Vattenfall - Corporate governance

Corporate governance

The parent company of the Vattenfall Group, Vattenfall AB, is a Swedish public limited liability company with its registered office in Stockholm, Sweden.

The Swedish Companies Act (“Aktiebolagslagen”) is thus applied 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. Corporate governance within the Group is based on Swedish and foreign legal rules as well as on the Company’s Articles of Association, the Board’s Rules of Procedure and other internal documents, such as the Group’s management system. Where applicable, Vattenfall also adheres to the stipulations that apply for companies registered on Nasdaq OMX in Sweden. 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. The complete Corporate Governance Report can be downloaded as a pdf in the menu to the right.

Departures from the Swedish Code of Corporate Governance