In accordance with Vaisala Corporation’s Articles of Association, the company’s Board of Directors comprises at least three (3) and at most eight (8) members. All Board members are appointed by a General Meeting of Shareholders. The Board elects a Chairman and a Vice Chairman from among its members.
The majority of the Board members must be independent of the company and at least two members in this majority must be independent of the company’s major shareholders.
Term of the Board members
The term of the members of Vaisala’s Board of Directors deviates from the Corporate Governance Code, which recommends a term of one year. The term of the company’s Board is determined in accordance with its Articles of Association. The General Meeting decides on changes to the 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.
A longer term effectively promotes the commitment of Vaisala’s principal shareholders to the company’s long-term development.
Meetings
The Board of Vaisala convenes nine times each year in accordance with a schedule agreed in advance and if otherwise needed. The Group President and CEO and the Chief Financial Officer also attend Board meetings. The other members of the Management Group attend Board meetings as required on the invitation of the Board.
Vaisala's Board of Directors in 2012
The Vaisala Board members are: Raimo Voipio (chair), Yrjö Neuvo, Maija Torkko, Mikko Niinivaara, Timo Lappalainen and Mikko Voipio. The secretary of the Board is Mr. Matti Kari, L.LM, Attorney at Law.
In 2011, the Board convened 9 times and the attendance rate was 98%.