Composition and functions of Supervisory Board
VR-Group Ltd’s Supervisory Board comprises at least six (6) and at most twelve (12) members. The chairman and members of the Supervisory Board are elected by the Annual General Meeting. A person aged 68 years or older may not be elected as chairman or member of the Supervisory Board. The Supervisory Board elects a deputy chairman from among its members. The term of office for members of the Supervisory Board is one year. The Annual General Meeting decides on the fees paid to members of the Supervisory Board.
Representatives of employee organizations also belong to the Supervisory Board of VR-Group Ltd. The Finnish Railwaymen’s Union, the Finnish Locomotivemen’s Union, Rautatiealan Teknisten Liitto (Union of Railway Technical Personnel), Rautatievirkamiesliitto (Union of Railway Officials) and VR Akava are represented on the Supervisory Board. The personnel organization representatives have the right to be present and to speak at meetings, but are not full members of the Supervisory Board.
The functions of the Supervisory Board are to:
- supervise the management of the company that is under the responsibility of the Board of Directors and the President and CEO, and ensure that the company’s affairs are managed in compliance with sound business principles, with good profitability as the aim, and in accordance with legislation, the articles of association and the decisions of the Annual General Meeting;
- give the Board of Directors instructions on matters of wide-ranging or fundamental significance;
- submit an opinion on the financial statements and the auditors’ report to the Annual General Meeting, and
- review the financial and annual plans that include proposals for substantial changes to the main service offering, and monitor the implementation of these plans.
Supervisory Board of VR-Group Ltd 2013
Chairman:
Kari Rajamäki (b. 1948), Member of Parliament
Members:
Christina Gestrin (b. 1967), Member of Parliament
Pertti Hemmilä (b. 1955), Member of Parliament
James Hirvisaari (b. 1960), Member of Parliament
Inkeri Kerola (b. 1957), Member of Parliament
Timo V. Korhonen (b. 1959), Member of Parliament
Merja Kuusisto (b. 1954), Member of Parliament
Asmo Maanselkä (b. 1981), Party Secretary
Aino-Kaisa Pekonen (b. 1979), Member of Parliament
Oras Tynkkynen (b. 1977), Member of Parliament
Raija Vahasalo (b. 1961), Member of Parliament
Raimo Vistbacka (b. 1945), former Member of Parliament
Representatives of personnel organisations:
Risto Elonen, Chairman of the Finnish Locomotivemen's Union
Vesa Mauriala, Chairman of the Finnish Railwaymen's Union
Esko Salomaa, Chairman of Rautatiealan Teknisten liitto
Veijo Sundqvist, Chairman of VR Akava (Until 21 March 2013: Teppo Sotavalta)
Tarja Turtiainen, Rautatievirkamiesliitto
The personnel organisation representatives have the right to be present and to speak at meetings, but are not full members of the Supervisory Board.
Sampsa Kataja also served as a member of the Supervisory Board until 20 March 2013.
During 2013 the Supervisory Board met seven times and the average attendance rate of the members was 80%.
The fees paid to the Supervisory Board under the decision of the Annual General Meeting of 20 March 2013 are as follows:
Chairman EUR 800 /meeting
Vice chairman EUR 600 /meeting
Member EUR 500 /meeting. In 2013 the members of the Supervisory Board were paid fees totalling EUR 54,300.This total comprises the fees paid to the chairman, vice chairman, members and the representatives of the personnel organisations.
Supervisory Board members also receive a free VR rail pass.
