YIT CORPORATION'S BOARD OF DIRECTORS DECIDED THE COMPOSITION OF ITS COMMITTEES
Helsinki, 2011-03-11 13:00 CET --
YIT CORPORATION STOCK EXCHANGE RELEASE March 11, 2011 at 14:00
YIT CORPORATION’S BOARD OF DIRECTORS DECIDED THE COMPOSITION OF ITS COMMITTEES
YIT Corporation's Board of Directors held its organizational meeting on March 11, 2011. In the meeting the Board decided on the composition of the Audit Committee as well as the Nomination and Rewards Committee.
From among its number, the Board elected Michael Rosenlew as chairman and Eino Halonen and Satu Huber as members of the audit committee. The Audit Committee assists the Board of Directors in the supervision of the Group's reporting and accounting processes. Its tasks include overseeing the financial reporting process of the company, effectiveness of internal control, internal audit and risk management systems as well as monitoring and assessing the audit.
The Board elected Henrik Ehrnrooth as chairman and Eino Halonen, Reino Hanhinen and Antti Herlin as members of the nomination and rewards committee from among its number. The Nomination and Rewards Committee prepares matters related to the appointment and emoluments of Board members and the Group's key personnel as well as the Group's HR policy. The Committee prepares proposals on the appointment of Board members, CEO and other Group key personnel as well as their remuneration and other terms of employment. In addition, its tasks include preparing the Group's bonus rules and other issues related to pay policy.
For additional information, please contact:
Antero Saarilahti, Senior Vice President, Administration, +358 20 433 2280, email@example.com
Senior Vice President, Corporate Communications
Distribution: NASDAQ OMX, principal media, www.yitgroup.com
YIT is a successful European service company in building systems, construction services and services for industry. We build, develop and maintain quality living environments in Nordic countries, Central Europe, Russia and Baltic countries. In 2010, YIT's revenue amounted to EUR 3.8 billion. The Group employs nearly 26,000 people. YIT's share is listed on NASDAQ OMX Helsinki. www.yitgroup.com