Corporate Governance

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 members of the Board of Directors and the CEO from liability; election of members of the Board of Directors, Chairman of the Board of Directors and auditor; and fees for the Board of Directors and auditor.

The 2023 Annual General Meeting adopted the current instructions for the Nomination Committee, comprising a procedure for appointing the Nomination Committee, which apply until further notice. According to the instructions, the Nomination Committee shall be composed of representatives of the five largest shareholders in terms of voting rights registered in the shareholders’ register maintained by Euroclear Sweden AB as of 31 August the year before the Annual General Meeting. Where a shareholder declines to participate in the Nomination Committee, a representative from the largest shareholder in turn shall be appointed. If a member resigns from the Nomination Committee before the work is completed and the Nomination Committee finds it suitable, a substitute shall be appointed. Such a substitute shall be appointed from the same shareholder or, if that shareholder no longer is among the largest shareholders in terms of voting rights, from the largest shareholder next in turn. The Nomination Committee has the task of preparing, on behalf of the shareholders, proposals regarding among other things the election members of the Board of Directors and auditor as well as fees to the Board of Directors.

The Board of Directors consists of seven members elected by the General Meeting and two employee representatives, together with two deputies, appointed by the employee organizations in accordance with Swedish law. 

The Board of Directors has overall responsibility for the organization and management of ASSA ABLOY and the Group. 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 consists of the CEO, the Heads of the Group’s divisions, the Heads of the business units HID, Global Solutions, Opening Solutions Greater China and Southeast Asia and Opening Solutions Pacific and Northeast Asia, the Chief Financial Officer and the Chief Human Resources Officer.

ASSA ABLOY’s operations are decentralized. Operations are organizationally divided into five divisions: EMEIA, Americas, Asia Pacific, Global Technologies and Entrance Systems.

ASSA ABLOY’s auditor is elected by the Annual General Meeting.