The Board is responsible for Siili’s administration and the appropriate organization of its operations. In accordance with the Articles of Association, the Board consists of three to six members, who are elected by the Annual General Meeting. The Board members’ term of office ends at the end of the Annual General Meeting following their election. The Board elects its Chair and Vice Chair from among its members.
The Board’s duties also include making decisions related to the company’s strategy, confirming its operational plan and budget, and reviewing and approving its financial statements and the Board of Directors’ report. The Board of Directors decides on strategically or financially significant investments, acquisitions and contingent liabilities, approves the company’s financing policies, confirms the company’s risk management and reporting practices and makes decisions related to its remuneration and incentive system. The Board also makes decisions related to the company’s structure, is responsible for its dividend policy and the development of its shareholder value, appoints the CEO and makes decisions pertaining to their employee benefits, decides on the appointment of a deputy CEO, takes care of the duties of the Audit Committee and is responsible for other duties designated for the Board in accordance with the Limited Liability Companies Act or otherwise.