Corporate governance

Investors

Corporate governance

Atria Plc (”Atria” or ”the company”) is a Finnish public company, and the responsibilities and obligations of its governing bodies are determined by Finnish law. The parent company, Atria Plc, and its subsidiaries constitute the international Atria Group. The company is domiciled in Kuopio.

Responsibility for the administration and operations of Atria Group lies with the governing bodies of the parent, Atria Plc. These are the General Meeting, Supervisory Board, Board of Directors and CEO.

Atria’s decision-making and corporate governance are in compliance with the Finnish Limited Liability Companies Act, Securities Markets Act, Auditing Act and Accounting Act, as well as other regulations applied to publicly listed companies, Atria Plc’s Articles of Association, the rules of procedure for Atria’s Board of Directors and committee. In addition, Atria is obligated
by, for example, EU-level regulations, Nasdaq Helsinki Ltd’s rules as well as instructions and guidelines of the Finnish Financial Supervisory Authority. In 2019, Atria complied with the Corporate Governance Code published by the Securities Market Association and valid since 1 January 2016, and from 1 January 2020, Atria complies with the Corporate Governance Code valid since 1 January 2020. The Corporate Governance Code is publicly available on the Securities Market Association’s website at www.cgfinland.fi. In accordance with the Comply or Explain principle, the company departs from the recommendations of the
Code as follows (exceptions are explained in the relevant sections):

  • As an exception to recommendation 6 of the Code, the term of each Board member is three years in accordance with Atria’s Articles of Association.
  •  As an exception to recommendation 10 of the Code, only three of the eight Board members are independent of the company.
  • As an exception to recommendation 17 of the Code, one of the three members of the Nomination and Remuneration Committee is independent of the company.

Atria Plc has prepared this Corporate Governance Statement in accordance with the Corporate Governance Code valid since 1 January 2020. The Corporate Governance Statement is presented as a separate report from the Report by the Board of Directors.