The overall task of the Audit Committee is to ensure fulfillment of the Board of Directors’ supervisory duty in relation to internal control, audit, internal audit, risk assessment, accounting and financial reporting. The Audit Committee shall review procedures and routines in the aforementioned areas and in connection therewith form an opinion of whether the Company is applying the rules for financial reporting in a consistent and fair way and in accordance with the relevant procedures and routines. The Audit Committee shall also form an opinion regarding the risk situation in the Company and assess whether the applied procedures for internal control and governance are appropriate and effective and evaluate whether the Company’s reporting in the annual accounts regarding risks and handling of risks is correct and adequate. In addition, the Audit Committee shall monitor the impartiality and independence of the auditor, evaluate the audit work and discuss with the auditor the coordination of the external and internal audit. The Audit Committee shall also assist the Company’s nomination committee in preparing nominations for auditors and recommendations for audit fees. The Audit Committee has two members: Helena Nordman-Knutson (chairman) and Tomas Carlsson. The Audit Committee shall fulfill the requirement in respect of accounting or auditing competence as set forth in the Swedish Companies Act.
The task of the Remuneration Committee is to prepare matters relating to compensation and other employment terms for the CEO and other senior executives. This work includes proposing guidelines for, among other things, the relationship between fixed and variable compensation and the relationship between performance and compensation, the principal conditions for bonuses and incentive schemes, conditions for non-monetary benefits, pensions, termination and severance pay, and to make proposals on individual compensation packages for the CEO and other senior executives. Furthermore, the Remuneration Committee shall monitor and evaluate the outcome of variable compensation schemes and the Company’s compliance with remuneration guidelines adopted by the general meeting. The Remuneration Committee is also responsible for assisting the Board of Directors with their annual review of the senior executives, including the managing director, and to assist the Board of Director with the succession planning for the senior executives. The Remuneration Committee has two members: Johan Hjertonsson (Chairman) and Petra Einarsson.
|Audit Committee||Renumeration Committee|