Cramo Plc’s Managing Director, who also acts as the President and CEO, is in charge of the Company’s day-to-day management in accordance with the Finnish Companies Act and related legislation as well as instructions and orders given by the Board of Directors.
The areas of responsibility of the President and CEO, in addition to meeting the legal requirements mentioned above and implementing the Board’s decisions, specifically include achieving objectives of the business; increasing shareholder value, the Company’s profitability and the efficiency of the Company’s operations; and making investments within the limits defined by the Board. Cramo has an internal document concerning authorisations granted and approval limits for work divided between the Board of Directors, the President and CEO and other management.
The President and CEO is appointed by the Board of Directors. His or her service contract is approved by the Board. The performance of the President and CEO is evaluated annually by the Board of Directors. In addition to a monthly salary and fringe benefits, the President and CEO is eligible for a performance-based bonus on an annual basis and long-term incentives.
Information regarding President and CEO’s service contract and remuneration is described in the Remuneration Statement.
The President and CEO shall not be elected Chairman of the Board. Furthermore, neither the President and CEO nor other executives of the Company shall be appointed as formal members of the Remuneration Committee.
The President and CEO is assisted by the Group management team.
Further information on the President and CEO’s biographical details can be found here.