Board of Directors work

During 2016, ten board meetings were held, one of which was a constituent.

Responsibilities of the Board

The Board appoints the CEO, and is responsible for the organisation and management of the company in accordance with the Swedish Company Act. The Board meets at least four times a year. The company’s auditors attend one board meeting each year.

The Board’s Rules of Procedure

The Board’s operations and the division of responsibilities between the Board and the management team are governed by the Board’s Rules of Procedure, which are adopted by the Board each year after the AGM. The current Rules of Procedure were adopted at the Board meeting on May 30, 2017. They include a Rules of Procedure for the CEO as well as an instruction for financial reporting.

Remuneration of the Board

At the Annual General Meeting in May 2017, it was decided that fees would be paid to the Board. These fees amount to SEK 160,000 to the Chairman of the Board, and SEK 80,000 to each of the other elected members who are not employed by the company.

Auditing and remuneration issues

The Board has decided not to appoint Audit and Compensation Committees, considering it most effective and appropriate that the Board as a whole be involved in matters relating to the audit of the company and the relationship with the auditors, including, preparation and decisions in matters relating to remuneration to senior executives.