The ultimate responsibility for the management and operations of Outotec lies with the governing bodies of the parent company, Outotec Oyj, registered and existing under the laws of Finland. These bodies are the General Meeting of Shareholders, the Board of Directors and the President and Chief Executive Officer (CEO). Further, the Executive Board, operating under the authority of the CEO, has been formed for the efficient management of the company.
The governance principles applicable to the company are a combination of the laws of Finland, the Articles of Association approved by the General Meeting of Shareholders and Corporate Governance Policy approved by the Board of Directors. Outotec follows the most recent Finnish Corporate Governance Code for listed companies issued by the Securities Market Association Helsinki in June 2010, and which replaces the recommendation given in June 2008. The Corporate Governance Code is based on listed companies' self-regulation and it complements the statutory procedures.
The aim of the Code is to harmonize practices of the Finnish listed companies' corporate governance as well as the information given to shareholders and other investors. It will also improve the transparency of the administration bodies and that the Finnish listed companies apply the corporate governance practices of a high international standard. The Code is available on the Securities Market Association homepage at www.cgfinland.fi.
Outotec's Corporate Governance Statement
Outotec’s Corporate Governance statement 2010 has been prepared in accordance with the recommendation 54 of the Finnsih Corporate Governance Code and related instructions issued by the Securities Markets Association. Outotec's Corporate Governance Statement 2010 has been given separately from the financial statements and it is in its entirety published and maintained on Outotec’s website.
In addition to the above regulatory framework, Outotec abides by all guidelines and instructions issued by the Financial Supervision Authority, NASDAQ OMX Helsinki Ltd and the Finnish Central Chamber of Commerce, e.g. in the field of insider management, own shares, communications and takeovers.
Previous Corporate Governance Statements: