Vaisala’s Board of Directors is responsible for the administration and the proper organization of the operations of the Company. In accordance with Vaisala Corporation’s Articles of Association, the Company’s Board of Directors comprises at least four and at most eight members. All Board members are appointed by an Annual General Meeting. The Board of Directors elects a Chairman and a Vice Chairman from among its members.
The term of the members of Vaisala’s Board of Directors deviates from the Recommendation 10 of Corporate Governance Code, which recommends a term of one year. The term of the Company’s Board of Directors is determined in accordance with its Articles of Association. Under the Articles of Association, a member’s term is three years, beginning at the close of the General Meeting in which the member is elected and ending at the close of the third subsequent Annual General Meeting. The General Meeting decides on changes to the Articles of Association. A longer term effectively promotes the commitment of Vaisala’s principal shareholders to the Company’s long-term development. The longer term practice has worked well and benefited the Company.