Board Committees

The Board is assisted by the Audit Committee and the Nomination and Compensation Committee. The committees were first formed in 2004.

The Audit Committee

The Board appoints the Audit Committee. The Purpose of the Audit Committee is to oversee accounting and financial processes, financial statements and internal control. The tasks and responsibilities of the Committee are defined in a  Charter, (available at www.konecranes.com), which is based upon a Board resolution as part of the Company's corporate governance principles.

Members of the Audit Committee:

Mr. Svante Adde , Chairman
Mr. Kim Gran , member
Mr. Matti Kavetvuo , member 
Mr. Mikael Silvennoinen, member (as of March 8, 2008) 

In 2007, the Audit Committee convened four times. According to its Charter, the Audit Committee shall meet at least twice a year. The Chairman presents a report on each Audit Committee meeting to the Board.


The Nomination and Compensation Committee

The Board appoints the Nomination and Compensation Committee. The tasks and responsibilities of the Committee are defined in a  Charter, which is based upon a Board resolution as part of the Company's corporate governance principles.

Members of the Nomination and Compensation Committee:

Mr. Björn Savén, Chairman
Mr. Stig Gustavson, member
Ms. Malin Persson, member
Mr. Timo Poranen, member

In 2007, the Nomination and Compensation Committee convened three times. The Nomination and Compensation Committee shall meet at least once a year. The Chairman presents a report on each Compensation Committee meeting to the Board.