The Finnish Companies Act, securities markets legislation, the rules of the Nasdaq First North Growth marketplace, the company’s Articles of Association and other regulations applicable to the company are followed in the decision-making and governance of Betolar.
The company does not comply with the corporate governance code published by the Securities Market Association, which is voluntary for companies in the First North Growth Market. The company does not consider it justified in view of the company's size and scope of business.
In accordance with the Finnish Companies Act and the company’s Articles of Association, the governance and management of the company is divided between shareholders, the Board of Directors and the CEO. The Management Team assists the CEO in the daily management of the company’s operations.
According Betolar’s Articles of Association, the Board of Directors consists of at least three (3) and at most eight (8) members. The term of office of members of the Board of Directors commences at the closing of the General Meeting electing them and ends at the close of the next Annual General Meeting of Shareholders following their election. The duty of the Board of Directors is to oversee the administration of the company and ensure the appropriate organisation of the company’s operations. The company’s Board of Directors appoints the CEO and decides on the terms and conditions of the CEO’s service, which have been defined in an executive contract in writing.