The duties and responsibilities of the Board of Directors of PHM Group are defined in the Finnish Companies Act and other applicable legislation. The Board of Directors of PHM Group has a general authority to decide and act in all matters not reserved for other corporate governance bodies by law or under the provisions of the company’s Articles of Association. The Board of Directors is responsible for the company’s administration and the due organisation of its operations and has a general task to organise and oversee the company’s management, as well as to manage the company’s subsidiaries.
According to PHM Group’s Articles of Association, the Board of Directors shall have a minimum of one (1) and a maximum of six (6) members. The number of members of the Board of Directors is determined at the company’s General Meeting of Shareholders, where the members of the Board of Directors are also elected. The Board of Directors elects a Chairman from among its members. As per the Articles of Association of PHM Group, the term of a member of the Board of Directors is continuous.