Committees

Provisions on the establishment of an audit committee can be found in the Swedish Companies Act and in the Swedish Code of Corporate Governance, and provisions on the establishment of a Remuneration Committee can be found in the Swedish Code of Corporate Governance . 

Remuneration Committee

The company has a Remuneration Committee consisting of Johan Sjö (Chairman) and Stefan Hedelius. Both Johan Sjö and Stefan Hedelius are independent in relation to the Company and its management. Accordingly, the Company complies with the requirements of the Code. The tasks of the Remuneration Committee are set out in the rules of procedure of the Board, which are adopted annually. The Remuneration Committee shall prepare proposals regarding remuneration principles and other terms of employment for senior management and consult with the CEO regarding remuneration for senior management. The Remuneration Committee is also responsible for monitoring and evaluating variable remuneration programmes for senior management and the application of the guidelines for remuneration of senior management adopted by the Annual General Meeting. The compensation committee shall meet at least two (2) times each year, or more often if necessary.

Audit Committee

The entire Board of Directors constitutes the Audit Committee. The tasks of the Audit Committee are set out in its rules of procedure, which are adopted annually. The work of the committee shall be carried out as an integral part of the work of the Board at ordinary board meetings. Gunilla Spongh is appointed chair of the Audit Committee. Anders Claeson, Stefan Hedelius and Gunilla Spongh are independent in relation to the Company and its management and in relation to the Company's major shareholders, and Gunilla Spongh has accounting or auditing expertise. The Company therefore complies with the requirements of the Companies Act and the Code. The Audit Committee's tasks include maintaining and streamlining contact with the Group's auditors, overseeing accounting and financial reporting procedures, reviewing asset management and the financial position in general. In addition, the Audit Committee shall monitor the effectiveness of the Company's internal control, and consider possible recommendations to improve internal control over financial reporting, including reviewing annually the need for an internal audit function in accordance with the Code. The committee shall analyse the Company's risk management together with the company management and the external auditors. In addition, the committee shall participate in the planning of the audit work and assist in the preparation of proposals for the General Meeting of Shareholders’ decision on the election of auditors.