Group management team
The Group management team consists of the President and CEO, CFO and three Executive Vice Presidents responsible for the Group’s business segments, and four corporate support heads. The Group management team meets on a monthly basis.
The Group management team implements the strategic decisions made by the Board, including implementing and monitoring the Corporate Governance Guidelines and Operating Principles, and monitors and steers the performance and operations of subsidiaries on an on-going basis. The Group management team is responsible for the operative management of Cramo Group.
Information on Cramo’s Group management team members and their individual responsibilities can be found here. Information regarding Cramo’s remuneration policy and financial benefits of the Group management team is presented in the Remuneration Statement 2016.
General Managers of subsidiaries
The General Manager residing in a subsidiary’s country of domicile serves as the Managing Director of the operating subsidiary. When that person is responsible for the business operations of an entire country, he or she also acts as Country Manager.
The General Managers are in charge of the day-to-day management in accordance with Cramo’s strategy and Corporate Governance Guidelines and Operating Principles along with other guidelines defined by Cramo Plc and the Board of Directors of the subsidiary. At regular intervals, they report on the financial position and business operations of their company and its subsidiaries to their superior and to the operating company’s Board of Directors.
General management meeting
The General Management Meeting (GMM) is a management meeting held once a year and attended by the Group management team, General Managers and other key Group and operating personnel. The GMM lasts two days.
The GMM reviews and discusses strategy and operational objectives. These discussions serve as a basis for the following year’s operational and financial planning. Furthermore, the purpose of the GMM is to share information and knowledge amongst management with the intention of ensuring effective implementation of Cramo’s best practices.