YIT Corporation’s Board of Directors decided the composition of its committees
YIT Corporation Stock Exchange Release March 16, 2018 at 12:45 noon
YIT Corporation's Board of Directors held its organizational meeting on March 16, 2018. In the meeting, the Board decided on the composition of the Personnel Committee and the Audit Committee.
From among its number, the Board elected Harri-Pekka Kaukonen as chairman and Inka Mero and Tiina Tuomela as members of the Personnel Committee. The task of the Personnel Committee is to assist the Board of Directors in issues related to the nomination and remuneration of key personnel within YIT Group. Among other things, the Personnel Committee prepares the proposals for the Group’s corporate culture and HR policy development, remuneration and incentive schemes, the rules for performance-based bonuses and performance-based bonuses paid to the management. The Committee’s tasks furthermore include the identification of talent, the development of key personnel and management’s succession planning.
From among its number, the Board elected Erkki Järvinen as chairman and Eero Heliövaara, Olli-Petteri Lehtinen and Kristina Pentti-von Walzel as members of the Audit Committee. The Audit Committee assists the Board of Directors in the supervision of the Group’s accounting and reporting processes. It is tasked with, for instance, overseeing the company’s financial reporting process, the effectiveness of internal control, internal auditing and risk management systems, and with evaluating the audit. The Committee participates in the preparation of the Group’s financing policy, financing plan and financing arrangements. Among other things, the Committee reviews the company’s financial statements and half-year and interim reports, and monitors auditing. It also evaluates compliance with laws and regulations and follows the Group’s financial position.
For further information, please contact:
Kari Kauniskangas, President and CEO, YIT Corporation, tel. +358 40 570 1313, firstname.lastname@example.org
Vice President, Investor Relations
Distribution: Nasdaq Helsinki, major media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers our 10,000 professionals are creating more functional, more attractive and more sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our combined annual revenue for 2017 was over EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com