Neova Group is managed by the Annual General Meeting of Neova Oy, the Supervisory Board, the Board of Directors, the Chief Executive Officer and the directors of its divisions and business functions. Neova Oy’s Board of Directors appoints the members of the boards of directors of its most significant subsidiaries, ensuring that the work of the statutory executive bodies supports the operative business.
The operational management of Neova Group’s divisions and functions is the responsibility of the director of each division and function. The management of subsidiaries also takes place through Neova Group’s divisions and business functions.
The Chair of the senior governing body of the Group’s subsidiaries and the managing director of the company in question are responsible for ensuring that the subsidiary’s Board of Directors confirms the decisions of the Group Management Team to implement the decisions made by Neova Oy’s Board of Directors, Neova Oy’s CEO and Neova Oy’s director for the division or function in question, or by the Board of the parent company of the company concerned, to the extent that the applicable legislation requires a decision by a senior governing body. The decisions made by the governing bodies are recorded in the minutes.
Companies with minority shareholders external to the Group comply, for the most part, with the procedures described above, nevertheless taking into account the rights of the minority shareholders, and the rules detailed in the Articles of Association and any possible shareholders’ agreement.