THE MANAGING DIRECTOR
The Board of Directors selects the Company's Managing Director and decides on the terms of his/her employment. The Managing Director's service terms and conditions are specified in writing in the Managing Director's service contract approved by the Board.
The Managing Director is responsible for the Company's result and balance sheet.
The Managing Director is in charge of the day-to-day management of the Company in accordance with the instructions and orders given by the Companies Act, the Articles of Association and the Board of Directors. The Managing Director may undertake acts which, considering the scope and nature of the operations of the Company, are unusual or extensive, only with the authorization of the Board. The Managing Director ensures that the accounting practices of the company comply with the law and that financial matters are handled in a reliable manner.
Managing Director of the Company:
Martti Leisti
Born 1947
M.Sc. (Econ.)
- Managing Director of Julius Tallberg Real Estate Corporation since 1987 and Chairman of its subsidiaries
- Member of the Advisory Board of the Finnish Association of Building Owners and Construction Clients
- Prior to 1987 Martti Leisti worked at YIT Corporation for 10 years, 6½ of which in export management positions dealing with the Middle East and Spain.
- Direct ownership interest in Julius Tallberg Real Estate Corporation on 31 December 2007: 33,894 shares. No holdings or rights based on any equity incentive plans.
The managing director's 2007 salary and other cash compensation totaled EUR 173,776. Voluntary retirement insurance premiums paid in 2007 totaled EUR 8,500. The managing director's service contract is terminable upon 4 months notice. If the service contract is terminated by the company, the managing director will be entitled to severance pay to the amount of 12 months' salary, unless terminated for "grievous cause" within the meaning of Finland's Employment Contracts Act.
The Managing Director´s retirement age is 65 years. The pension is based on the Finnish law of Employees Pension (TEL). The Managing Director is entitled, if required by him, to retire earliest at the age of 62 years.
|
