We do not believe in large centralized organizations. It is our core tenant that management should be close to the market and close to the daily business. The Thule Group is managed out of a small headquarters in Malmö, in the south of Sweden.

The Thule Group management consists of CEO, CFO, the Group's four HQ staff functions as well as the Presidents of the four business areas.

The CEO is appointed by the Board and is responsible for operating activities in accordance with the guidelines and instructions. This includes responsibility for financial reporting, development of information and decision support, and the obligations, agreements or other legal actions do not conflict with the Swedish or foreign laws and regulations, including competition rules. The CEO must also ensure that the objectives, policies and strategic plans are followed and updated as necessary. The CEO is, in consultation with chairman of the board, responsible for the appointment of other members of the senior management.

The Business Area Presidents of the Thule Group's four business areas have responsibility for all aspects of the business, including sales, profitability, product development and investment within their respective businesses. Overall management of the business areas is executed through business review meetings with the CEO and Thule Group HQ staff functions.

The Thule Group management is responsible for coordinating and developing policies and guidelines applicable for all the Thule Group, and supporting the business areas in applying these.