Corporate governance at Lehto Group Plc is based on the laws in force and the Company’s Articles of Association. Lehto Group complies with the rules and regulations of Nasdaq Helsinki Ltd and with the recommendations of the Finnish Corporate Governance Code 2020. The Corporate Governance Code is available in its entirety on the website of the Securities Market Association at www.cgfinland.fi.
As provided by the comply or explain principle of the Corporate Governance Code, the Company departs from the Corporate Governance Code’s recommendation concerning the composition of the Board of Directors (recommendation no. 8) – currently both genders are not represented in the Board of Directors of the Company as recommended by the Corporate Governance Code.
The departure is due to a single board member elected in the Company’s Annual General Meeting 2023 resigning from her position in the middle of her term of office. The departure is temporary and will be corrected once the Board of Directors to be elected in the Annual General Meeting 2024 takes office.