Corporate Governance Statement,
reporting period Jan. 1 – Dec. 31, 2015

Chief Executive Officer

The CEO is in charge of the operative management of the Company in accordance with the Finnish Companies Act, the Articles of Association as well as the instructions and orders given by the Board of Directors. The CEO is responsible for the preparation of the Board meetings and implementation of any decisions made therein. Further, the CEO is responsible for ensuring that the Company´s accounting methods comply with the applicable law and that the financial matters are being handled in a reliable manner. The CEO prepares strategy, long-term planning, investments, mergers and acquisitions, financing and makes decisions thereof to the extent that such decisions are not tasks of the Board of the Directors. The CEO is responsible for financial planning, the Company´s communications and investor relations.

The Board of Directors defines and approves the essential terms of the service of the CEO, including the CEO´s remuneration, in the form of a written agreement. The CEO´s service contract is effective until further notice and can be terminated by the Company with twelve (12) and the CEO with six (6) months´ written notice.

The CEO is entitled to a pension under the Contracts of Employment Act and other legislation pertaining to pensions. The Finnish employee pension system (TyEL) allows for an oldage pension based on years of service and the income accumulated during those years, including the base salary, bonuses (excluding any option rights and shares subscribed on their basis) and taxable fringe benefits. The old age pension can be taken out at one´s own discretion between the ages of 63–68 (flexible retirement age).

After having sold its Automotive business to Continental AG the Company merged its corporate functions and Wireless Business Segment´s functions on August 7, 2015. Until this, the Company´s CEO was Mr. Jukka Harju.


Hannu Huttunen

Chief Executive Officer, 2015–. b. 1966, M.Sc. (Econ.)

Positions of trust: Tekniseri Oy, Member of the Board 2012–

Previous work history: 
Elektrobit Technologies Ltd., President, Wireless Business Segment 2010-2015
EXFO Inc., Vice President, Wireless Division (previously NetHawk Oyj) 2010
NetHawk Oyj, CEO 2003–2010
NetHawk Oy, Executive Vice 
President 2002–2003...

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