The President and CEO assumes independent responsibility for the Group’s daily operations, in line with the following duties, for example:
- ensuring the Company’s accounts comply with the law and its financial affairs have been arranged in a reliable manner
- managing the Group’s daily operations in line with the long-term goals and business strategy of the Group approved by the Board and in accordance with the general policies adopted by the Board and other applicable guidelines and decisions
- deciding on acquisitions and divestments, as well as financial matters and investments, which have a value exceeding EUR 0.5 million but below EUR 5.0 million or relate to the divestment, lay-off or termination of employment of more than 50 but fewer than 100 employees
- preparing decision proposals and matters for information for the meetings of the Board (together with the Chairperson of the Board and/or the Executive Committee) and presenting these matters and the agenda to the Board and its Committees
- approving Group-level standards
- chairing Sanoma’s EMT.
The President and CEO may take extraordinary or wide-ranging actions only under separate authorisation from the Board, or when the time delay involved in waiting for a decision from the Board would cause substantial losses to Sanoma.
Susan Duinhoven has served as the President and CEO of Sanoma Corporation since 1 October 2015.
The President and CEO Susan Duinhoven’s period of notice is six months either from the President and CEO’s or the Company’s part. If the executive contract is terminated by the Company, a severance payment equalling to 12 month’s salary in addition to the salary for the notice period will be paid to the President and CEO. The severance pay is accompanied by a fixed-term non-competition clause.