Compensation committee
The Compensation Committee prepares ongoing matters regarding the compensation of senior executives, including matters pertaining to annual salary reviews and other terms of employment for the CEO.
In addition, a going-rate principle is adhered to regarding the salaries and remuneration of all deputy CEOs and heads of the Group functions. The committee reviews current salaries, fixed and variable salaries, and other compensation where applicable, including pension terms, of significance to all such executives. The committee also drafts principles regarding the salary and remuneration. At the board meeting on 29 April 2008, Anders Sundström was re-elected as member of the Compensation Committee, and Viktoria Aastrup, Lars Westerberg and Hans-Olov Olsson were elected for a first term. Among non-AGM–elected directors, Carl-Gustaf Angelin participate on the Compensation Committee. The head of Human Resources and deputy head of Human Resources make presentations at the committee’s meetings. The Compensation Committee has adopted rules of procedure for its work. The committee reports on its work to the Board, whereby the committee chair informs the Board about the committee’s decisions. However, the Board as a whole must decide on matters concerning the CEO’s employment and decide on the CEO’s terms of employment. The committee also reports its work to the Board bysubmitting meeting notes to the Board. The Compensation Committee held one meeting in 2007, on 18 October, which was attended by Dag Klackenberg, Anders Sundström and Carl-Gustaf Angelin, who at that time were members of the Committee; Jonas Iversen was not attending.
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