Management and governance

We are committed to good corporate governance through compliance with laws and regulations and by implementing best practices.

The administration of YIT Corporation and the YIT Group complies with Finnish legislation, particularly the Finnish Companies Act, Accounting Act and Securities Market Act. In addition, as of January 1, 2009 we adopted the Finnish Corporate Governance Code published by NASDAQ OMX Helsinki Ltd, Central Chamber of Commerce and Confederation of Finnish Industries EK, which replaced the recommendations on the Corporate Governance of listed companies in Finland which took effect in July 2004. Our management and governance system is described in YIT Corporation's Corporate Governance Statement.

We also comply with the Helsinki Stock Exchange insider guidelines and the recommendations of the Central Chamber of Commerce on procedures for public tendering in our decision-making and governance. YIT has been listed on the Helsinki Stock Exchange since 1995.

YIT Corporation's highest decision-making body is the shareholders at Annual General Meeting. The Board of Directors and the CEO are responsible for the management of the company. Management Board supports the President and Chairman of the Board of Directors, sufficient number of members of the Board of Directors, external auditor and President and CEO are present at the meeting.

Governance bodies

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 Henrik Ehrnrooth.

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 2008 Juhani Pitkäkoski 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.

March 9, 2010
InvestorRelations@yit.fi