The work of the Board of Directors

The work of the Board of Directors follows the rules of procedure adopted by the Board of Directors, which provide the framework for decisions regarding investments, financing, financial reports and other matters of a strategic nature. The rules of procedure also govern the undertakings of the Board of Directors and the President and the allocation of duties between the Board and the President. The relevance and validity of the rules of procedure are reviewed each year.

According to the Companies Act, the Board of Directors has overall responsibility for the Group’s organization and management and for ensuring that control of the accounting records, management of funds and financial circumstances in general are satisfactory. The Board of Directors reaches decisions in matters regarding overall aims, strategic orientation and policies of the Group as well as more important issues regarding financing, acquisitions, divestments and investments.

The Board of Directors other duties

Other duties which are incumbent on the Board of Directors include the following:

  • Continuously following up and assessing the Company’s financial situation and business development.
  • Continuously evaluating the Company’s operative management and the work of the President.
  • Ensuring that there is satisfactory control of the Company’s compliance with laws and other rules and evaluating continuously the Company’s systems for internal control and risk management.
  • Adopting the Company’s ethical guidelines.

The Chairman of the Board

The Chairman of the Board leads the work of the Board of Directors and has ongoing contact with the President to follow the Group’s operations and development continuously. The Chairman of the Board consults with the President on strategic matters and represents the Company in ownership matters.

The Chairman of the Board also ensures that the work of the Board is evaluated once a year and that new Board members receive appropriate training. The Board also evaluates the work of the President although without the person in question being present.

 

Name Function Attendence1) Independent in relation to the Company Independent in relation to the owners
Fredrik Lundberg Chairman 6 Yes No
Cleas Boustedt   7 Yes No
Peter Egardt   7 Yes Yes
Liv Forhaug   7 Yes Yes
Louise Lindh   7 Yes No
Fredrik Persson   7 Yes Yes
Sten Peterson   7 Yes No
Anna-Greta Sjöberg   7 Yes Yes
Ivo Stopner President 7 No (employee) Yes

1) Seven board meetings were held during the year, of which five were held after the Annual Meeting.