The Board’s Work

Under the rules of procedure established by the Board each year, the Board’s work is governed by the Swedish Companies Act and the Swedish Corporate Governance Code, which will apply for the company following its listing on NASDAQ Stockholm. The rules of procedure regulate the allocation of work and responsibility between the Board, Chairman of the Board and President, as well as stipulate procedures for financial reporting by the President. The Board also adopts rules of procedure for the Board’s committees.

The Board is tasked with establishing strategies, business plans and budgets as well as submitting interim financial statements, annual accounts, and adopting policies and guidelines. The Board is also charged with following financial developments, ensuring the quality of financial reporting and control functions and evaluating the company’s operations based on the established goals and guidelines adopted by the Board. Finally, the Board also takes decisions regarding major investments and organizational and operational changes in the company. Working closely with the President, the Chairman of the Board is tasked with monitoring the company’s performance and acting as Chairman at Board meetings. The Chairman is also responsible for the Board's annual evaluation of its work and for the Board receiving adequate information enabling it to perform its work in an efficient manner.