Fennovoima's corporate governance is based on transparency and shared responsibility as leadership, administration, finances and other operations. The shareholders' General Meeting has the ultimate responsibility for the company. The Annual General Meeting elects nine regular members and three alternate members as the Board of Directors for a term of a year. The company is headed by CEO, assisted by the Management Team.
Fennovoima's organizational structure, responsibilities and activities are built with the Nuclear Energy Act and other companies binding laws and regulations. Fennovoima's operations are divided into sections, each headed by a member of the Executive Committee. He, in turn, will report to the CEO. The Board of Directors ensures that the CEO takes care of his obligations and responsibilities in accordance with the rules and regulations applicable to the company and works for its best. Fennovoima's organizational structure is presented in the figure below.
Structure of Fennovoima’s organization in 2014–2017.
At the moment Fennovoima’s operations focus on the supervision of plant design, quality and project management, and the application of various permits and licenses. The largest department in Fennovoima’s organization in this phase is be the project department, with the nuclear safety and quality departments closely supporting it. The Project Execution Committee appointed by Fennovoima’s Board of Directors supports the project management and supervises the progress of the project, identifies targets for development and monitors the achievement of project objectives.
Project organization in the licensing phase in 2014–2017.
During the construction phase, where the focus shifts from planning to the execution of the project, the structure of Fennovoima’s organization is planned to remain roughly the same as in the licensing phase. Particular areas of emphasis within Fennovoima’s organization include the expertise required for the supervision of construction work and the supervision of the manufacturing and installation of equipment and systems, and the expertise on quality management and authority correspondence.