Committees

Remuneration committee

The overall responsibilities of the Board cannot be delegated, but the Board has established a remuneration committee tasked with preparing issues relating to salaries, remuneration and other terms of employment for the CEO and corporate executive, as well as incentive programs for employees of the Group. Reporting to the Board takes place regularly. The remuneration committee comprises Ulf Dinkelspiel (Chairman), Claes Dinkelspiel, Bo Mattsson and Kjell Hedman. According to the Swedish Code of Corporate Governance, Board members elected by the Annual General Meeting must be independent of the company and its executive. The member makeup of the remuneration committee means that these requirements have been met.

Audit committee

The Board has also established an audit committee tasked with preparing the work of the Board with regard to assuring the quality of financial reporting, maintaining ongoing contact with the auditor, proposing guidelines for the Board regarding which services, beyond auditing, that may be procured from the auditor, evaluating audit work and informing the election committee of the results of this evaluation. The committee also assists the election committee in preparing proposals for the election of auditor and for remuneration of audit work, proposes plans for internal audit procedures (independent review) to the Board, implements internal audits and reports on these to the Board. The audit committee comprises Tom Dinkelspiel (Chairman), Claes Dinkelspiel and Bo Mattsson. According to the Swedish Code of Corporate Governance, the majority of members must be independent of the company and its executive, and at least one member must be independent of the company's major owners. The member makeup of the audit committee means that these requirements have been met.

Risk and Compliance committee

The Board has also established a risk and compliance committee tasked with preparing matters for the consideration of the Board and which, in its work, shall, through dialogue with external auditors, the internal audit function, the compliance officer and Group Management, monitor the structure, compliance and incident reporting of the organisation and its operations and enhance the Board's access to information regarding these aspects. The risk and compliance committee comprises Kjell Hedman (Chairman) and Simon Nathanson.