Savola CG Manual - page 2

Copyrights © All Rights Reserved to Savola Group 1
Table of Contents
First. Preliminary Provisions ........................................................................................... 2
1) Introduction, Objectives and Importance...............................................................................2
1-1) Introduction ...................................................................................................................2
1-2) Objectives of CG Framework........................................................................................2
1-3) Importance of Corporate Governance for Savola .........................................................2
2) Definitions and Abbreviations................................................................................................3
Second. Reference, Compliance and Implementation of Effective Governan`ce.................... 7
1) Reference ..............................................................................................................................7
2) Amendment Procedures........................................................................................................7
3) Principle of Comply or Explain: .............................................................................................8
4) Implementation of Effective Governance ..............................................................................8
Third. Rights of Shareholders and facilitation of exercising of their rights ......................... 8
Fourth. Board of Directors and Executive Management ...................................................... 9
Fifth. Committees of Savola.......................................................................................... 23
1) Committee General Guidelines ...........................................................................................23
Conflict of Interest Policy ..................................................................................................... 25
Sixth. Conflict of Interest Policy and Addressing of Potential Conflict of Interest Cases ... 26
Seventh. Internal Control................................................................................................... 30
a) Internal Audit Department ...................................................................................................30
b) CG & Compliance Department:...........................................................................................32
c) Risk Management ...............................................................................................................33
Eighth. The Company’s External Auditor .......................................................................... 35
1) Assigning the Audit Function...............................................................................................35
2) Appointment and Duties of the External Auditor: ................................................................35
a) Appointment of External Auditor: ........................................................................................35
b) Auditor Duties: .....................................................................................................................35
Ninth. Stakeholders ....................................................................................................... 36
1) Organizing Relations with Stakeholder ...............................................................................36
2) Reporting Non-Compliant Practices ....................................................................................38
3) Employee Incentives and Remuneration Policy..................................................................38
Tenth. Professional and Ethical Standards....................................................................... 39
1) Code of Conduct and Ethical Values ..................................................................................39
2) Social Responsibility and Social Initiatives .........................................................................39
Eleventh. Disclosure and Transparency ............................................................................... 40
a) Disclosure and Transparency Policy...................................................................................40
b) Additional initiatives to support the principle of disclosure and transparency: ....................42
c) Spokesperson for the Savola Group: ..................................................................................43
Twelfth. Retaining of Documents ...................................................................................... 43
Thirteenth. Final Provisions (Publication and Enforcement) .............................................. 43