newstodate.aero
Mar 16, 2012 (newstodate): A critical spotlight has been cast on the board of Finnair.
The Finnish state holds 55.8 percent of the stake in the carrier, and minister Heidi Hautala, responsible for Ownership Steering in the Prime Minister's Office, has assigned the senior financial counselor to convene the carrier's Shareholders' Nomination Committee as soon as possible, and to prepare a new proposal concerning the composition of Finnair's Board of Directors.
-The minister believes that Board members who in autumn 2009 participated in decision-making concerning management's special retention bonuses will not be able to credibly serve as Finnair Board members in the future, says a Finnair statement.
The bonuses should reflect positive results achieved by the management - but while bonuses remain, positive results have not surfaced, and a thorough reshuffling of the management seems to be around the corner.
In addition, the carrier's CEO is also involved in a critical case concerning real estate, now under investigation.
As a result of the ministry's intervention, six of eight board members are expected to be sacked.
The Finnish state holds 55.8 percent of the stake in the carrier, and minister Heidi Hautala, responsible for Ownership Steering in the Prime Minister's Office, has assigned the senior financial counselor to convene the carrier's Shareholders' Nomination Committee as soon as possible, and to prepare a new proposal concerning the composition of Finnair's Board of Directors.
-The minister believes that Board members who in autumn 2009 participated in decision-making concerning management's special retention bonuses will not be able to credibly serve as Finnair Board members in the future, says a Finnair statement.
The bonuses should reflect positive results achieved by the management - but while bonuses remain, positive results have not surfaced, and a thorough reshuffling of the management seems to be around the corner.
In addition, the carrier's CEO is also involved in a critical case concerning real estate, now under investigation.
As a result of the ministry's intervention, six of eight board members are expected to be sacked.