The task of the Personnel Committee is to prepare proposals to the Board of Directors regarding the remuneration and appointment of the CEO and rest of the Group Management Team as well as the company’s remuneration principles. The Personnel Committee also prepares the Remuneration Policy and Remuneration Report for the company’s governing bodies.
The Personnel Committee is comprised of a Chairman and three members appointed annually by the Board of Directors from among its members. The members shall have appropriate experience pertaining to the terms of employment and compensation systems of senior management. The majority of the members of the Personnel Committee shall be independent of the company. The CEO or management team members shall not be appointed to the Personnel Committee. The Personnel Committee meets when necessary. The Committee’s charter is attached (Appendix 4).
FY 5-12/2019 The Personnel Committee convened 5 times during the financial year 1 May–31 December 2019. The members’ attendance in the committee meetings is shown in the table listing the members of the Board of Directors.
In its meetings, the Audit Committee dealt with the management’s long-term and short-term remuneration and the individuals included in the management remuneration system.