Board of Directors

In accordance with the Swedish Companies Act, 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 decides on the Group’s overall objectives, strategies, significant policies, acquisitions and divestments as well as investments of major importance. Acquisitions and divestments with a value (on a debt-free basis) exceeding SEK 200 M are decided by the Board of Directors. This amount presumes that the matter relates to acquisitions or divestments in accordance with the strategy agreed by the Board of Directors.

The Board of Directors approves the Annual Report and Interim Reports, proposes dividend and remuneration guidelines for senior management to the Annual General Meeting, and makes decisions concerning the Group’s financial structure. 

The Board of Directors’ other ongoing duties include:

  • appointing, evaluating and if necessary dismissing the CEO,
  • approving the CEO’s significant assignments outside the company,
  • establishing appropriate guidelines to govern the company’s conduct in society with the aim of ensuring long term value-creating capability, 
  • ensuring that appropriate systems are in place for monitoring and control of the company’s operations and the risks for the company associated with its operations,
  • ensuring that there is satisfactory control of the company’s compliance with laws and other regulations relevant to the company’s operations, and its compliance with internal guidelines, and
  • ensuring that external information provided by the company is transparent, accurate, relevant and reliable.

The Board of Directors’ rules of procedure, including instructions for the CEO and instructions relating to financial reporting and internal control, are updated and adopted at least once a year.

In addition to organising and leading the work of the Board of Directors, the Chairman’s duties include maintaining contact with the CEO to continuously monitor the Group’s operations and development. The Chairman should consult the CEO on strategic issues and represent the company in matters concerning the ownership structure. The Chairman should also, when necessary, take part in particularly important external discussions and, in consultation with the CEO, in other matters of particular significance. The Chairman should ensure that the Board receives satisfactory information and documentation to enable it to conduct its work, and ensure that Board decisions are implemented. In addition, the Chairman should ensure that the work of the Board of Directors is evaluated annually, and that new members of the Board of Directors receive appropriate training.

The Board of Directors has at least four scheduled meetings and one statutory meeting per year. A scheduled meeting is always held in connection with the company’s publication of its Year-end Report and Interim Reports. At least once a year the Board of Directors visits one of the Group’s businesses, combined with a board meeting. In addition, extraordinary board meetings are held when necessary. All meetings follow an approved agenda. Prior to each meeting, a draft agenda, including documentation, is provided to all members of the Board of Directors.

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 members of the Committees are appointed annually by the Board of Directors at the statutory board meeting. Instructions for the Committees are included in the Board of Directors’ rules of procedure.