Sampo plc complies with applicable legislation as well as the rules of Nasdaq Helsinki and Stockholm. Sampo plc also complies, in full, with the Finnish Corporate Governance Code 2020 issued by the Securities Market Association.
Governance in Sampo plc
The General Meeting is the highest decision-making body of Sampo plc. The Board of Directors, elected annually by the Annual General Meeting, uses the highest decision-making power in Sampo Group between the AGMs. The Group CEO, appointed by the Board of Directors, is supported by the Group Executive Committee.
Annual General Meeting
Sampo plc's Annual General Meeting 2024 will be held at the Helsinki Expo and Convention Centre on 25 April 2024.
Governance structure and steering system
Sampo's governance is based on a clear division of duties between general meetings, the Board of Directors and the executive management. The Articles of Association define the general principles of division of powers between the key corporate organs. In addition, Sampo plc provides the subsidiaries with a framework of general principles.
The Finnish Companies Act requires that every Finnish limited liability company has its own Articles of Association. The Articles of Association define, among other things, the business area of the company and the scopes of competences and general principles of division of powers between key corporate organs (i.e. General Meeting, Board of Directors and Managing Director).
Sampo Group's general governance is built on an operation model where Sampo plc, as the parent company of the Group, provides subsidiaries with a framework of general principles within which the parent company expects the subsidiaries to organise and carry out their businesses. These principles are manifested in Sampo Group's Code of Conduct, Risk Management Principles, Remuneration Principles and Compliance Principles, which form the core of Sampo Group's internal governance framework.
On the basis of and in compliance with the groupwide framework, each subsidiary defines and implements a company specific governance and risk management framework (including e.g. capitalisation targets, profit targets, authorisations with risk limits, remuneration policies and other guidelines and instructions), which steers, limits and controls all operations, especially risk taking.
Sampo complies, in full, with the Finnish Corporate Governance Code 2020 approved by the Securities Market Association on 19 September 2019, which became effective from 1 January 2020 (the “CG Code”). The Remuneration Report prepared in accordance with the new CG Code was published first time for the financial year starting on 1 January 2020.