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 (“Aktiebolagslagen”) thus applies for Vattenfall AB, which entails that the company shall have a board of directors that is elected by the Annual General Meeting. The Board, in turn, appoints the President and CEO, who is responsible for the day-today administration of the company in accordance with the Board’s guidelines and instructions. The Annual General Meeting 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.

Corporate governance within the Group is based on Swedish and foreign legal rules as well as on the Articles of Association, the Board’s Rules of Procedure and other internal documents, such as the Vattenfall Management System (VMS). Where applicable, Vattenfall also adheres to the stipulations that apply for companies registered on NASDAQ OMX Stockholm, in Sweden, and the other marketplaces in which Vattenfall has securities registered.

Vattenfall applies the Swedish Code of Corporate Governance (“the Code”) and considers it as one of several important sets of governing regulations for external reporting and communication. Vattenfall also adheres to the Swedish state’s ownership policy. The departures that Vattenfall makes from the Code are mainly due to the Company’s ownership structure – Vattenfall is 100%-owned by the Swedish state, while the Code is written primarily for listed companies with broad ownership. Due to these ownership conditions, certain stipulations are not even applicable for Vattenfall.

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

Departures from the Swedish Code of Corporate Governance

Steering- and report structure