Annual report 2016

President and CEO and other management, December 31, 2016

President and CEO and other executives are presented on a separate page.

Nikolay Voinov served as the President of Itella Russia and as a member of the Executive Board until October 31, 2016. Martin Nilsson, CFO, Itella Russia, served as the intermediate President of Itella Russia until January 1, 2017.

President and CEO

The President and CEO is responsible for the Group’s operative management in accordance with the Companies Act and the instructions and directions issued by the Board of Directors. The President and CEO is appointed and, if necessary, dismissed by the Board of Directors, which also determines the terms and conditions of the President and CEO’s employment relationship.

Heikki Malinen, M.Sc.(Econ.), MBA, has served as President and CEO of Posti Group Corporation since December 11, 2012.

Executive and Management Boards

The Posti Group Executive Board assists the President and CEO in matters relating to business control and development and coordinates Group management. It also prepares matters for consideration of the Board of Directors. The most essential matters considered in the Executive Board are the Group’s strategy and annual planning, financial and sales planning and follow-up, business development and other business-related investments. The Executive Board is not a decision-making body, but the matters considered by it are either further considered in Posti Group Corporation’s Board of Directors or implemented with the CEO’s authorization.

In addition, Posti Group also has a Management Board. The duties of the Management Board are connected with the management, development and follow-up of Group-wide functions and internal services on various levels. The Management Board is not a decision-making body, but the matters considered by it are further discussed in Posti Group Corporation’s Board of Directors or implemented with the CEO’s authorization.

Both the Executive and Management Board are chaired by the President and CEO.

The Chief Financial Officer’s main areas of responsibility include group control, treasury, investments, project financing and taxation. The Senior Vice Presidents heading the businesses are responsible for the sales volumes and profitability of their respective businesses. The Managing Director of Itella Russia is responsible for the group’s Russian businesses and operations. The Senior Vice President, Operations, is responsible for the management and development of the Group’s homeland operative functions. The Senior Vice President, ICT and Digitalization, is responsible for the development of digitalization processes within the group and for the effective management of ICT resources. The main responsibility of the Senior Vice President, Strategy, is the development, alignment and implementation of the group-wide strategy. The Senior Vice President, Human Resources, is responsible for people related processes.

The members of the Management Board are the Directors and Officers of the group’s vital support functions, and each are responsible for the effective management and development of their respective functions. The Personnel Representative participates in the work of the Management Board.

Rewarding

The General Meeting of Shareholders annually decides on the compensations to be paid for work in the Board of Directors and its Committees and the determination criteria of the remuneration.

The Board of Directors is responsible for deciding the remuneration of the President and CEO and for approving the remuneration of the direct subordinates of the President and CEO.

The President and CEO’s benefits are described on Posti’s website at www.posti.com/corporategovernance.

The remuneration statement and other information related to the Corporate Governance Code are available at www.posti.com/corporategovernance.