Board of directors

In principle, the Board of Directors meets in ordinary session at least once every quarter and twice in the first quarter. In January, the Board reviews the Group’s estimated sales and earnings for the previous financial year, and the strategic priorities (including the Climate Strategy), business plans and the financing policy for the business segments and the Group that are presented to it for approval. In February or March, it closes off the financial statements for the previous financial year, and finalises the text of the reports and draft resolutions to be submitted by the Board to the Combined Annual General Meeting. In April or May, it closes off the first-quarter financial statements. In July or August, it closes off the first-half financial statements. In October or November, it closes off the nine-month financial statements. Other Board meetings are held as the Group’s business requires.

Key figures

50%

independent directors*

58%

of Board members are women**

8.9 years

average seniority of directors

56.6

average age of directors

7

directors with CSR/Climate experience

9

directors with international experience

At 31 December 2025

* Excluding directors representing employees and employee shareholders.
** Including directors representing employee shareholders and excluding directors representing employees in line with the new provisions introduced by the Order of 15 October 2024 transposing the EU Women on Boards Directive.

Articles of association (pdf)
Rules of procedure of the board of directors (pdf)