Board of Directors' work 2018

The Board of Directors held ten meetings during the year. Regarding attendance please refer to the table on page 51 of the Corporate Governance Report.

At the ordinary board meetings the CEO reported on the Group’s performance and financial position, including the outlook for the coming quarters. Acquisitions and divestments were also discussed to the extent they arose.

More important matters that the Board of Directors addressed during the year include impairment of goodwill and other intangible assets, as well as operating assets in the Chinese operation in the Asia Pacific division. In addition, the Board of Directors addressed a number of acquisitions, including HKC, Crossmatch and Luxer One, as well as the divestment of the US wooden door business in the Americas division, consisting of the two companies Graham Wood Doors and Maiman Company, to Masonite. During the year, the Board of Directors also conducted in-depth reviews of the Group’s operations in Global Technologies division’s HID Global business unit, the Entrance Systems division and the Asia Pacific division, and visited the EMEA division’s operations in Albstadt and Berlin, Germany. The Board of Directors’ work is summarized in the timeline on pages 50–51 of the  Corporate Governance Report.

An evaluation of the Board of Directors’ work is conducted annually in the form of a web-based survey, which each board member responds to individually. A summary of the results is reported to the Board of Directors. Board members who wish can access the complete results of the evaluation. The Secretary to the Board of Directors presents the complete results of the evaluation to the Nomination Committee.