Corporate governance

Corporate governance

Kemijoki Oy is committed to complying with the principles of sound corporate governance and the Finnish legislation. In addition, Kemijoki Oy’s administration and decision-making are guided by the Articles of Association, the goals and principles of the company operations and the agendas of the administrative bodies.

The parent company of the Kemijoki Group is Kemijoki Oy whose administrative bodies include The Annual General Meeting, the Administrative Board, the Board of Directors, the CEO and the Executive Board. Kemijoki Oy’s registered office is located in Rovaniemi. The company operates in the field of hydroelectricity production in Finland and carries out business operations related to that field.

Administrative bodies

Annual General Meeting

The Annual General Meeting has the highest decision-making power. The Regular General Meeting is organized annually by the end of June in Rovaniemi or Helsinki. The invitation to the Annual General Meeting is sent by the Board of Directors.

Administrative Board

According to Kemijoki Oy’s Articles of Association, the main task of the Administrative Board is to supervise the company’s administration managed by the CEO and the Board of Directors and to provide guidance for the Board of Directors in far-reaching and fundamentally important matters. In addition, the Administrative Board provides the Annual General Meeting with a statement regarding the financial statement and the accounting report.

Board of Directors

The Board of Directors is responsible for the company’s administration and organizing operations in accordance with the legislation, the Articles of Association and the Annual General Meeting. According to its rule of procedure, the Board of Directors shall

  • confirm the company’s strategy
  • guide and supervise Kemijoki Oy’s operations
  • confirm the organizational structure
  • appoint the members of the Executive Board
  • decide on the compensation and bonus system of the CEO and the executives

CEO and Executive Board

The CEO is responsible for managing the day-to-day administration in accordance with the instructions and regulations given by the Board of Directors. The CEO is chosen by the Board of Directors. The Executive Board assists the CEO in managing the company’s administration and in implementing strategies.