Vattenfall - The Board?s work

The Board’s work

Board meetings are conducted largely according to a plan established by the Rules of Procedure. This specifies that seven ordinary meetings are to be held each year. In addition to ordinary meetings, the Board is summoned to further meetings if the need arises. According to the Rules of Procedure, at least one meeting each year must be held at a place other than the head office. In 2007 a meeting was held in Forsmark, which was combined with a tour of its nuclear power plant. In addition, a meeting was held in Hamburg, which was combined with a tour of the nuclear power plant in Krümmel. The Rules of Procedure stipulate, among other things, that the following items must be included on the agenda once a year:

• The Group’s strategic plan.
• The Group’s total risk exposure.
• Safety and environmental issues within the Group’s nuclear power operations.
• Personnel issues within the Group, including the ability to attract and retain skilled personnel.
• Research and development activities within the Group.

In addition, the following are reported at each meeting:

• Important business events since the previous meeting, under the item “Business status”
• The Group’s financial position.

In 2007, safety issues at the Group’s nuclear power facilities were also discussed at each board meeting. Investments are followed up and analysed by the Board three years after the Board’s decision to invest. The Board also holds a number of board seminars each year. At these seminars the Board receives more detailed information about and discusses Vattenfall’s long-term development, strategy, competitive scenario and risk management. The Board had 13 meetings in 2007, including the statutory meeting. Please follow the link for a compilation of the meetings and some of the more important items of business that were discussed.