Corporate governance

The General Meeting is ALTEO Plc.’s highest body and consists of all shareholders. The General Meeting has exclusive competence to decide on the management and operation of the Company — including, with the exception of amendments to the Articles of Association within the Board’s competence and statutory exceptions — amendments to the Articles, changes of the operating form, transformation and dissolution without legal successor of the company, election of Board and Supervisory Board members, and approval of the Company’s annual reports and statements. The Board convenes the General Meeting at least once a year.

ALTEO’s highest decision-making body is the Board of Directors, which sets the company’s business and development direction and coordinates and steers the ALTEO Group. Oversight of operations is carried out by the Supervisory Board, whose work is supported by the Audit Committee, particularly in the financial reporting system, in selecting and cooperating with the auditor.

Operational management is the responsibility of the Executive Board, which ensures efficient operation, quality service delivery, safe working conditions, and compliance with statutory and environmental requirements along the strategy. The Company’s transparent operation and financial compliance are also ensured by an independent auditor.

Under statutory requirement our Company must appoint an auditor. The auditor’s task is to carry out the audit required by the Accounting Act, to ascertain that the Company’s statements under the Accounting Act comply with the law, and that they give a reliable and true picture of the Company’s financial position, performance and results.