 |
|
|
|
|
Board of Directors
Stora Enso Oyj is managed by a Board of Directors (the Board) under international two-tier corporate governance principles.
The Board consists of eleven ordinary members: nine non-executive and two executive members are appointed by the Annual General Meeting for a one-year term.
The Board supervises the operation and management of Stora Enso and decides on significant matters relating to strategy, investments, organisation and finance.
The Board is responsible for the management and proper organisation of Company operations. It is likewise responsible for the proper supervision of accounting and control of financial matters.
The Board elects a Chairman and a Vice Chairman from among its members and appoints the CEO, Deputy CEO and heads of divisions and staff functions. The Board approves the organisational structure of the Company.
The Board appoints the Compensation and Financial and Audit Committees.
The Board meets at least five times a year. During 2002 it convened nine times.
Chief Executive Officer (CEO)
The CEO is in charge of the day-to-day management of the Company in accordance with instructions and orders issued by the Board of Directors. It is the duty of the CEO to ensure that the Company's accounting methods comply with the law and that financial matters are handled in a reliable manner.
The CEO is directly in charge of the following: strategy (long-range planning and investments), finance, accounting and legal affairs, corporate communications, investor relations, preparatory work with regard to Board meetings. In addition he supervises decisions regarding key personnel, market services and IT and other important operational matters.
Deputy Chief Executive Officer (Deputy CEO)
The Deputy CEO acts as deputy to the CEO. The Deputy CEO is in charge of the following operational matters: monitoring and coaching of divisions, corporate support functions, purchasing, resources (wood, energy), R&D, environmental matters and human resources.
Executive Management Group (EMG)
The Executive Management Group is chaired by the CEO. It consists of the Deputy CEO and six divisional heads (Magazine Paper, Newsprint, Fine Paper, Packaging Boards, Timber and North America) and the heads of the Finance, Accounting and Legal Affairs (CFO) and Corporate Support staff functions.
The EMG's tasks and responsibilities are: investment planning and follow-up, control of mergers and acquisitions and divestments, preparation of strategic guidelines, allocation of resources, review of key day-to-day operations and operational decisions, preparatory work with regard to Board meetings and review of the main features of the sales network.
In addition to customary governance tasks in 2002, the EMG undertook the major task of reviewing the most efficient ways of utilising available capital within the framework set by the Board of Directors. This resulted in the Stora Enso Asset Restructuring Programme that lays out the framework and principles for the Company's capital allocation.
The EMG convened twenty times in 2002.
Management Group (MG)
The tasks and responsibilities of the Management Group are to review the budget, strategy and daily business development.
The members of the Management Group are: members of the EMG and other divisional heads as well as heads of staff functions. Additional members may be appointed by the CEO. In 2002 the Group had twenty-two members.
The MG meets approximately four times a year. In 2002 the Group convened four times.
Organisation - Board of Directors
Organisation - Management Group
|
|
|
|
 |
