Corporate Governance

Raute complies with the Finnish Corporate Governance Code 2020 for listed companies

Governance

In its decision-making and corporate governance, our parent company abides by the Finnish Companies Act, the Securities Markets Act, Nasdaq Helsinki Ltd’s rules, other regulations concerning publicly listed companies and the Articles of Association. Raute Corporation’s Board of Directors has also approved the Code of Conduct which explains to personnel, partners and other stakeholders what Raute's demands and expectations are in terms of responsible and ethical operations.

Raute Group’s parent company is the Finnish public limited liability company Raute Corporation, which was established in 1908. Our Finnish units include our head office and main production unit in Nastola, Lahti and a production and development unit specializing in machine vision and moisture analyzing technology in Kajaani. The Group also includes eight foreign subsidiaries. Our production units are located in the Vancouver area of Canada, the Shanghai area of China and in Pullman, Washington, USA. Additionally, customer and maintenance services
are offered by our subsidiaries in St. Petersburg, Russia, Santiago, Chile and Singapore. Our agent network and local service centers are located close to our customers.

Our Group’s greatest identified risks relate to the nature of the project business, market development, information security, financing, and damage or loss. According to our analysis, the Group’s most significant business risks are fluctuations in investment demand resulting from economic cycles and commercial risks and technological risks linked to our deliveries. The foundation of our Group’s internal control is management that corresponds with our values and Code of Conduct. There is no separate internal control organization in our Group.

Raute complies with the Finnish Corporate Governance Code 2020 for listed companies issued by the Securities Market Association on September 19, 2019. 

Raute's day-to-day management is the responsibility of the Board of Directors and the President and CEO. The other management (other Executive Board members) assists the President and CEO in his duties. The Board of Directors oversees compliance with Raute's Corporate Governance principles.

Corporate Governance Statement

Raute has published on February 12, 2021 Raute's Corporate Governance Statement 2020, which has been drafted in accordance with Chapter 7, Section 7 of the Finnish Securities Markets Act and with the Finnish Corporate Governance Code 2020 for listed companies issued by the Securities Market Association on September 19, 2019. You can find Corporate Governance Statement 2020 in here.

Previously published Corporate Governance Statements can be found in here.