Responsibility of the Board
The Board of Directors consists of five member, elected at the Annual Annual General Meeting held on 3 May 2017. The company's Managing Director and CEO and the company's CFO are co-opted members at all Board meetings.
The Board held six ordinary meetings, one strategy and one stututory meeting during the business year 2016. The company's auditors participated at two Board meetings.
The Board of Directors is responsible for the company's organisation and administration, and makes regular assessments of the parent company's and the Group's financial situation. The Board has adopted written rules of procedure regulating the number of Board meetings to be held, matters to be submitted to the Board and financial reports and has issued instructions for the Managing Director. During the year the Board evaluated the work of the Managing Director and the Board itself. The Board as a whole functioned as the Remuneration Committee during the year.
Other responsibilities included adopting the budget, and monitoring the company's operations and earnings trend on an ongoing basis. In addition to this, overall strategic matters pertaining to such issues as the company's focus, market development and growth opportunities were analysed.