Management and Owners of Matkahuolto
Management and Owners of Matkahuolto
Matkahuolto is owned by the Finnish Bus and Coach Association and by regional associations of private entrepreneurs and businesses engaged in professional road transport, i.e. Finnish bus and coach enterprises.
Annual General Meeting of Shareholders
The shareholders exercise their power of decision at the General Meeting. The General Meeting is convened at least once a year to deal with matters stipulated by the Limited Liability Companies Act and the company’s Articles of Association, including the election of Board members and the auditor. The Annual General Meeting is convened annually to deal with the matters required by law and the Articles of Association, including the annual accounts and the auditor’s report.
Board of Directors
The shareholders exercise their power to elect the members of the Board of Directors at the General Meeting. If necessary, the shareholders appoint from among themselves a committee to prepare the appointment of the Board members. The committee’s task is to assess the skills required for the Board of Directors based on the company’s situation and needs, and to prepare a proposal on the Board members to the General Meeting.
The Chair of the Board of Directors is independent of the company and its shareholders. The tasks and more detailed role of the Chair are set out in the Board’s Rules of Procedure.
The Board of Directors of Matkahuolto sees to the administration of the company and the proper organisation of its operations. It is responsible for the proper organisation of the company’s accounting and financial control and approves the company’s strategy.
Company management
The responsibilities and obligations of Matkahuolto’s management are determined in accordance with applicable legislation. Decision-making and administration are in accordance with the Finnish Limited Liability Companies Act and the company’s Articles of Association. The Board’s Rules of Procedure define the responsibilities between the Board of Directors and the executive management.
In addition to the CEO, the Management Team consists of ten members.
Remuneration
The shareholders decide at the General Meeting on the remuneration to be paid to the members of the Board of Directors. The Board of Directors decides on the remuneration of the company’s CEO and, on the proposal of the CEO, approves the members of the company’s Management Team and the principles to be followed in the remuneration and incentive bonuses of the staff. The remuneration of the members of the company’s Management Team is approved on a “one-over-one” basis by the Chairperson of the Board of Directors on the proposal of the CEO, in accordance with the company’s remuneration policy.
The process for determining the remuneration of senior management and the principles of staff remuneration are laid down in the Board’s Rules of Procedure. Remuneration consists of four components: financial, development, staff benefits, and community spirit and support. Incentive rewards are available to a very limited group of staff, whose remuneration criteria are approved by the Board of Directors. For the majority of staff, salaries are determined on the basis of collective agreements. The salary of staff members who are not covered by a collective agreement is determined on the basis of their duties. Salary levels and staff benefits are determined taking into account general developments in the sector and other relevant factors.