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Committees of the Board of Directors

The Board of Directors nominates committees and appoints committee members. Committees are responsible for preparing issues coming up for decision at the Board of Directors’ meetings. Fazer’s Board of Directors appoints annually an Audit Committee and an HR Committee.

 

Audit Committee

The task of the Audit Committee is to assist the Board of Directors in its responsibilities related to the appropriate arrangement of the control of the Group’s accounts and finances. The Audit Committee monitors the Group’s financial situation, the financial statement reporting processes, the efficiency of internal control, internal auditing and risk management systems, monitors the statutory audit of financial statements and consolidated financial statements, evaluates the independence of the statutory audit firm, and prepares the proposal for resolution on the election of the auditor.

The Audit Committee comprises of Jan Fazer (Chairman), Ketil Eriksen, Juhani Mäkinen and Laura Tarkka.

In 2021, the Audit Committee held four meetings, and, apart from ordinary issues, it dealt with questions related to e.g., information security, the development of non-core assets, compliance upgrade projects and the impact of COVID-19 on business risk.

HR Committee

The task of the HR (Human Resources) Committee is to assist the Board of Directors in its responsibilities related to employment and rewarding of the President and CEO and the Group’s senior management, monitoring the total compensation of the management and incentive programmes of the personnel and to evaluate the management’s work including reviewing the employee satisfaction survey results.

The HR Committee comprises of Casper von Koskull (Chairman), Johan Linder and Cecilia Marlow.

In 2021, the HR Committee met four times, and prepared issues for the Board related to, for example, the Fazer people strategy, leadership development, and incentive programmes of the personnel.