The Board of Directors
The Board of Directors shall consist of a Chairman and at least four but not more than six members. The Supervisory Board shall elect the chairman and Board members for one year at a time. The Board of Directors shall elect its vice-chairman from among its members.
The Board of Directors is responsible for the Company's operations and finances and shall prepare those matters which are to be dealt with by the Annual General Meeting and the meetings of the Supervisory Board. It is the duty of the Board of Directors to ensure that the decisions of the AGM and the Supervisory Board are carried out.
It is the duty of the Board of Directors to elect the members of the board of management and to determine their terms of employment. In this regard the Board of Directors shall take into account the guidelines laid down in the personnel strategy and the remuneration system, which shall accord with the Company's administrative principles.
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