Board

The main responsibility of the board of directors

The main responsibility of the board of directors is to, on behalf of the shareholders, manage the company’s business and operations and be responsible for the company’s organisation. The chairman of the board leads the work of the board. Immediately following the AGM the board shall have founding meeting and during the year the board shall meet regularly but in addition whenever requested. At the founding meeting resolutions are taken on signing on behalf on company, adoption of written instructions for the CEO and for the financial reporting and the rules of procedure for the board. The meetings of the board of directors includes i.e., the company’s financial situation, the development of the operations and other current topics where the board shall have information. The board of directors have the supervision of the work of the CEO, i.e. follow up that the CEO executes the decisions taken by the board of directors. Further, the board of directors prepares and proposes principles for remuneration of the management of the company which principles are adopted by the AGM. The board of directors also prepares and proposes any incentive program before the AGM. The company’s auditor is present and reports at board meetings whenever necessary. The board of directors is qualified to take any resolution if more than half of the directors are present at the meeting. Currently Isofol’s board of directors consists of five directors.