Corporate governance

The parent company of the Vattenfall Group, Vattenfall AB, is a Swedish public limited liability company with registered office in Stockholm. The Swedish Companies Act thus applies for Vattenfall AB, which entails that the company shall have a board of directors that is elected by the Annual General Meeting (AGM).

The Board, in turn, appoints the President and CEO, who is responsible for the day-to-day administration of the company in accordance with the Board’s guidelines and instructions.

The AGM also decides on Vattenfall AB’s Articles of Association, which specifies the object of the company’s business, among other things. The Articles of Association can be downloaded as a pdf in the menu to the right.

Important internal and external rules and regulations

Corporate governance in the Group is based on

External rules and regulations:

• Swedish and foreign legal rules, particularly the Swedish Companies Act and the Swedish Annual Accounts Act
• The Swedish state’s ownership policy and other owner directives
• The Swedish Code of Corporate Governance (“the Code”)

Internal rules and regulations:

• The Articles of Association
• The Board’s Rules of Procedure, including the CEO’s instructions and instructions on reporting to the Board
• Internal documents, particularly the Vattenfall Management System (VMS), which includes the company’s Code of Conduct and instructions on roles and responsibilities and on the delegation of duties

Where applicable, Vattenfall also adheres to the stipulations that apply for companies registered on Nasdaq OMX Stockholm, Sweden, as well as in the other marketplaces in which Vattenfall has securities registered.

Vattenfall is 100%-owned by the Swedish state and thus certain stipulations of the Code are not applicable for Vattenfall. See the deviations from the Code under the link below.

The complete Corporate Governance Report can be downloaded as a pdf in the menu to the right. Previous reports can be reached in the archive, which can be reached via the menu to the right.

Deviations the Swedish Code of Corporate Governance