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Board committees

Audit Committee

The main duty of the Audit Committee (AC) is to audit the Group’s accounting and financial reporting, as well as to remain in continuous contact with the auditors and review their work plan and fees. Furthermore, the AC is to assist the Nomination Committee in its choice of auditors and their fees prior to those AGMs at which the appointment of auditors takes place. In 2019, the AC was established as Cecilia Fasth (Chair) and Teresa Enander (member). The CFO and the auditor attended all three AC meetings during the year and the Group’s Legal Counsel attended the December AC meeting. All members of the AC attended the three meetings during 2022 and so too the CFO and the auditor. The Chair of the AC gave a brief report to the Board at the February, August and December Board meetings.

Remuneration Committee

The work of the Remuneration Committee is, on behalf of the Board, to prepare and negotiate issues concerning the salary and other remuneration to the CEO, and to approve the CEO’s proposals for salaries and remuneration for the other members of senior management. Its duties also include examining the fees to Board members in the event that they are engaged as consultants by the company’s management. The Committee also addresses any Group-wide bonus system and option programmes. Decisions concerning remuneration for the CEO are determined by the Board. The Remuneration Committee consists of Jan Svensson (Chairman of the Board) and Eric Douglas (Vice Chairman of the Board). The Committee has had two meetings during the year, at which both members were present.