juhtimisseadmega

Juhtimisseadmega, also known as the Management Code, is a legal framework in Estonia that governs the management and governance of companies. It was established to ensure transparency, accountability, and good corporate governance practices within Estonian businesses. The code applies to all companies registered in Estonia, including both public and private entities.

The Management Code outlines the roles and responsibilities of the board of directors, the supervisory board, and other key management personnel. It emphasizes the importance of independent and competent management, as well as the need for clear and effective communication between the board and the management team. The code also addresses issues related to the appointment, remuneration, and dismissal of management personnel.

One of the key provisions of the Management Code is the requirement for companies to have a supervisory board that is separate from the board of directors. The supervisory board is responsible for overseeing the activities of the board of directors and ensuring that the company's interests are protected. The code also mandates that the supervisory board should be composed of independent members who have the necessary knowledge and experience to fulfill their duties effectively.

The Management Code also includes provisions related to the disclosure of information to shareholders and the public. Companies are required to provide timely and accurate information about their financial performance, business activities, and other relevant matters. This includes the publication of annual reports and other disclosures as mandated by the code.

In summary, the Management Code is a comprehensive legal framework that aims to promote good corporate governance practices in Estonia. It sets out the roles and responsibilities of key management personnel, emphasizes the importance of independent and competent management, and requires companies to disclose information to shareholders and the public. The code plays a crucial role in ensuring transparency, accountability, and ethical behavior in Estonian businesses.