Committees
Remuneration Committee
The Board has appointed a remuneration committee
consisting of Chairman of the Board, Björn Nilsson
(chairman), as well as two other Directors, Lars Ingelmark and
Elisabeth Lindner. All directors are independent of the
Company and its senior management.
The Board's Remuneration Committee, whose work is Regulated in the
instructions that comprise part of the rules of procedure for the
Board of Directors, considers and decides on issues pertaining to
remuneration and benefits to all senior executives except the CEO,
whose compensation is decided by the Board of Directors. The
committee also prepares other remuneration issues of greater
importance, such as incentive programmes. Furthermore, the
Remuneration Committee is tasked with monitoring and evaluating
variable remuneration for senior executives paid out or
discontinued during the year, and monitoring and evaluating the
application of the guidelines for remuneration for senior
executives which the AGM is required by law to vote on, as well as
applicable remuneration structures and levels within the Company.
The Remuneration Committee reports to the Board of Directors. The
Committee met three times in 2010.
Audit Committee
The Board of Directors has appointed an Audit Committee
consisting of Kent Petersson (Chairman), Lars
Backsell, Lars Ingelmark and Björn Nilsson. All directors
are independent of the Company, its senior management, and major
shareholders. The Audit Committee's members have the requisite
accounting expertise.
The Audit Committee, whose work is regulated in the instructions
that serve as part of the rules of procedure for the Board of
Directors, is tasked with preparing issues on behalf of the Board
of Directors pertaining to selection of auditors and
remuneration,follow up of the auditors' work and the Company's
internal control systems, follow up of the current risk scenario,
follow up of external audits and the Company's financial
information, adoption of the earnings report for quarters 1 and 3,
preparation of the interim report for quarters 2 and 4, as well as
the Company's annual report, follow up of issues pertaining to
financing, and preparations to adopt and revise financial policy
and other issues that the Board of Directors entrusts to the
Committee. The Audit Committee reports to the Board of Directors.
The committee held five meetings in 2010.