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The Finnish Executive Search Firms

Rules of FEX Executive Search Firms Association (FEX Suorahakuyritykset ry)

§1 NAME AND DOMICILE

The name of the association is FEX Suorahakuyritykset ry, hereinafter referred to as the Association. The abbreviation FEX may also be used.
In international contexts, the English name is The Finnish Executive Search Firms' Association FEX. The Association is domiciled in Helsinki and operates nationwide.

§2 PURPOSE

The Association consists of management consulting firms permanently operating in Finland and specializing in executive search. The Association operates without seeking direct financial benefit for its members. Its purposes are to:

  • Develop, promote, and supervise the activities of executive search firms

  • Maintain relations with legislative and regulatory authorities

  • Engage with other business organizations, institutions, and the media

  • Contribute to the development of professional practices in executive search

  • Represent the professional interests of its members and enhance the industry's reputation

  • Serve as a link between members for exchanging experiences and deepening expertise

  • Exchange knowledge internationally with similar organizations and experts

§3 METHODS OF OPERATION

To fulfill its mission, the Association:

  • Organizes industry-related meetings, training events, and information sessions

  • May conduct research, publish materials, provide statements, and make proposals to authorities and organizations

  • May join domestic and international organizations that support its goals

  • Maintains an officially approved set of operational principles

  • May grant scholarships or funds for research and communication relevant to executive search and management consulting

  • May accept donations, legacies, and own movable and immovable property

§4 MEMBERSHIP

The Board may admit as a member a reputable firm where at least ¾ of its revenue comes from executive search, or a business unit meeting all membership criteria.

Membership criteria require at least three years of experience in the field. If the firm's responsible individuals have three years of experience, this period may be reduced.

Applicants must demonstrate appropriate facilities, competent staff, and up-to-date documented processes suitable for professional executive search, and provide financial details upon request.

Applicants are presented with the Association's rules, operational principles, and professional recommendations, which they must commit to.

Membership rights, obligations, and possible sanctions are detailed in §13.

Use of Association Emblems
Member firms and their consultants may use FEX logos in print and digital communications.

Resignation
A member wishing to resign must notify the Board in writing.

Expulsion
The Board may expel a member who fails to meet obligations or repeatedly acts against industry laws, FEX rules, ethical guidelines, or operational principles.

Resigned or expelled members lose the right to use FEX emblems.

Before expulsion, the member has the right to respond and request a general meeting decision within one month.

§5 MEMBERSHIP FEES

The annual general meeting decides the joining and annual fees. Members who fail to pay the fee after a reminder may be expelled by Board decision. Fees already paid are not refunded.

§6 BODIES OF THE ASSOCIATION

The Association's decision-making power lies with the general meeting. Its affairs are managed by the Board.
The Board may establish an Ethics Committee, including one external expert.
It may also form working groups, appoint representatives, or hire personnel.

§7 GENERAL MEETINGS

The annual general meeting is held before the end of March.
Extraordinary meetings may be convened by the Board or at the request of at least 1/10 of voting members. The meeting must be held within 30 days of such a request.

Each member has one vote. Decisions are made by simple majority. If votes are tied, elections are decided by lot; other matters are decided by the chair's opinion.

§8 MEETING NOTICE

Members are invited to meetings by email at least 14 days in advance.
The notice must include the agenda.
Proposals must be submitted to the Board at least 10 days before the meeting.

§9 ANNUAL GENERAL MEETING AGENDA

The following are handled at the annual general meeting:

  1. Opening of the meeting

  2. Election of chair, secretary, two minute-checkers, and if needed, two vote counters

  3. Verification of legality and quorum

  4. Approval of the agenda

  5. Presentation of financial statements, annual report, and auditor's report

  6. Decision on approval of the financial statements and discharge of the Board and accountable parties

  7. Approval of the action plan, budget, and membership fees

  8. Election of the Chair and Board members

  9. Election of an auditor and a deputy

  10. Other matters included in the meeting notice

§10 THE BOARD

The Board consists of the Chair and 3–5 other members elected at the annual meeting.
The term lasts until the next annual meeting. The Board appoints a secretary, treasurer, and other needed roles from among its members.

The Board meets at the Chair's call or upon request of at least one member.
A quorum requires the presence of at least half the Board members. Decisions are made by majority vote. In the event of a tie, the Chair decides.

The Board's duties include:

  • Calling general meetings and preparing agendas

  • Executing decisions of general meetings

  • Managing funds and assets

  • Handling member applications and resignations, maintaining the member register

  • Representing the Association

  • Making commitments and representing in legal matters

  • Maintaining operational principles

  • Managing bookkeeping and preparing financial statements

  • Drafting budgets and action plans

  • Overseeing publications and communications

  • Liaising with domestic and international organizations

  • Recruiting and compensating necessary personnel

§11 SIGNING ON BEHALF OF THE ASSOCIATION

The Association's name is signed jointly by two Board members, one of whom must be the Chair or Treasurer.
The Board may authorize an employee to sign alone.

§12 FISCAL YEAR

The fiscal year is the calendar year. Financial statements and the Board's annual report must be submitted to the auditor two weeks before the annual meeting.
The auditor must submit a written report one week before the meeting.

§13 MEMBER OBLIGATIONS

Members must support the Association's goals, follow its professional guidelines, maintain confidentiality, honor agreements, and remain objective.

Company management must supervise staff to meet ethical and professional standards.

If a member firm undergoes major changes reducing the executive search share of its business, it must inform the Board.

Each member must designate a contact person and notify the Board of any change.

§14 AMENDMENTS AND DISSOLUTION

Changes to the rules or dissolution of the Association require a ¾ majority at a general meeting. The agenda must mention the proposal.

In case of dissolution, assets are to be used to support research in business leadership and organizational studies.