Corporate Governance

Musti Group’s corporate governance complies with the Finnish Companies Act and the Finnish Corporate Governance Code issued by the Securities Market Association.

Decision making

Under the Finnish Limited Liability Companies Act and Musti Group’s Articles of Association, the company’s governance and management are distributed between the shareholders, Board of Directors and the CEO. The management team supports the CEO in the daily management of the company’s operations.

The shareholders take part in the supervision and governance of the company through the resolutions of General Meetings of Shareholders. A General Meeting of Shareholders is generally convened by the Board of Directors. In addition to this, a General Meeting of Shareholders shall be held if the company’s auditor or shareholders representing a minimum of one-tenth of all outstanding shares in the company demand in writing that a General Meeting be convened.

The task of the Board of Directors is to see to the governance of the company and ensure the appropriate organisation of the company’s operations. According to Musti Group’s Articles of Association, the Board of Directors consists of a minimum of 3 and a maximum of 10 ordinary members. The term of office of the Board of Directors expires at the end of the first Annual General Meeting of Shareholders following the election.

The CEO is responsible for the supervision and control of the company’s day-to-day operations in accordance with the Limited Liability Companies Act, the company’s Code of Conduct and authorisations and guidelines issued by the Board of Directors. Musti Group’s Board of Directors appoints the CEO and decides on the terms and conditions of his/her executive contract in writing.

Statements, financial year 2020

Musti Group’s General Meeting has not prior to the Remuneration Statement yet been presented with a Remuneration Policy in accordance with the Finnish Corporate Governance Code 2020. The first Remuneration Policy will be presented to the Company’s Annual General Meeting to be held on 21 January 2021. For this reason, the Remuneration Statement has been prepared in accordance with the Finnish Corporate Governance Code 2015.

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