Annual Report 2014 | Suomeksi |

Governing bodies of Fortum

The decision-making bodies managing and overseeing the Group's administration and operations are the General Meeting of Shareholders, the Board of Directors with its two Committees, the Audit and Risk Committee and the Nomination and Remuneration Committee, and the President and CEO, supported by the Fortum Executive Management Team.

The General Meeting of Shareholders is the highest decision-making body of Fortum making resolutions in matters designated in the Companies Act. The Board of Directors is responsible for the company's strategic development and for supervising and steering the company's business and management. The President and CEO, supported by the Fortum Executive Management Team, has the operational responsibility at the Group level and is in charge of the day-to-day management of the Group, and at the division level, the operational responsibility is held by the division head, supported by the division's management team. In connection with the reorganisation as of 1 March 2014 Fortum Management Team was renamed as Fortum Executive Management Team (FEM) and the number of members was extended from nine to twelve.

Governing bodies of Fortum

In addition, Fortum has an informal Advisory Council consisting of representatives of Fortum's stakeholder groups as invited by the Board of Directors. The Advisory Council aims to advance Fortum's businesses by facilitating a dialogue and exchange of views between Fortum and its stakeholders. During 2014, the Advisory Council consisted of 14 representatives of Fortum's stakeholder groups and three employee representatives.

Fortum has not established a specific Sustainability Committee for decision-making on economic, environmental and social issues. As sustainability is an integral part of Fortum’s strategy, the highest decision-making of these issues falls on the duties of the Board of Directors who share joint responsibility on sustainability matters. The Audit and Risk Committee, members of the Fortum Executive Management Team and other senior executives support the Board of Directors in the decision-making in the aforementioned matters, when necessary.


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