The CEO is responsible for managing, supervising and controlling the business operations of the company and for the day-to-day executive management of the company in accordance with the instructions and orders given by the Board. In addition, the CEO ensures that the accounting practices of the Company comply with Finnish law and that its financial affairs have been arranged in a reliable manner.
The duties of the CEO are governed primarily by the Finnish Companies Act. The CEO shall provide the Board and its members with the information necessary for the performance of the duties of the Board.
The CEO prepares matters for decision by the Board, develops the company in line with the targets approved by the Board and ensures the proper implementation of the decisions of the Board. The CEO is also responsible for ensuring that the Company is managed in compliance with applicable laws and regulations. The CEO is not a member of the Board but attends the meetings of the Board and has the right to speak at the meetings.
The company’s Board appoints and dismisses the CEO. The Board decides on the financial benefits within the framework of the valid Remuneration Policy presented to the General Meeting and on other terms and conditions of the CEO’s position. The terms and conditions of the CEO’s position are specified in a written service contract.
The company’s Board appoints the members of the Management Team, which currently comprises the CEO, CFO, Senior Vice president Radiators, Senior Vice President ICS and Chief People Officer. The Management Team is not a decision-making body of the company but assists the CEO in the implementation of the Group strategy and in operational management. The Management Team is responsible for managing the company’s core business operations as a whole, which requires planning of various development processes, Group principles and Group practices, as well as monitoring the development of financial matters and the Group’s business plans.
The Management Team convenes regularly at a schedule agreed in advance and also as required and minutes are kept of all meetings. Board members are free to join the meetings of the Management Team in order to ensure a smooth cooperation between the Board and the Management Team.