The board has established an audit committee and a remuneration committee. The work of the committees is governed by the rules of procedure adopted by the board for the committees. Board committees deal with matters within their respective areas, and submit reports and recommendations that form the basis of board resolutions. The committees have certain decision-making powers within the framework of board directives.
The board has established an audit committee, consisting of Henrik Stenqvist and Henrik Blomquist, that conducts its work under the rules of procedure adopted by the board for the audit committee. The chairman of the audit committee is Henrik Stenqvist. The audit committee shall:
- Monitor and assure the quality of the company’s financial reporting to the board.
- Monitor the effectiveness of the financial reporting with regard to the company’s internal controls, internal auditing and risk management.
- Keep informed about the auditing of the financial statements.
- Review and supervise the work of the auditor.
- Assist the general meeting’s appointment of auditors and their fees.
- Regularly meet with the auditor, and discuss and inform themselves about the scope and coordination of external and internal auditing.
- Evaluate the auditor – inform the nomination committee of the outcome.
Fees for work on the audit committee are set by the board based on the resolution of the general meeting regarding total scope of remuneration. The annual general meeting of 4 September 2017 approved remuneration of SEK 50 thousand, of which SEK 30 thousand to the chairman of the committee and SEK 10 thousand to each committee member.
The board of directors has resolved that the entire board shall perform the duties of the remuneration committee under the Corporate Governance Code. In terms of remuneration this means that the board shall:
- Prepare proposals regarding remuneration policies, remuneration and other employment terms and conditions for the chief executive officer and senior executives.
- Review and evaluate existing and completed programmes regarding variable remuneration to the company’s management.
- Review and evaluate the application of guidelines for remuneration to senior executives adopted by the annual general meeting and other remuneration structures and remuneration levels in the company.
No fees will be paid for the completion of these duties.