Annual Report 2015

4 Committees

4.1 Audit Committee

The Board of Directors elects a maximum of four of its members to the Audit Committee, the duties of which include:

  • preparation, control, review, and assessment of risk management policies, internal control systems and internal audit reports, organizing financial reporting and auditing,
  • examining Financial Statements with the auditors before submitting them for review by the Board of Directors,
  • submitting a proposal concerning the appointment of the auditor,
  • assessing the independence of the auditor and the additional services offered by the auditor,
  • steering and monitoring the activities of the Compliance Officer.

The Committee prepares matters entrusted to it for the Board of Directors’ decision.

In its meeting of March 27, 2015, the Board of Directors decided that the members of the Audit Committee are Päivi Pesola (Chairman), Jussi Kuutsa, Marja Pokela, and Suvi-Anne Siimes.

4.2 Remuneration and Nomination Committee

The Board of Directors elects a maximum of four of its members to the Remuneration and Nomination Committee, the duties of which include:

  • preparation of decisions concerning the appointments and remuneration of Executive Management,
  • preparation of the outlines for the remuneration, bonus, and incentive schemes and ensuring that they are fair and competitive.

The Committee prepares matters entrusted to it for the Board of Directors’ decision.

In its meeting of March 27, 2015, the Board of Directors decided that the members of the Remuneration and Nomination Committee are Arto Hiltunen (Chairman), Petri Järvinen, Petri Kokko, and Kirsi Nuotto.