Pursuant to the provisions of the Finnish Limited Liability Companies Act and the Articles of Association of Amer Sports the responsibility for the control and management of Amer Sports is divided between the General Meeting of shareholders, the Board of Directors and the President and CEO. Shareholders participate in the control and management of Amer Sports through resolutions passed at General Meetings of shareholders, which convene upon notice given by the Board of Directors. In addition, General Meetings of shareholders may be held if requested in writing by an auditor of Amer Sports or by shareholders representing at least one-tenth of all the outstanding shares of the Company.
Amer Sports’ shares are listed on the Nasdaq Helsinki Stock Exchange. In addition, Amer Sports has a Level I American Depositary Receipt (“ADR”) program. The ADRs are traded over-the-counter in the United States. Two depositary receipts are equivalent to one Amer Sports share.
Corporate Governance Statement
In its decision making and administration, Amer Sports Corporation (hereinafter referred to as “Amer Sports” or “the Company”) applies the Finnish Limited Liability Companies Act, the Finnish Securities Markets Act and the rules issued by the Nasdaq Helsinki Stock Exchange, Amer Sports’ Articles of Association, and the Finnish Corporate Governance Code 2015 for listed companies. Amer Sports complies with the code without exceptions. The code is published at www.cgfinland.fi.
The Audit Committee of the Board of Directors has reviewed the Corporate Governance Statement and the auditor Ernst & Young Oy has verified that the Statement has been issued and that the description of the main features of the internal control and risk management systems pertaining to the financial reporting process is consistent with the financial statements.