The Group Executive Team (GET) supports the CEO in managing the Company. Day-to-day operational responsibility rests with the GET members and their operation teams supported by various staff and service functions.
The decision-making bodies with responsibility for managing Stora Enso are the Board and CEO.
CEO
The CEO is in charge of the day-to-day management of the Company
in accordance with instructions and orders issued by the Board. It is the duty of the CEO to ensure that the Company’s accounting principles comply with the law and that financial matters are handled in a reliable manner.
The Board approves the main organisation, including the functions
reporting to the CEO. Currently, the CEO is directly in charge of the following functions, which also report to him/her:
- Business Areas (Packaging, Publication Paper, Fine Paper and
Wood Products);
- CFO (responsible for IT, Accounting & Controlling, Treasury, Risk
Management, Taxes, Internal Audit, Investor Relations, Corporate
Finance and M&A);
- Human Resources;
- Technology and Strategy;
- Latin America;
- Communications and Global Responsibility;
- Legal Services.
The CEO is also responsible for preparatory work with regard to Board meetings. In addition, he/she supervises decisions regarding key personnel and other important operational matters.
The CFO acts as deputy to the CEO as defined in the Finnish Companies Act.
Group Executive Team (GET)
The GET is chaired by the CEO. The GET members are appointed by the CEO and approved by the Board. Currently, the nine GET members are the CEO, the CFO, the heads of the four Business Areas, Technology & Strategy, Human Resources and Latin America.
The GET’s tasks and responsibilities are: review of key day-to-day operations and operational decisions, key leadership issues, investment proposals, planning and follow-up, control of mergers, acquisitions and divestments, preparation of strategic guidelines, sustainability policies, allocation of resources and preparatory work with regard to Board meetings. The GET meets regularly every month, and as required.
In 2010
The GET had eight members at the end of 2010. The GET convened 15 times during the year. Important items on the agenda in 2010 were reviewing the operations of the Group, planning and following up on investment and other strategic projects, and preparatory work for Board meetings.
Other responsibilities
The investment planning is carried out by the Business Areas and reviewed by the Investment Working Group, consisting of Group and Business Area representatives. The CEO and GET are responsible for the investment allocations and decisions, as well as proposals to the Board of Directors.
The GET is responsible for all policy issues relating to sustainability. Everyday sustainability issues are handled by Stora Enso’s Global Responsibility function together with the Business Areas, which are responsible for the operational management of responsibility issues. The role of the Global Responsibility function is to develop, support and follow up on Stora Enso’s sustainability strategy, and ensure that policies, targets and priorities are duly realised.
The Group R&D is responsible for the Group-level R&D projects and new businesses, as well as certain services. The Business Areas have their own R&D organisations for ongoing business development and research.
The Company has established user boards for certain cross-functional service units (Wood Supply, Purchasing, Logistics and Energy). These user boards consist of representatives of the Business Areas using these services. The user boards supervise and steer the operations of the service units in question.
The Company has also established proper disclosure policies and controls, and process for quarterly and other ongoing reporting.
