Management and governance

The administration of YIT Corporation and the YIT Group complies with Finnish legislation, particularly the Finnish Companies Act, Securities Market Act and Accounting Act as well as the rules of Helsinki Exchanges and the company’s Articles of Association. In addition, YIT complies with the recommendations on the Corporate Governance of listed companies that were released by HEX Ltd, the Central Chamber of Commerce and the Finnish Confederation of Industry and Employers TT in December 2003.

YIT Corporation’s Annual General Meeting is the Group’s highest decision-making body. The Annual General Meeting shall be held annually by the end of March. Extraordinary general meetings shall be held when the Board of Directors considers it necessary to do so or when required by legislation.

The Board of Directors of YIT Corporation shall be responsible for the administration and the proper organization of the operations of the entire YIT Group; in addition, it shall direct and oversee the operations of the YIT Group. It shall be the duty of the Board to promote the interests of the YIT Group and all YIT Corporation shareholders. The Chairman of YIT's Board is Reino Hanhinen, who acted as President and CEO of YIT Corporation during 1987-2005.

The President and CEO shall attend to the day-to-day administration of the company in accordance with the instructions and regulations laid down by the Board of Directors. As of 2006 Hannu Leinonen has acted as the President and CEO of YIT Corporation.

The Group’s Management Board assists the Group CEO with operational planning and management and prepares matters that are to be dealt with by the parent company’s Board of Directors.

Updated April 5, 2006
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