Board of Directors
Fingrid’s annual general meeting elects a Board once per year. In accordance with the articles of association, the Board of Directors consists of five (5) members. Shareholders who hold Series B shares in the company are entitled to elect one (1) member of the Board through a simple majority decision in accordance with the quantity of Series B shares held. Individuals who are Board members in a company which practices the sale or production of electricity or natural gas, or in a body which represents such a company, may not be elected as a member of the Board. The general meeting elects one Board member to serve as the Chair of the Board and one member to serve as the Deputy Chair of the Board. The Board is convened by the Chair or Deputy Chair of the Board.
The Board constitutes a quorum when more than half of its members are present, and one of these is the Chair or the Deputy Chair. The decisions of the Board of Directors are made through a simple majority on the basis of the Board members present in the meeting. New Board members are familiarised with the company’s operations. A Board member’s period of office expires at the closing of the next annual general meeting following is or her election.
Operations of the Board of Directors
The Board of Directors assembled 11 times in 2017.
The tasks and responsibilities of Fingrid’s Board are set out by the Limited Liability Companies Act and other applicable legislation, as well as the articles of association. The Board of Directors is responsible for the administration and appropriate organisation of the operations of the company. The Board of Directors
makes sure that the company adheres to the relevant rules and regulations, articles of association of the company, and guidelines provided by the annual general meeting. The primary duties and principles of the Board of Directors are also specified in the Board’s working order.
The Board of Directors has two committees: an audit committee and a remuneration committee. The Board of Directors elects of its members the committee members and confirms the working orders of the committees.
More information on Board meetings can be found in Corporate Governance Statement.
Updated 5 March 2018