Committees

Remuneration Committee

The Board has appointed a Remuneration Committee comprising:

  • Fredrik Lundberg – Chairman
  • Bengt Kjell – Vice Chairman
  • Lars Pettersson – Board member

The Remuneration Committee’s work

The Remuneration Committee prepares the Board’s proposal for remuneration guidelines and other terms of employment for senior executives. The proposal is discussed by the Board and submitted to the AGM for a decision.

The Remuneration Committee is also assigned to address and prepare matters relating to the remuneration of executives, which are subsequently approved by the Board. Accordingly, the Remuneration Committee prepares a proposal for the CEO’s terms of employment. The CEO consults the Remuneration Committee on the terms of employment for other executives.

Meetings

In 2016, the Remuneration Committee held three meetings at which all members were present.

Audit Committee

The Board has appointed an Audit Committee comprising all Board members except for the Company’s CEO. The Chairman of the Audit Committee is Ulf Lundahl.

The Audit Committee’s work

The Audit Committee has an oversight role with respect to the Company’s risk management, governance and control, and financial reporting. The committee maintains regular contact with the Company’s auditor to ensure that the Company’s internal and external reporting satisfies the requirements made on market-listed companies and to discuss the scope and focus of auditing work. The Audit Committee evaluates completed audit activities and informs the Company’s nomination committee about the results of its evaluation and assists the Nomination Committee on drawing up recommendations for auditors and fees for their auditing work.

During the year a procurement of audit services was conducted in accordance with Regulation (EU) No. 537/2014 on statutory audit of public-interest entities, Article 16.1-16.5. The Audit Committee thereafter issued a recommendation to the Nomination Committee for appointment of the Company’s auditor.

Meetings

In 2016, the Audit Committee held five meetings, at which all of the members were present. On three occasions in 2016 the committee conducted reviews with and received reports from the Company's external auditors.