Corporate Governance Recommendation
Raisio complies with the Finnish Corporate Governance Code (2010) approved by the Securities Market Association. The Code is available on Securities Market Association's website at www.cgfinland.fi. Raisio plc is a contributing member of the Securities Market Association.
The Board of Directors has not set up an audit committee as defined in the Corporate Governance Code (recommendation 24), since the entire Board is well able to discuss financial reporting and control, taking into account the size of the Group's business and the fact that the auditors report on their activities and observations to the Board at least twice a year. The Board has not set up a nominating committee (recommendation 28) because the nomination group, appointed by the Supervisory Board among its members, prepares the appointment of members to the Board.
In view of the Board's size, two members are considered to be sufficient for the remuneration committee (recommendations 22 and 31).