Board of Directors

The principal duty of the Board of Directors is to adopt Nixu Corporation’s strategy and to monitor its implementation to ensure that it enables the achievement of financial targets and maximizes the shareholder value in the long run, while taking into consideration corporate social responsibility and various stakeholders.

The Company’s Board of Directors operates in accordance with the applicable laws and its Articles of Association. The operations of the Board of Directors are governed especially by the Finnish Limited Liability Companies Act and the Finnish Securities Markets Act as well as by orders, guidelines and recommendations issued by public authorities and Nasdaq Helsinki Ltd (the “Helsinki Stock Exchange”). The Board of Directors also abides by the Corporate Governance Code issued by the Finnish Securities Market Association.

Charter of the Board of Directors

Audit Committee

The role of the Audit Committee is, among other things, to monitor the company's financial reporting process and the effectiveness of internal control, internal audit and risk management systems. On April 30, 2020, Nixu Corporation's Board of Directors elected from among its members Tuija Soanjärvi as Chair and Marko Kauppi and Anders Silwer as members of the Audit Committee.

Personnel and Remuneration Committee

Nixu Corporation’s Board of Directors established on April 30, 2020 the Personnel and Remuneration Committee, which assist the Board of Directors in particular handling and preparing personnel and remuneration matters. Nixu's Board of Directors elected from among its members Kati Hagros as Chair of the Personnel and Remuneration Committee, and Jaya Baloo and Kimmo Rasila as members.

Independence

The  members  of  the  Board  of  Directors:  Marko  Kauppi, Jaya Baloo, Kati Hagros, Tuija Soanjärvi, and Anders Silwer are considered independent of the Company and its major shareholders. Kimmo Rasila is considered independent of the Company's major shareholders but not independent of the Company.

Insider holdings