is responsible for the company’s administration and the proper organisation of the operations of the company. The duties and accountability of the Board of Directors are determined primarily under the Company’s Articles of Association and the Finnish Companies Act. The company’s Chief Executive Officer is appointed by the Board of Directors. In addition, the management team assists the CEO in the operations of the company.
In addition to the applicable legislation governing public limited companies, the company complies with the Finnish Companies Act and the Finnish Corporate Governance Code of the Finnish Securities Market Association and does not intend to deviate from its recommendations. The Company will, however, deviate from recommendation 8 (Composition of the Board of Directors) of the Corporate Governance Code 2026, which enters into force on 30 June 2026, concerning the equal representation of women and men. The new recommendation 8 requires, among other things, that women and men are equally represented on the Board of Directors. During its listing preparations, the company has actively explored ways to develop the composition of the Board of Directors in this regards and is committed to continuing recruitment measures in order to bring the composition of the Board of Directors into compliance with the recommendation. The Finnish Corporate Governance Code is available at www.cgfinland.fi/en.