HELSINKI, Finland--(BUSINESS WIRE)--Regulatory News:
YIT Corporation's (HEX:YTY1V) Board of Directors held its organizational meeting on March 15, 2016. In the meeting, the Board decided on the composition of the Personnel Committee and the Audit Committee.
From among its number, the Board elected Matti Vuoria as chairman and Satu Huber ja Inka Mero as members of the Personnel Committee. The task of the Personnel Committee is to assist the Board of Directors in issues related to the nomination and remuneration of key personnel within YIT Group. Among other things, the Personnel Committee participates in the development of the Group’s corporate culture and HR policy and the preparation of the remuneration and incentive schemes, the rules for performance-based bonuses and the proposals for performance-based bonuses paid to the management. The Committee’s tasks furthermore include the identification of talent, the development of key personnel and management’s succession planning.
From among its number, the Board elected Erkki Järvinen as chairman and Satu Huber ja Juhani Pitkäkoski as members of the Audit Committee. The Audit Committee assists the Board of Directors in the supervision of the Group’s accounting and reporting processes. It is tasked with, for instance, overseeing the company’s financial reporting process, the effectiveness of internal control, internal auditing and risk management systems, and with evaluating the audit. The Committee participates in the preparation of the Group’s financing policy, financing plan and financing arrangements. Among other things, the Committee reviews the company’s financial statements and interim reports, and monitors auditing. It evaluates compliance with laws and regulations and follows the Group’s financial position.
Vice President, Investor Relations and M&A
Distribution: NASDAQ Helsinki, principal media, www.yitgroup.com
YIT is a construction industry leader that creates sustainable urban environments by constructing housing, business premises, infrastructure and entire areas. We focus on providing a first-class customer experience, high quality and continuous development of our diverse expertise. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. Our vision is to stay one step ahead – while caring for our customers, partners and personnel. We have over 5,300 employees in eight countries. In 2015, our revenue amounted to nearly EUR 1.7 billion. Our share is listed on Nasdaq OMX Helsinki. www.yitgroup.com
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