The ultimate responsibility for the management and operations of Metso Outotec lies with the governing bodies of the parent company, Metso Outotec Corporation, registered and existing under the laws of Finland.
Structure of governance
These governing bodies are the General Meeting of Shareholders, the Board of Directors, and the President and Chief Executive Officer (CEO). Further, the Executive Board, operating under the authority of the President and CEO, has been formed for the efficient management of the company.
The governance principles applicable to the company are a combination of the laws of Finland, the Articles of Association approved by the General Meeting of Shareholders and the Corporate Governance Policy approved by the Board of Directors. Metso Outotec follows the new Finnish Corporate Governance Code (the "Code") for listed companies issued by the Securities Market Association in 2020. The Code is based on listed companies' self-regulation and it complements the statutory procedures.
The aim of the Code is to harmonize practices of corporate governance of Finnish listed companies', as well as the information given to shareholders and other investors. It aims also to improve the transparency of the governing bodies and that the corporate governance practices of Finnish listed companies’ are of a high international standard. The Code is available on the Securities Market Association website at www.cgfinland.fi. In addition, Metso Outotec abides by all guidelines and instructions issued by the Financial Supervision Authority, Nasdaq Helsinki Ltd. and the Finland Chamber of Commerce, e.g. in the fields of insider management, own shares, communications and takeovers.
Metso Outotec’s Corporate Governance Statement will be prepared in accordance with the corporate governance reporting requirements of the Finnish Corporate Governance Code and related instructions issued by the Securities Markets Association. Metso Outotec’s Corporate Governance Statement will be issued separately from the Financial Statements in 2021. In addition, Metso Outotec’s Corporate Governance Policy in its entirety will be published and maintained on the Metso Outotec website.