ASSA ABLOY Group | Corporate Governance

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 Nasdaq Stockholm Rule Book for Issuers and the Swedish Corporate Governance Code, as well as other applicable external laws, rules and regulations, and internal rules and regulations.

2017 Corporate Governance Report has been prepared as part of ASSA ABLOY’s application of the Swedish Corporate Governance Code. 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 and auditors; determination of remuneration guidelines for senior management and fees for the Board of Directors and auditors.

The Annual General Meeting 2018 has adopted an instruction for the Nomination Committee, including a procedure for appointment of the Nomination Committee which applies until further notice. Pursuant to this instruction the Nomination Committee shall be composed of representatives of the five largest shareholders in terms of voting rights as of August 31 the year before 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 election of the auditor as well as their fees.

Since the Annual General Meeting 2018 the Board of Directors consists of eight 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.

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