Work of the Board of Directors

The board of directors is the second-highest decision-making body of the Company after the shareholders' meeting and the highest executive body of the Company.

According to the Swedish Companies Act, the board of directors is responsible for the organization of the company and the management of the company’s affairs, which means that the board of directors is responsible for, among other things, setting targets and strategies, securing routines and systems for evaluation of set targets, continuously assessing the financial condition and profits as well as evaluating the operating management. The board of directors is also responsible for ensuring that annual reports and interim reports are prepared in a timely manner. Moreover, the board of directors appoints the CEO.

Members of the board of directors are normally appointed by the annual shareholders' meeting for the period until the end of the next annual shareholders' meeting. According to the Company’s articles of association, the members of the board of directors elected by the shareholders' meeting shall be not less than three and not more than eight members with not more than three deputy members.

Currently, the Company’s board of directors consists of seven ordinary members elected by the shareholders' meeting.