• Destia Group
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• Destia Group
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  • Management and Corporate Governance
    • Board of Directors
    • Group structure
    • President & CEO and Group Management Team
      • Management Team
    • General Meeting
    • Risk management
    • Corporate Governance Statements
    • Internal control and internal audit
    • Audit of the accounts
  • Responsibility
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President & CEO and Group Management Team

The task of Destia Ltd’s President & CEO is to lead the company’s business operations and administration in accordance with the Limited Liability Companies Act and the instructions and directives issued by the Board of Directors. The President & CEO is not a member of the Destia Ltd Board of Directors. The relationship of the President & CEO with Destia is stipulated in an executive agreement approved by the Board of Directors. Hannu Leinonen has served as President & CEO since 1 October 2009.

The President & CEO is assisted by the Group Management Team. In addition to the President & CEO, the Group Management Team consists of the managers of operational business units, processes and Group units as well as the personnel representative. The Group Management Team looks after the Group’s business structure, management system and general planning and reporting systems. The President & CEO and Destia’s Group Management Team prepare the Group’s strategic plans, significant mergers and acquisitions and investments for the Board of Directors as well as oversee their implementation and risk management. Under the direction of the President & CEO, the Group Management Team is also responsible for implementing measures connected with the budget approved by the Board of Directors, and it informs the Board about the development of the company’s business operations and financial situation. Rules of procedure have been formulated for Destia’s Group Management Team. The Group Management Team convenes regularly. The President & CEO oversees the flow of information between the Board of Directors and the Group Management Team.

The President & CEO and Group Management Team 2012

Incentive system

The entire staff belong to the company’s incentive system. The compensation criteria of the incentive system are based on the financial objectives of the Group and profit centres in addition to the goals agreed during personal annual development discussions. Moreover, separate quick compensation is in use. This is awarded for excellent performance with regard to objectives not included in the general objectives of the bonus system.

The grounds for compensation in the incentive system and bonuses paid to the management are determined by the Board of Directors on the basis of the preparation by the Nomination and Compensation Committee. The other bonuses remitted are presented and decided on by the foreman.

The Board of Directors decides on the long-term incentive system and the persons covered by it. This matter is prepared by the Nomination and Compensation Committee.

The Group’s HR function has responsibility for the incentive system and its functions.

Corporate Governance Statement where more accurate information is available on compensation given to the President & CEO and management

Main features of internal control and risk management systems connected with financial reporting processes

In accordance with the Limited Liability Companies Act, the Board of Directors ensures that accounting and asset management are properly controlled. The President & CEO ensures that company accounting is in compliance with the law and asset management is handled reliably. Group management ensures that applicable legislation and decisions made by the Board are observed in everyday Group operations and that the Group’s risk management is handled in a suitable manner.