​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​The financial support and control function for the Board


Tetra Laval International (TLI) is the financial support and control function for the Board. This includes responsibility for areas such as the corporate governance framework, treasury, corporate finance, leasing, insurance, financial reporting, internal audit and holdings administration. Following a reorganisation of Group functions, the scope of TLI activities also includes Group Tax from 2016 onwards. TLI manages the internal control aspects of these responsibilities by means of finance and control policies applicable throughout the Group.

TLI manages Group financing and the foreign exchange and interest rate risks of the Group within a mandate approved by the Board. This has been particularly important in the past year as macro-economic issues and increased market volatility have continued​​ to impact the global economy. In this context, the Group has demonstrated its sound risk management policies and resilience under the challenging conditions faced in a number of markets.

During the year, TLI also completed the renegotiation with its core banks of the Group’s principal borrowing facilities, ensuring continued liquidity, while providing for increased flexibility. The Group’s relationships with its banking partners remain strong, with new opportunities for mutually beneficial business being developed in areas such as equipment finance and commodity hedging.

Performance of the different businesses of the Group is monitored closely and benefits from productivity improvements are tracked to ensure sustained improvements and progress against strategies approved by the Board. Comparison to relevant external benchmarks is a key part of this analysis and the support provided to the Board in setting performance expectations.

Looking forward, the overall low growth environment demands increased focus on the performance of the different businesses, markets and segments of the Group and particular attention to the return generated on capital employed. Capital allocation is already an area of considerable Board attention and this will be strengthened further in 2016.

The team at TLI remains focused on delivering to a highly professional and effective level in each of its areas of expertise and impact on the performance of the Group.​​​​

“TLI manages Group financing and the foreign exchange and interest rate risks of the Group within a mandate approved by the Board. This has been particularly important in the past year as macro-economic issues and increased market volatility have continued to impact the global econ​omy. In this context, the Group has demonstrated its sound risk management policies and resilience under the challenging conditions faced in a number of markets.”​​

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TETRA LAVAL INTERNATIONAL MANAGEMENT

TLI management

01. Martyn Zedgitt - President

02. Marc Häfliger - Holdings

03. Robert Norris - Group Financial Planning and Reporting

04. Jörn Rausing - Mergers and Aquisitions

TLI management

05. Antoine Jomini - Audit

06. Robert Swan - Finance

07. Mark Masek - Operations

08. Tuomo Rautiainen - Tax

TLI support functions

TETRA LAVAL GROUP SUPPORT FUNCTIONS

01. Jörgen Haglind Group Communications Officer

02. Phil Read Group Human Resources Officer

These functions are responsible for their respective area throughout the Tetra Laval group.