The overall task of the Board of Directors is to manage the interests of the shareholders.
The Board’s tasks and duties include:
In 2018, the Board convened twelve times in addition to the statutory
The Board shall comprise no fewer than five and no more than seven members, with no more than two deputies. The employees have the right to appoint two representatives and two deputies to the Board.
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The Chairman of the Board is appointed by the Annual General Meeting. None of Gunnebo’s senior executives are members of the Board. The Group’s President and the CFO participate at Board meetings, the latter also serving as secretary. Furthermore, other senior executives participate at meetings whenever required.
The majority of Board members elected at the Annual General Meeting must be independent of the company and its executive management. At least two members who are independent of the company and its executive management must also be independent of the company’s major shareholders.
The Board’s work is primarily governed by the Swedish Companies Act, the Swedish Corporate Governance Code and the Board’s rules of procedure. The rules of procedure are adopted every year at the statutory meeting of the Board. The current rules of procedure state that the Board shall hold at least six scheduled meetings between Annual General Meetings and describe the matters to be addressed at each meeting. The rules of procedure also outline the division of work and responsibilities between the Board, the Chairman, the Board Committees and the President.