Corporate Governance ASSA ABLOY is a Swedish public limited liability company, with registered office in Stockholm, Sweden, whose Series B share is listed on the Nasdaq Stockholm. The corporate governance of ASSA ABLOY is based on the Swedish Companies Act, the Annual Accounts Act, the rules and regulations of Nasdaq Stockholm and the Swedish Code of Corporate Governance, as well as other applicable external laws, regulations and recommendations and internal rules and regulations. 2015 Corporate Governance Report has been prepared as part of ASSA ABLOY’s application of the Swedish Code of Corporate Governance. The report is audited by ASSA ABLOY’s auditor. Corporate Governance structure Shareholders’ rights to decide on the affairs of ASSA ABLOY are exercised at the General Meeting. The Annual General Meeting should be held within six months of the end of the company’s financial year. Matters considered at the Annual General Meeting include: dividend; adoption of the income statement and balance sheet; discharge of the Board of Directors and the CEO from liability; election of members of the Board of Directors and Chairman of the Board of Directors; appointment of the Nomination Committee and auditors; determination of remuneration guidelines for senior management and fees for the Board of Directors and auditors. The Nomination Committee, consisting of the major shareholders, is elected at the Annual General Meeting. The Nomination Committee has the task of preparing, among other things, the election of the members of the Board of Directors and the appointment of the auditor as well as their fees. The Board of Directors currently consists of nine members elected by the Annual General Meeting and two employee representatives, together with two deputies, appointed by the employee organizations in accordance with Swedish law. The Board of Directors is responsible for the organization and administration of the Group and for ensuring satisfactory control of bookkeeping, asset management and other financial circumstances. The Board of Directors has a Remuneration Committee and an Audit Committee. The purpose of these Committees is to deepen and streamline the work of the Board of Directors and to prepare matters in these areas. The CEO is responsible to the Board of Directors for the day-to-day management of the company. The Executive Team of ASSA ABLOY consists of the CEO, the heads of the Group’s divisions, the Chief Financial Officer and the Chief Technology Officer. ASSA ABLOY’s operations are decentralized and divided into five divisions: EMEA, Americas, Asia Pacific, Global Technologies and Entrance Systems. ASSA ABLOY’s auditor is appointed at the Annual General Meeting.