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Board comittees

The Board has established an Audit Committee under the Swedish Companies Act and a Remuneration Committee under the Code.

The current composition and duties of the committees are described below.

Audit Committee

The Board of Directors has established an Audit Committee comprising three members: Maria Catoni, Jan Synnersten and Ola Salmén. Ola Salmén is Chairman of the Committee. The Audit Committee shall, without otherwise affecting the responsibilities and tasks of the Board of Directors, monitor the company’s financial reporting, monitor the efficiency of the company’s internal controls and risk management, keep themselves informed of the auditing of the annual report and the consolidated accounts, review and monitor the impartiality and independence of the auditor and pay close attention to whether the auditor is providing other services besides audit services for the company, and assist in the preparations for purchasing auditor services and in connection with the General Meeting’s decision on election of auditors.

Remuneration Committee

The Board of Directors has established a Remuneration Committee consisting of two members: Jan Synnersten and Thomas Widstrand. Thomas Widstrand is Chairman of the Committee. The main duties of the Remuneration Committee are to prepare resolutions by the Board of Directors on issues concerning remuneration principles, remuneration and other employment terms for the company’s executive management. The Remuneration Committee is also tasked with monitoring and assessing the company’s variable remuneration programs for the company’s executive management, as well as monitoring and evaluating application of the guidelines for remuneration to senior executives adopted by the Annual General Meeting, and the company’s current remuneration levels and remuneration structures. Moreover, the Remuneration Committee shall decide on remuneration and other terms of employment for senior executives who report directly to the Chief Executive Officer.