Administration

The Annual General Meeting (AGM) acts as the highest decision-making organ, where shareholders use their power of decision to guide and supervise the company. The AGM appoints an appointments committee to prepare selection of the Board of Directors. The AGM elects the Board of Directors and auditors and confirms the annual accounts. According to the Articles of Association, the AGM is held annually on a day specified by the board of directors, within six months of the end of the financial year.

The Board of Directors takes care of the company´s administration and appropriate arrangements for its operations. The Board controls and supervises the executive management and confirms the corporate strategy. The Board consists of at least five and no more than eight members. The term of office of the Board is one year. The Board selects the CEO and the CEO´s deputies and signs the annual accounts. The Board appoints the inspection committee and rewards committee.

The CEO is responsible for the company´s business operations and the implementation and management of its objectives, in accordance with instructions and stipulations issued by the Board. The Group´s management team is responsible for assisting the CEO in preparing and implementing Group strategy.