The Group Leadership Team (GLT) supports the CEO in managing the Company.
Day-to-day operational responsibility rests with the GLT 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.
The CEO is in charge of the day-to-day management of the Company in accordance with the Finnish Companies Act and the 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. At the end of 2019 the CEO was directly in charge of the following functions, which also reported to her:
• Divisions* (Consumer Board, Packaging Solutions, Biomaterials, Wood Products, and Paper)
• CFO (responsible for Accounting, Controlling, Corporate Finance and M&A, Efora, Energy Services, Investment Process, Enterprise Risk Management, Internal Audit, Investor Relations, Tax, Treasury)
• Human Resources
• Legal, General Counsel
• Sourcing and Logistics
• CEO Office (responsible for Wood Supply*, innovation and R&D, and special strategic projects)
The CEO is also responsible for preparatory work with regard to Board meetings. In addition, the CEO supervises decisions regarding key personnel and other important operational matters. One of the GLT members acts as deputy to the CEO as defined in the Finnish Companies Act.
* As of 1 January 2020 the Wood Supply organisation will function under Stora Enso’s new Forest Division, starting separate segment reporting as a Division as of this date. As of 1 January 2020 the Division Consumer Board will be named Packaging Materials.
Group Leadership Team (GLT)
The GLT is chaired by the CEO. The GLT members are appointed by the CEO and approved by the Board. At the year end 2019, the eleven GLT members were the CEO, the CFO, the heads of the divisions, HR, Legal (who is also General Counsel), Communications, Sustainability, and Sourcing and Logistics.
The GLT assists the CEO in supervising the Group and divisional performance against agreed targets, portfolio strategy, ensuring the availability and value-creating allocation of Group funds and capital, and statutory, governance, compliance and listing issues and policies.
The GLT meets regularly every month, and as required.