1. Annual report 2014
  2. Corporate Governance
  3. Supervisory Board
  • Supervisory Board
  • Risk management
  • Insider administration
  • Audit
  • Internal audit
  • Remuneration
  • VR City Traffic
  • Properties
  • Conductor
  • For the investor

    • Composition and functions of Supervisory Board

    VR-Group Ltd’s Supervisory Board comprises at least six (6) and at most twelve (12) members. The chair and the members of the Supervisory Board are elected at the Annual General Meeting. The Supervisory Board elects a vice chair from among its members. The term of the chair and member of the Supervisory Board is one (1) year and it expires at the end of the next Annual General Meeting following the election. The Annual General Meeting decides on the fees paid to members of the Supervisory Board.

    Representatives of personnel organisations also attend the meetings of the Supervisory Board of VR-Group Ltd. The Raideammattilaisten yhteisjärjestö JHL (Railway section of the trade union JHL) , the Locomotive Drivers Union, Rautatiealan Teknisten Liitto (Union of Railway Technical Personnel), Rautatievirkamiesliitto (Union of Railway Officials) and VR Akava are represented on the Supervisory Board. The personnel organisation representatives have the right to be present and to speak at meetings, but they are not full members of the Supervisory Board.

    The Supervisory Board will:

    • supervise the management of the company that is under the responsibility of the Board of Directors and the President and CEO, and ensure that the company’s affairs are managed in compliance with sound business principles, with good profitability as the aim, and in accordance with legislation, the articles of association and the decisions of the Annual General Meeting;
    • give the Board of Directors instructions on matters of wide-ranging or fundamental significance;
    • submit an opinion on the financial statements and the auditors’ report to the Annual General Meeting;
    • and review the financial and annual plans that include proposals for substantial changes to the main service offering, and monitor the implementation of these plans.

    Supervisory Board of VR-Group Ltd 2014

    Chair:

    Kari Rajamäki (b. 1948), Member of Parliament

    Members:

    Christina Gestrin (b. 1967), Member of Parliament

    Pertti Hemmilä (b. 1955), Member of Parliament

    Inkeri Kerola (b. 1957), Member of Parliament

    Timo V. Korhonen (b. 1959), Member of Parliament

    Merja Kuusisto (b. 1954), Member of Parliament

    Asmo Maanselkä (b. 1981), Party Secretary

    Aino-Kaisa Pekonen (b. 1979), Member of Parliament

    Riikka Slunga-Poutsalo (b. 1971), Party Secretary

    Oras Tynkkynen (b. 1977), Member of Parliament

    Raija Vahasalo (b. 1961), Member of Parliament

    Raimo Vistbacka (b. 1945), former Member of Parliament

    Representatives of personnel organisations:

    Risto Elonen, Chairman, Locomotive Drivers Union

    Seppo Juselius, Chairman, Rautatievirkamiesliitto (Union of Railway Officials)

    Vesa Mauriala, Chairman, Raideammattilaisten yhteisjärjestö JHL (Railway section of the trade union JHL)

    Veijo Sundqvist, Chairman, VR Akava

    Johanna Wäre, Chair, Rautatiealan Teknisten Liitto (Union of Railway Technical Personnel) (until 11 February 2014, Esko Salomaa)

    James Hirvisaari, Member of Parliament, also served as a member of the Supervisory Board until 15 May 2014.

     

    During 2014 the Supervisory Board met seven times and the average attendance rate for its members was 89 per cent.

    The fees paid to the Supervisory Board under the decision of the Annual General Meeting of 15/05/2014 are as follows:

    Chair EUR 800 /meeting Vice chair EUR 600 /meeting Member EUR 500 /meeting.

    In 2014 the members of the Supervisory Board were paid fees totalling EUR 53,800. This total comprises the fees paid to the chair, vice chair, members and the representatives of the personnel organisations.

    Supervisory Board members also receive a free VR rail pass.