Audit Committee
The Audit Committee’s work follows an annual agenda calendar. The Committee is tasked with overseeing the company’s financial reporting and the effectiveness of its internal controls and risk management. The Audit Committee also stays informed about the audit of the annual accounts and consolidated financial statements. The Committee is also to review and oversee the auditor’s independence and impartiality and, in particular, whether the auditor provides the company with non-audit services. The Committee also assists with recommendations for resolutions by the Annual General Meeting regarding the election of auditors.
According to the Code, the majority of the Committee’s members must be independent of the company and its management. At least one of the members who is independent of the company and its management must also be independent of the company’s major shareholders. The Audit Committee consists of Board members Björn Garat, Rutger Källén and Ulrika Valassi, who meet the Code’s criteria for independence.
Remuneration Committee
The Remuneration Committee prepares matters related to remuneration principles, remuneration and other terms of employment for the company’s senior executives. The main tasks of the Remuneration Committee also include monitoring and evaluating the application of the remuneration guidelines for senior executives, as well as current remuneration structures and levels. The duties of the Remuneration Committee therefore include the preparation of matters relating to the relationship between fixed and any variable remuneration, the link between performance and remuneration, the main terms of any bonus and warrant programs, and the main terms of non-monetary benefits, pensions, terminations and severance payments. The Board makes decisions on remuneration-related matters based on the Remuneration Committee’s recommendations.
Under the Code, the Chairman of the Board can be the Chair of the Remuneration Committee, while the other members of the Committee must be independent of the company and its management. The Remuneration Committee consists of Board members Elisabeth Thuresson and Johan Ericsson, in accordance with the Code.