To streamline and increase the efficiency of the Board of Directors on remuneration and audit matters, the Board of Directors annually appoints a remuneration committee and an audit committee. The committees are appointed for a maximum of one year, and are appointed among the members of the Board of Directors itself. The primary objective of the committees is to provide preparatory and administrative support to the Board of Directors.
The remuneration committee shall prepare decisions on issues concerning remuneration principles, remuneration and other employment terms for the CEO and the executive management. The remuneration committee’s tasks are governed by the Company’s instructions for the remuneration committee. The committee is also tasked with following up and evaluating the Company’s remuneration policy, remuneration programs and remuneration structure.
Vidar Meum is the Chairman and Allan Engström and Ulrika Östlund are members of the remuneration committee.
The audit committee shall, without affecting the other responsibilities and duties of the board of directors, monitor the Company’s financial reporting and make recommendations and proposals to safeguarding the reliability of the reporting in relation to the reporting, monitor the efficiency of the Company’s internal controls and risk management, keep itself informed about the audit of the annual report and Group accounts and about the conclusions of the quality controls performed by the competent Inspectorate of Auditors, inform the board of directors about the result of the audit and the way the audit contributed to the reliability of the financial reporting, and also about the function of the audit committee, review and monitor the impartiality and independence of the auditor, paying particular attention to whether the auditor provides the Company with services other than auditing services, and assist in preparing draft resolutions for election of auditors to be passed at a general meeting.
Mats Lönnqvist is the Chairman and Arild Bødal and Linus Lundmark are members of the audit committee.