Board of Directors

The matters reserved for the Board are prescribed primarily by the Swedish Companies Act and the Board’s Rules of Procedure.
The main duties of the Board are:

• To appoint the CEO and executive vice presidents;
• To establish the strategic direction of operations;
• To approve major investments, acquisitions and substantial organisational changes in the Group; and
• To set central policies and instructions.

In addition, the Board monitors the Company’s financial developments and has ultimate responsibility for internal control and risk management.

Each year the Board establishes its Rules of Procedure. Apart from mandatory items pursuant to the Swedish Companies Act, the Rules of Procedure regulate such things as the Chairman’s duties, information to the Board, the form of board meetings, the establishment of board committees, and evaluation of the work of the Board and the CEO.

The Chairman’s duties are outlined in both of the Swedish Companies Act and the Board’s Rules of Procedure. The Chairman heads the work of the Board and is responsible for ensuring that other board members receive adequate information.The Chairman participates when necessary in important external contacts.