Gorporate Governance

Board of Directors

The Board of Directors, which comprises 5–7 members elected by the Annual General Meeting, is responsible for the administration and appropriate organisation of Biohit’s business operations. Proposals concerning membership of the Board of Directors are prepared by the Board of Directors. The Board of Directors elects a chairman from amongst its members.

A person elected as a member of the Board of Directors must have the required qualifications for the position, and the possibility to devote sufficient amount of time to perform the assignment. The majority of board members must be independent of the company's significant shareholders. The board of directors evaluates the independence of the directors. Each director shall provide the board of directors with sufficient information so as to allow the board of directors to evaluate his/her independence. Each director shall also notify the board of directors of any changes in factors that may affect his/her independence and express his/her own opinion of his/her independence.

Biohit has defined the principles applying to diversity within the Board of Directors in accordance with recommendation 9 of the corporate governance code. Biohit’s objective is for both sexes to be represented on the company’s Board of Directors. In line with this objective, the Board of Directors has members of both sexes.

Board members’ terms of office run from the date of their election by the AGM until the end of the next AGM.

Duties of the Board

The Board is responsible for the administration and appropriate organisation of Biohit’s business operations. The Board’s areas of responsibility are stated in the written rules of procedure approved by the Board. They are as follows:

Increasing shareholder value
Ensuring the appropriate organisation of accounting and financial management
Approving Biohit Oyj's financial statements, consolidated financial statements and the Report of the Board of Directors for the most recent financial period
Approving the half year financial report annually for the period ending at the end of June
Deciding on Biohit’s business plan, budget, and investment plan
Deciding on Biohit’s financing and risk management policies
Approving the remuneration and incentive schemes for senior managers
Appointing the President & CEO
Deciding on Biohit’s strategy, organisational structure, investments, and other widereaching and significant issues

The Board’s decision-making is based on reports prepared by the company's operative management on the operational development of the Group and its business units.

Board meetings and self-assessments

The chairman of the Board is responsible for convening Board meetings and arranging the work of the Board. The Board convenes 10–12 times per year, usually meeting once every month or once every two months, and the meeting schedule for the entire term is confirmed in advance. When necessary, Board meetings are held more frequently or by teleconference.

The Board evaluates its operations and working methods once a year. The assessment is carried out as a self-assessment and the assessment is handled at the Board meeting.

The company's Board decides on the internal division of tasks in such a way that the specialized skills and experience of the board members are utilized in the best possible way.

The scope of the Biohit Oyj’s business does not require the appointment of a separate Audit Committee, and consequently no separate committees have been appointed to increase the efficiency of the Board.

Board members

Vesa Silaskivi, born 1966

Ph.D (Jur.), University of Helsinki
Member of the Board and Chair of the Board since 2023

Independent of the company and major shareholder

Background add

Other relevant experience

2016 - Board member & Executive Advisor in various companies
2004−2016 Managing Partner, M&A -partner, HPP Attorneys Ltd
2001−2003 Executive Vice President, Chief Financial Officer, Elisa Plc
2000−2001 Senior Vice President, Corporate Planning, Elisa Communications Plc
1997−2000 Senior Vice President, Valio Ltd, Corporate Planning, (incl. ITC, BI, Reg.)
1995−1997 Vice President, Valio Ltd, EU-Affairs, Belgium
1991−1995 Corporate Counsel, Valio Ltd, Legal Counsel, Valio International

More than 25 years of experience in international business in various industries, especially in managing and developing companies and their global supply chains through digitalization and innovation
Teknos Group Oy: Deputy CEO, COO, Head of Group Operation and Logistics, 2016 – 2020
Fazer Confectionery Ltd: Vice President Supply chain & sourcing, 2013 – 2016
Sartorius Biohit Liquid Handling Oy, part of Sartorius Lab Holding GmbH: Vice President, Liquid Handling Operation, 2012 – 2013
Biohit Oyj: Chief Operational Officer (COO), 2001 – 2012