The Board's overall task is to manage the company's affairs and be responsible for the company's organisation on behalf of shareholders.
The Board's work is led by the Chairman of the Board. The Board holds an annual statutory meeting following the annual general meeting of shareholders. In addition to this, the Board is scheduled to meet at least five times annually. Appointments at the statutory Board meeting include the Chairman of the Board and the Company's signatories.
Furthermore, the Board's formal work plan, the terms of reference for the CEO and the instructions regarding financial reporting to the Board are reviewed and adopted. The company's Board meetings address the company's financial situation, progress in negotiations and issues pertaining to directly and indirectly held subsidiaries and associated companies. The Company's auditor attends and reports at the Board meetings when necessary. The Board forms a quorum when more than half of the members are present. At present, Volati's Board consists of seven members.