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General Meeting of shareholders
The supreme decision-making body in the company is a General Meeting of shareholders. It resolves on the issues defined for General Meetings in the Finnish Companies Act and the company’s Articles of Association. These include approving the financial statements, deciding on the distribution of dividends, discharging the company’s Board of Directors and CEO from liability for the financial year, appointing the company’s Board of Directors and auditors, and deciding on their compensation.
A General Meeting of Wärtsilä Corporation shareholders is held at least once a year. The Annual General Meeting (AGM) must be held no later than the end of June. Under the Articles of Association, an invitation to a General Meeting must be published in at least two daily newspapers chosen by the Board of Directors and commonly distributed in Finland, no earlier than two months and no later than one week prior to the date determined in the Finnish Companies Act. Wärtsilä also publishes its invitations to General Meetings as stock exchange announcements and on its internet website. Shareholders are, according to the law, entitled to have any matter concerning the company’s business and falling within the scope of a General Meeting considered by the Meeting if he or she submits such a request in writing to the Board of Directors early enough for the matter to be included in the notice of meeting.
The Annual General Meeting in 2008 was held on 19 March. The decisions of the AGM can be found here.
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