Board of Directors
Chairman
born 1951, BA, LL.M.
Member of the Board of Directors 2016− Member of the Personnel Committee 2016−
Independent of YIT Corporation and its major shareholders
Primary working experience
Varma Mutual Pension Insurance Company, President and CEO 2004 – 2013
Fortum Corporation, Full-time Chairman of the Board of Directors 1998 – 2003
Ministry of Trade and Industry, Secretary General 1992 – 1998
Key positions of trust
Cleantech Invest Plc., Member of the Board 2016 –
Wihuri Ltd., Member of the Board 2016 –
Wihuri Packaging Ltd., Member of the Board 2016 –
Svenska Handelsbanken, Chairman of Finland Regional Bank 2015 –
Maanpuolustuksen aloitesäätiö, Member of the Board 2016 –
Mills Enterprises Ltd Oy, Chairman of the Board 2014 –
Relevant prior positions of trust
Wärtsilä Corporation, Stora Enso Oyj, The Federation of Financial Services and The Finnish Pension Alliance TELA, Nordic Investment Bank, Danisco A/S, Orion Corporation and Nokian Tyres plc.; Member of the Board
The Securities Market Association, Chairman of the Board Sampo Plc, Deputy Chairman of the Board
Vice Chairman
born 1958, LL.M.
Member of the Board of Directors 2014 – Member of the Audit Committee 2014 –
Independent of YIT Corporation and its major shareholders
Primary working experience
Caverion Corporation: Executive Vice President & CEO, Division Industrial Solutions 2015 –; Senior Vice President, Merges & Acquisitions 2014 – 2015; President and CEO, 2013 – 2014
YIT Corporation: President and CEO, 2008 – 2013 Worked for the YIT Group in various positions between 1991 – 2008
Key positions of trust
Helsinki Chamber of Commerce: Member of delegation
Member
born 1958, M.Sc. (Econ.), Elo Mutual Insurance Company: Managing Director 2015−
Member of the Board of Directors 2009− Member ot the Personnel Committee 2017−
Independent of YIT Corporation and its major shareholders.
Primary working experience
Elo Mutual Pension Insurance Company: Managing Director 2015 −; Vice President 2014−2015
Tapiola Mutual Pension Insurance Company: Managing Director 2008−2013
Federation of Finnish Financial Services: Managing Director 2006−2008
State Treasury in Finland: Finance Division, Director 1997−2006
Positions of trust
Ahlsell AB, Member of Board 2016−
Finnish Centre of Pensions, Member of Board 2016−
The Finnish Pension Alliance TELA, Member of Board 2015−
Helsinki Region Chamber of Commerce and Finnish Chambers of Commerce, Council Member 2015−
Strategic Committee of Agence France Tresor: Member 2014−
Trilateral Commission: Member 2014− EVA (Finnish Business and Policy Forum) and ETLA (Recearch Institute of the Finnish Economy) Board Member 2014−
Hanken Centre for Corporate Governance: Advisory Board Member 2012−
Finnish Cultural Foundation: Member of the Supervisory Board 2009−
Member
born 1960, M.Sc. (Econ.), President and CEO of Tikkurila Group 2009 −
Member of the Board of Directors 2013− Member of the Audit Committee 2016−
Independent of YIT Corporation and its major shareholders.
Primary working experience
Tikkurila Group: President and CEO 2009− Rautakirja Corporation: President and CEO 2001−2008, President of Kiosk operations 1997−2001.
Positions of trust
Member of the Board of Directors: Snellman Ltd, Vice Chairman of the Board of Directors 2011− East Office of Finnish Industries Ltd. 2011− Chemical Industry Federation of Finland 2009− Association of Finnish Paint Industry, Chairman of the Board of Directors 2015− Association of Finnish Advertisers 2009− Helsinki Chamber of Commerce 2009− Economic Information Office 2009− Member of the regional offices of the Confederation of Finnish Industries (EK) 2011−
Member
born 1976, Master of Economics, Co-Founder and Chairwoman, Pivot5 Oy
Member of the Board of Directors 2016− Member of the Personnel Committee 2016−
Independent of YIT Corporation and its major shareholders
Primary working experience
Pivot5 Oy, Co-Founder and Chairwoman 2016–
KoppiCatch Oy, Co-Founder and Chairwoman 2008–
Playforia Oy, CEO 2006–2008
Nokia Plc, Director 2005–2006
Digia Plc, VP Sales and Marketing 2001–2005
Sonera Corporation, Investment Manager 1996–2001
Positions of trust
Pivot5 Oy, Chairman of Board, 2016–
Fiskars Corporation, Member of Board, 2015–
Nokian Tyres Plc, Member of Board, 2014–
KoppiCatch Ltd, Chairman of Board, 2013–
Member
born 1966, MSc (Eng), MBA, Executive Vice President of Fortum, Generation Division since 2016 and Member of the Management Team since 2014
Member of the Board of Directors 2017− Member of the Audit Committee 2017−
Previous positions
Fortum Corporation, Executive Vice President, Nuclear and Thermal Power
Division 2014–2016
Fortum Power and Heat Oy, Vice President, Finance in Power Division 2009–
2014
Fortum Power and Heat Oy, Vice President, Business Control and Support,
Generation 2005–2009
Fortum, several managerial positions (business control, investments, strategy)
1990–2005
Positions of trust
Teollisuuden Voima Oyj, Member of the Board 2010 -
Member of the Board of several companies of the Fortum Corporation
Composition and tasks of the Board of Directors
The Board of Directors comprises the Chairman and the Vice chairman and 3 to 5 members elected by the general meeting of shareholders for one year at a time. The Articles of Association have no special provisions on the members of the Board of Directors. The majority of the members must be independent of the company. In addition, it is required that at least two of these membrs are independent of the major shareholders of the company. The President and CEO cannot be elected as the Chairman of the Board. Both genders must be represented on the Board of Directors.The Board of Directors convenes regularly as summoned by the Chairman. A quorum is established when more than half of its members are present. An opinion supported by more than half of the members present becomes the decision. When the votes are even, the Chairman has the casting vote.
The CEO as referendary and Corporate General Counsel as secretary of the Board are present at Board meetings. Other Management Board members and heads of business units and functions attend the meetings when necessary. The President and CEO and the secretary of the Board prepare the meetings with the Chairman of the Board and draw up the agendas. The President and CEO ensures that the Board is provided with sufficient information on matters such as the structure, operations, markets and competitive situation of the company in order to carry out its tasks. The meeting agendas and materials are sent to Board members in good time before the meeting.
The Board of Directors and its committees have ratified standing orders. The members of the Board evaluate the operation of the Board and its committees each year, and the results are taken into account in the Board’s work and its development.
Key tasks of the Board of Directors
Among other duties, the Board of Directors- ensures that the supervision of accounting and asset management is organised appropriately
- reviews and approves the company’s Financial Statements and the Board of Director’s Report as well as Interim Reports and half-yearly reports
- supervises and controls operating management
- elects and dismisses the CEO and his deputy, decides on their salaries and fees and agrees on the other terms of their employment
- convenes the General Meeting of shareholders and makes proposals on matters to be included on its agenda
- specifies the dividend policy and makes a proposal to the General Meeting on the dividend to be paid annually
- approves the Group’sstrategy, strategic goals and risk management principles
- approves budgets and operating plans and oversees their implementation
- approves significant acquisitions and other investments
- confirms the Group's functional structure
- ensures the functioning of management systems
- ratifies the Group’s values and management principles
-
monitors the Group’s audit and monitors and evaluates the auditor’s independence and the provision of non-audit services by the auditor
- prepares a proposal for the election of the auditor