The Annual General Meeting of Neova Oy annually appoints a Supervisory Board consisting of a minimum of 8 and a maximum of 10 members elected by the Annual General Meeting for a term of one year in the manner specified in the Shareholders’ Agreement between the company’s owners. The meetings of the Supervisory Board are also attended by three employee representatives elected by the personnel for a term of two years at a time.
The Supervisory Board operates according to the Limited Liability Companies Act and the Articles of Association, and is tasked with the following:
- to supervise the administration of the company carried out by the Board of Directors and the Chief Executive Officer
- to issue a statement to the Annual General Meeting on the financial statements and the auditor’s report
- to provide instructions to the Board of Directors on matters that have far-reaching consequences and involve important primary issues
- to issue a statement to a General Meeting on issues that require a statement by the Supervisory Board as per the Finnish Companies Act.
Information on the compensation of the members of the Supervisory Board is provided in the section Remuneration of Senior Management.