Operations of the Board of Directors

The Board of Directors is vested with powers and duties to manage and supervise the operations of the Company as set forth in the Finnish Companies Act, the Articles of Association of the Company and other applicable regulations.

The Affecto Board of Directors consists of three to seven members that are appointed by the General Meeting of Shareholders. The term of office of the Board members ends at the conclusion of the first Annual General Meeting which is convened after the election. The Board elects a chairman and a deputy chairman from among its members after the Board has been appointed by the General Meeting. The Board steers and supervises the Company’s operations and decides on policies, goals, and strategies of major importance. In addition, the Board has a written charter that governs the board work.

The Board meets regularly, 10 times a year on average, according to a schedule decided in advance. Additional Board meetings shall be held if so requested by a Board member or the CEO.

The main contents of the Board of Directors’ charter are available at the latest corporate governance statement.

 

Members of the Board of Directors

The Board of Directors comprised the following members: Francois Boulanger (chairperson), Heikki Nikku and Charles Gill.