In its decision-making, administration and management, VR-Group Ltd complies with the Finnish Limited Liabilities Companies Act, the articles of association of VR-Group Ltd, the Finnish Corporate Governance Code 2015 issued by the Securities Market Association, and the opinions of the Ministerial Committee on Economic Policy that the Ownership Steering Department in the Prime Minister’s Office informs the company of.
The company deviates from the Corporate Governance Code 2015 in its general meeting procedures and administration of insiders. The grounds for these deviations are that the company has only one shareholder and the company’s shares are not listed on the stock exchange.
When selecting members to the Boards of Directors of the companies that it owns, the state owner observes its own guidelines and decisions concerning gender equality in the Boards of Directors of state-owned companies and the Government Action Plan for Gender Equality 2016–2019. In accordance with the Government Resolution on State Ownership Policy of 3 November 2011, the Government ensures compliance with gender equality objectives and adequate representation of both genders in the Boards of state-owned companies. Moreover, the objective laid out in the Government’s 2004 action plan for gender equality is that men and women should constitute at least 40 per cent each of the Board members in companies wholly owned by the state.
VR-Group Ltd observes the above-mentioned gender equality principles. In 2016, there were three women and five men in the Board of VR-Group Ltd.
The representation of both genders in the Board of VR-Group Ltd is in accordance with the Corporate Governance Code.
VR-Group Ltd publishes the Corporate Governance Statement, which has been approved by the Group's Board of Directors. The statement can be viewed on the company's website. The report is issued unaudited.