In 2017, the Group was acquired by its current principal shareholder, Bain Capital. The Group and its shareholder are committed to the highest standards of governance.
CEO and Group Management
The Group Management includes the CEO, the four functional heads (CFO, Operational Development, HR & Communication, General Counsel) and the seven managing directors (Finland & Baltics, Sweden, Norway & Denmark, The Netherlands, Eastern Europe, Spain and Emerging Markets), all composing the Executive Management Team.
The CEO is appointed by the Supervisory Board, who in turn appoints members of the Executive Management Team. The CEO shall administer the Company’s and the Group’s ongoing operations under the control of the Supervisory Board. Group Management holds monthly meetings to review the previous month’s results, to update forecasts and plans and more generally to discuss group matters and strategic issues.
The CEO reports to the Supervisory Board and ensures that the Supervisory Board receives the information required to be able to monitor properly the affairs of the Company and the Group.
The Supervisory Board has the responsibility for monitoring the Company’s and the Group’s organization and administration by the CEO and the Executive Management Team and continuously supervise the operations, management, governing documents and internal control. The Supervisory Board’s prior authorization is required on certain strategic and important decisions.
The Supervisory Board
Committees of the Supervisory Board
The Audit Committee supports the Supervisory Board in monitoring that the Company and the Group are organized and managed in such a way that their respective accounts, management of funds and financial conditions in all aspects are controlled in a satisfactory manner in accordance with laws, rules and regulations as well as internal governing documents.
The Compensation and Nomination Committee’s primary task is to prepare the Supervisory Board’s proposal concerning guidelines for remuneration for the CEO and the Group Management. The Compensation and Nomination Committee monitors and evaluates the applied remuneration structure and remuneration levels in the Group for the CEO and the Group Management. The Head of Human Resources and the CEO participate in the Compensation and Nomination Committee meetings.
PricewaterhouseCoopers (PwC) are the external auditors of the Company.
The external audit is conducted in accordance with the International Standards on Auditing (ISA). Audits of local statutory financial statements for legal entities are performed as required by law or applicable regulations in the respective countries and as required by IFAC GAAS, including issuance of audit opinions for the various legal entities.