Committees
Remuneration Committee
The Board has appointed a remuneration committee consisting of
Chairman of the Board, Karl Olof Borg, as well as two other
Directors, Lars Henriksson 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 programs. The remuneration committee
reports to the Board of Directors. The committee met five times in
2008.
Audit Committee
The Board of Directors has appointed an Audit Committee consisting
of Björn Nilsson (chairman), Karl Olof Borg, Lars Ingelmark
and Kenth Petersson. All directors are independent of the Company,
its senior management, and major shareholders. 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 six meetings in
2008.