Corporate Governance
This section includes information on Terveystalo's governance and control system, such as policies and principles, as well as information on Terveystalo's Board of Directors and Management Team.
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Internal control
In its operations, the Company applies a risk management and internal control policy, adopted by the Board of Directors. The objectives of internal control related to the financial reporting process are to ensure that Terveystalo’s financial reporting is reliable; that interim reports and financial statements are prepared in accordance with the accounting principles and policies applied by Terveystalo and give essentially correct information of the Company’s finances; and that regulations and principles are complied with. Internal control is based on Terveystalo’s risk management system, business culture, and respective practices.
Auditing of the accounts
Risk management
Purpose and objectives of risk management at Terveystalo.
Remuneration
Remuneration at Terveystalo is based on the principles of performance, fairness and competitiveness. These remuneration principles apply to all Terveystalo employees and the purpose is to ensure that Terveystalo as an employer attracts motivated and competent professionals. Remuneration shall support the achievement of Terveystalo´s strategic goals, align management’s priorities with the interests of Terveystalo´s shareholders, encourage behavior consistent with Terveystalo’s values, and reward excellent performance.
Insider administration
Terveystalo has its own insider policy (Terveystalo insider policy) which observes the applicable EU legislation, especially the Market Abuse Regulation (EU 596/2014, "MAR"), the regulations given by the Commission under MAR, and regulations and instructions given by the European Securities and Markets Authority (ESMA) or other entities pursuant to MAR, as well as Finnish legislation, especially the Securities Markets Act (746/2012, as amended) and the Finnish Penal Code (39/1889, as amended), Nasdaq Helsinki Ltd’s rules and guidelines for insiders and the guidance of the Finnish Financial Supervisory Authority.
Shareholders' Nomination Board
In accordance with the decision of the Annual General Meeting, the Shareholders’ Nomination Board annually prepares proposals to the next Annual General Meeting concerning the number of the Members of the Board and their election and remuneration. It also identifies candidates for Members of the Board.