YIT Corporation’s Board of Directors decided the composition of its committees
YIT Corporation's Board of Directors held its organisational meeting on 16 March 2023. In the meeting, the Board decided on the composition of the Audit Committee and the Personnel Committee as well as the Investment and Project Committee.
From among its number, the Board elected Jyri Luomakoski as chairperson and Sami Laine and Kerttu Tuomas as members of the Audit Committee. The Audit Committee assists the Board of Directors in the supervision of the Group’s reporting and accounting processes. Its tasks include overseeing the financial reporting process of the company, the effectiveness of internal control, internal audit and risk management systems as well as monitoring and assessing the audit. The Committee participates in the preparation of the Group’s financing policy, financing plan and financing arrangements. The Committee reviews the company’s financial statements, interim reports and half-year reports and monitors auditing. It evaluates compliance with laws and regulations and follows the Group’s financial position.
From among its number, the Board elected Kerttu Tuomas as chairperson and Harri-Pekka Kaukonen, Jyri Luomakoski and Keith Silverang as members of the Personnel Committee. The task of the Personnel Committee is to assist the Board of Directors in issues related to appointing and rewarding key personnel. Among other things, the Personnel Committee prepares the proposals for the Group’s corporate culture and HR policy, remuneration and incentive schemes, the rules for performance-based bonuses and the performance-based bonuses paid to the management. In addition, identifying talents, the development of key personnel, and planning for management successors fall under the preparation responsibility of the committee.
From among its number, the Board elected Casimir Lindholm as chairperson and Harri-Pekka Kaukonen, Sami Laine and Barbara Topolska as members of the Investment and Project Committee. The main function of the Investment and Project Committee is to assist the Board of Directors of YIT Corporation by discussing and preparing, in accordance with the internal decision-making authorizations approved by the Board of Directors, significant contract tenders, property development projects, plot and area development project investments and divestments, acquisitions, disposals and equity investments, and to monitor the development, financial reporting and risk management of the respective portfolios.
For further information:
Juha Jauhiainen, Corporate General Counsel, YIT Corporation, tel. +358 40 725 9643, email@example.com
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, infrastructure for smooth mobility, and renewable energy solutions to benefit the climate. We employ around 5,000 professionals in nine countries: Finland, Sweden, Norway, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com