The work of the board

The board of directors is the highest decision-making body after the general meeting and is also the highest executive body. The duties of the board are primarily set forth in the Swedish Companies Act, the Company's articles of association and the Code. In addition to this, the work of the board of directors is guided by instructions from the general meeting as well as the Company's own rules of procedure for the board of directors.

The board of directors' tasks include adopting strategies, business plans and budgets, interim reports, year-end financial statements and annual reports, as well as setting instructions, policies and guidelines. The board is also required to follow economic developments and ensure the quality of financial reporting and internal controls and evaluate operations on the basis of the objectives and guidelines set by the board of directors. Finally, the board of directors decides on the Company's major investments and changes in the organisation and activities.

The chairman represent the board of directors in relation to the shareholders of the Company. Members of the board of directors, except for employee representatives, are appointed annually by the annual general meeting for the period until the end of the next annual general meeting. According to the Company's articles of association, the members of the board of directors to be elected by the general meeting shall consist of a minimum of three members and a maximum of ten members without deputy directors.