BOARD OF DIRECTORS

Board Committees

The Board has two Committees: the Remuneration Committee and the Audit Committee. The representatives sitting on these Committees are appointed by the Board from among its own ranks.

Remuneration Committee

Role

The Remuneration Committee’s task includes preparing issues pertaining to the conditions of employment for the Group Executive Team, succession planning and other personnel development issues prepared by the Group Executive Team and the Group’s SVP HR. The Remuneration Committee also evaluates the application of the guidelines for remuneration to senior executives adopted by the Annual General Meeting. The Remuneration Committee follows written rules of procedure.

Membership

All of the members of the Remuneration Committee are independent of the company and company management and one member is also independent of the company’s major shareholder.

Members

Five meetings were held in 2018.

Audit Committee

Role

The Audit Committee is a preparatory body for contact between the Board and the auditors. The Audit Committee follows written rules of procedure. The Committee’s duties also include examining and monitoring the Group’s financial reporting, external reporting, internal control and ensuring the management and reporting of financial risks.

Membership

All of the members of the Audit Committee are independent of the company and company management and, with the exception of Mikael Jönsson, the company’s major shareholders.

Members

 Seven meetings were held in 2018.