The Board’s work
The Board is the Company’s highest decision-making body after the general meeting. According to the Swedish Companies Act, the Board is responsible for the Company’s management and organization, which means that the Board is responsible for, among other things, determining goals and strategies, ensuring routines and systems for evaluating established goals, continuously evaluating the Company’s earnings and financial position, and evaluating the operational management. The Board is also responsible for ensuring that the annual report and interim reports are prepared on time. In addition, the Board appoints the Company’s CEO.
The Board members are normally elected by the Annual General Meeting for the period until the end of the next Annual General Meeting. According to the Company’s Articles of Association, the Board, to the extent it is elected by the general meeting, shall consist of 3–10 with no deputies. At present, the Company’s board consists of seven ordinary members, who are presented in the section Board of Directors.
The Chairman of the Board must be elected by the Annual General Meeting and have special responsibility for the management of the Board’s work and for the Board’s work to be well organized and carried out efficiently.
The Board has, in accordance with the Swedish Companies Act, established a written procedure for its work, which must be evaluated, updated and adopted annually. The Board meets regularly according to a program established in the rules of procedure, which contains certain fixed decision points and certain decision points when necessary. In addition to these Board meetings, additional Board meetings can be convened to deal with issues that cannot be referred to a regular Board meeting. In addition to the Board meetings, the Chairman of the Board and CEO have an ongoing dialogue regarding the management of the Company.
The Board can establish committees with the task of preparing matters within a certain area and can also delegate decision-making rights to such a committee, but the Board cannot absolve itself of responsibility for the decisions made on the basis thereof. If the Board decides to establish committees within itself, the Board’s rules of procedure must state which tasks and which decision-making authority the Board has delegated to the committees, as well as how the committees must report to the Board. The Board has established an Audit Committee in accordance with the Swedish Companies Act and a Remuneration Committee.
CEO and senior executives
The CEO reports to the Board and is responsible for the Company’s ongoing administration and the day-to-day operation of the business. The distribution of work between the Board and the CEO is specified in the rules of procedure for the Board and the instructions for the CEO. The CEO is also responsible for preparing reports and compiling information from the management before Board meetings and is the presenter of the material at the Board meetings. The CEO must ensure that the Board receives appropriate information to be able to continuously evaluate the Company’s financial position.
The CEO and other senior executives are presented in the Management section.