Board commitees

Raute has established a Shareholders' Nomination Board. The Audit Committee's tasks are handled by Raute Corporation's Board of Directors.

The Audit Committee's tasks are handled by Raute Corporation's Board of Directors. In this capacity, the Board meets the external auditor at least once a year without the members of the management employed by the company.

In the capacity of the Audit Committee, the Board's responsibilities include reviewing the company's financial statements and interim reports, estimating of additional auditing services, monitoring the internal control system, and seeing to internal and external audits.

Annually, the Board of Directors elects annually members among its members to the standing committees.

During the term of office 2022-2023, the tasks of the Working Committee were handled by the Board of Directors. 

Working committee

For the preparation of matters of major importance, the Board of Directors appoints a Working Committee, which includes the Chairman of the Board of Directors, the Vice-Chairman and one Board member.

During the term of office 2022-2023, the tasks of the Working Committee were handled by the Board of Directors.

Other committees

In view of the composition of the Board of Directors and the nature and extent of Raute's operations, the Board of Directors has not considered it necessary to set up other standing committees such as an audit committee or a remunerations committee to oversee matters pertaining to the Board of Directors. The Board of Directors attends to the responsibilities of the Audit Committee.

Information on the Board Committees is published annually in the Corporate Governance Statement.

 

Establishment of a Shareholders' Nomination Board

The Annual General Meeting,  held on March 30, 2023, decided to establish a permanent shareholders’ nomination board to prepare the election and remuneration of the Board of Directors (the “Nomination Board”) and to confirm the charter for the Nomination Board. The Nomination Board has three members who are appointed by the three largest shareholders, each of whom has the right to appoint one member.