M&A Committee

Cramo’s Board of Directors has on 10 March 2020 resolved to disband the Board Committees.


The Board of Directors of Cramo Plc resolved on 28th March 2018 to establish a new board committee called M&A Committee, the purpose of which is to support the management on potential M&A activities and development and implementation of the strategy work of the company.

Year 2019

At its constitutive meeting on 28 March 2019, Mr Veli-Matti Reinikkala was appointed Chairman of the M&A Committee and Mr Joakim Rubin and Andrew P. Studdert were elected as members. Mr Reinikkala and Mr Studdert were deemed independent of the Company and its major shareholders. Mr Rubin is deemed independent of the Company, but not independent of its major shareholders.

The M&A Committee met twelve times in 2019.

Year 2018

At its constitutive meeting on 28 March 2018, Mr Veli-Matti Reinikkala was appointed Chairman of the M&A Committee and Mr Joakim Rubin and Mr Perttu Louhiluoto were elected as members.

The M&A Committee met four times in 2018.

Corporate governance statements

Corporate governance

The corporate governance at Cramo is based on Finnish law and the Company’s Articles of Association. The Group complies with the rules of Nasdaq Helsinki Ltd and from 1 January 2020 onwards the Finnish Corporate Governance Code 2020 published by the Securities Market Association. The Corporate Governance Code is available on the Securities Market Association’s website:  http://cgfinland.fi/en/. Cramo does not deviate from the Finnish Corporate Governance Code Recommendations.

The Group’s headquarters are in Vantaa, Finland and the Company is listed on the Nasdaq Helsinki Ltd.

Cramo prepares annual financial statements and interim reports conforming to Finnish law and International Financial Reporting Standards (IFRS). Statements and reports are published in Finnish and English.

Overview of Corporate Governance Components at Cramo Group

The Group’s control and management responsibilities are divided among the General Meeting of Shareholders, the Board of Directors with its three committees, Shareholders’ Nomination Committee, the President and CEO, the Group Management team and Managing Directors of subsidiaries. The Board of Directors supervises the performance of the Company, its management and organisation on behalf of shareholders. The Board of Directors and the Group management team are separate bodies, and no one serves as a member of both.