Raisio plc complies with the Finnish Corporate Governance Code (2015) approved by the Securities Market Association. At the end of 2018, Raisio plc had 36,448 registered shareholders. At the end of 2018, foreign ownership in the Company amounted to 23.4 per cent.
The Annual General Meeting (AGM) is the Company’s highest decision-making body. It meets annually by the end of April to decide on the matters within its responsibilities.
The Board consists of a minimum of five and a maximum of eight members elected by the AGM. Their term begins at the end of the AGM at which the election takes place and lasts until the end of the following AGM.
- The Board has established a Remuneration Committee to enhance the preparation of remuneration and nomination matters pertaining to the Board.
- The Board of Directors has appointed an Audit Committee in order to enhance the preparation of matters related to financial reporting and control under the Board’s responsibility.
The Supervisory Board consists of a minimum of 15 and a maximum of 25 members, whose term begins at the AGM at which the election takes place and ends at the end of the third AGM following the election. One-third of the members are replaced every year.
- The Supervisory Board has set up a Nomination Committee to prepare matters concerning the appointment and rewarding of members of the Board of Directors.
Raisio plc’s CEO runs the company’s day-to-day administration in accordance with the Board’s guidelines and regulations and in line with the targets set by the Board, as well as ensures that the company’s accounting complies with legislation and that its asset management arrangements are reliable.
The Group’s Executive Committee coordinates the Group’s operations and defines Group-level operating objectives, policies and processes. It prepares the Group strategy, supervises its implementation and assists the CEO in preparing decision proposals to the Board on matters concerning the entire Group.
Internal control, risk management, internal auditing and insider administration
- Raisio’s internal control is based on the Group’s values and policies.
- Risk management is defined as an activity aimed at identifying and assessing significant external and internal uncertainties that may threaten the strategy implementation and target achievement.
- Raisio has opted to include internal auditing tasks in the duties of the Group’s financial administration and business controllers, who report to the Group’s CFO on matters related to risk management, internal control and audit.
- Raisio’s insider administration is organised in accordance with the Nasdaq Helsinki Ltd’s (Helsinkin Stock Exchange) Insider Guidelines (2018).
- Raisio has a procedure and communication channel providing the Group employees an opportunity to represent their concerns or observations through an independent channel, anonymously if required.