Charter of the Board

The work of the Board of Directors is based on the provisions of the Finnish Limited Liability Companies Act and the Company’s Articles of Association as well as on the charter adopted by the Board.

According to the charter, the following key matters are among those to be resolved by the Board of Directors at HKScan:

  • appointments and dismissals of the CEO and senior executives, and decisions on the terms of employment of management
  • terms of employment of managing directors of Group companies and senior management
  • Group management’s and personnel’s incentive schemes and bonus criteria
  • Group and organisation structure, commencement of new business, changes and discontinuation of central business
  • Group strategy, business plan and performance targets for the following year, and related underlying assumptions
  • Group’s significant investments, as well as company, business and real estate arrangements, and sales and outsourcing of significant equipment and machinery
  • other significant contracts of the Group
  • dividend policy and division proposal to the Annual General Meeting
  • principles of risk management and communication related to Group’s business and follow up of the legality of business operations
  • approving of investment plans and approval of relevant investments deviating from the plan
  • taking out Group loans and giving securities
  • giving procurations and other representative rights of the Company.

The meetings of the Board of Directors follow the annually agreed management calendar. Extra meetings may be convened if required. The chairman of the Board convenes the Board meetings and prepares the meeting agenda together with the CEO.