In order to ensure that the tasks of the Board of Directors are effectively managed, Metsäliitto Cooperative's Board of Directors has an Audit Committee and a HR Committee. The Committees do not have authority to make decisions independently; the Board of Directors makes the decisions on matters based on the preparation of the Committees. The Board of Directors elects the members of the Committee from among its members.
AUDIT COMMITTEE
The Audit Committee assists the Board of Directors in performing its supervision task. In this task, the committee assesses and supervises matters related to financial and sustainability reporting, auditing, internal audit and risk management in accordance with procedures approved for it.
The Audit Committee comprises a minimum of three members, most of whom are independent of the company, elected annually by the Board of Directors from among its members. In addition, the Chair of the Supervisory Board has the right to attend the Audit Committee’s meetings. The President and CEO and the Group's Chief Financial Officer also attends the meetings of the Audit Committee, except for the times when the Audit Committee wishes to convene without the presence of the executive management. The Audit Committee regularly reports to the Board of Directors on its operations and observations.
In 2024, the Chair of the Audit Committee was Ilkka Salonen. The other members of the committee in 2024 were Jussi Linnanranta, Mikko Mäkimattila, Eija Pitkänen and Jussi Vanhanen. In 2025, Ilkka Salonen will continue as the Chair of the Audit Committee. Jussi Linnaranta, Eija Pitkänen and Jussi Vanhanen will continue as members of the committee. Päivi Lindqvist was elected as a new committee member for 2025. The attendance rate of the members of the Audit Committee was 100%.
HR COMMITTEE
The purpose of the HR Committee is to assist the Board of Directors in ensuring that Metsä Group has appropriate and competitive incentive systems, and successor and development planning in accordance with the procedure approved for it. In its task, the committee presents matters such as the terms of the employment relationship of the Managing Director and the President and CEO, incentive systems for the senior management, and key principles in the senior management’s contracts to the Board of Directors for decision. In addition, the HR Committee presents the annual targets for the senior management to the Board of Directors for approval and monitors their realisation. Furthermore, the committee processes matters related to the incentiver systems of the senior management and presents them for the decision of the Board of Directors.
The Board of Directors annually elects three members to the HR Committee from among its members. The majority of the members of the HR Committee must be independent of Metsä Group. The President and CEO and Group SVP, HR also attends the meetings of the HR Committee, except when the committee wishes to convene without the presence of the executive management. The HR Committee regularly reports to the Board of Directors on its operations.
In 2024, the Chair of the HR Committee was Taavi Heikkilä, and the members were Teuvo Hatva, Jussi Linnaranta and Nina Pärssinen. Taavi Heikkilä will continue as the Chair of the HR Committee in 2025. Teuvo Hatva and Jussi Linnaranta will continue as members of the committee. Mikko Mäkimattila was elected as a new committee member for 2025. The HR Committee convened five times, and the members’ attendance rate was 100%.