Risk management

Foamit endeavors to actively detect and identify risk factors that could have a negative impact on achieving the company’s objectives in the long or short term, as well as to launch the necessary measures to manage the detected risk factors. Risk management on the level of owned entities is crucial to Foamit’s risk management, and it is primarily organized by the subsidiaries. Foamit strives to promote risk management through active control and participation in the work of the target companies’ Board of Directors.

The principles of Foamit’s risk management have been recorded in the group’s risk management policy. The risk management policy includes, among other things, the definition and categorization of risk, the principles of risk management, roles and responsibilities, and the principles of risk mapping and reporting. Operative companies apply Foamit’s risk management policy, and the companies’ Boards of Directors monitor the functioning of risk management actively. The Boards of Directors of subsidiaries are responsible for identifying and evaluating risks, as well as taking risk management measures.

In Foamit Corporation, the group’s CFO is responsible for developing the risk management and risk reporting framework, and the CFO will also support the implementation of subsidiaries’ risk management through their activities.