VR Group is owned entirely by the Finnish state. Control is held by an ownership steering unit that is a part of the Prime Minister’s Office.
The parent company of the Group is VR-Group Ltd, with a total of 11 companies belonging to the Group. The number of associated companies is 10.
The supervisory board of VR Group monitors that the company’s operations are managed according to sound business principles and considering profitability, as well as following the decisions of the general meeting.
The supervisory board gives the board of directors instructions on matters that are far-reaching and important in principle, processes economic and annual plans and gives the general meeting a statement on the financial statement and auditor’s report. It also decides on matters related to a significant decrease or increase in operations or an essential change in the group’s organisation.
Board of directors
VR-Group Ltd’s board of directors manages the group’s administration and the appropriate organisation of activities, appoints and dismisses managing directors and vice managing directors and defines their salaries as well as prepares the matters that will be handled in the general meeting and supervisory board.
In addition, the board of directors takes care of the other administrative tasks that belong to the board of directors according to the Companies Act, unless they have been separately reserved for the supervisory board or entrusted to the managing director.
VR Group Management Team handles the strategic and otherwise significant matters affecting VR Group, as well as its most important daily functions and operational decisions.
The Management Team generally convenes once a week, and the President and CEO of VR-Group Ltd acts as its chairperson.
The President and CEO is responsible for managing the Group's day-to-day administration in accordance with the instructions and orders issued by the Board of Directors. The board of directors selects and dismisses the managing director and decides on their salary.