According to the Swedish Code of Corporate Governance (Sw. Svensk kod för bolagsstyrning), the members of the remuneration committee shall be independent in relation to the company and the senior executives. The board of directors’ remuneration committee continuously evaluates the remuneration to senior executives in view of current market conditions. The committee prepares matters for decisions by the board of directors.
The remuneration committee currently consists of three members of the board of directors; Anders Janson (chairman), Sheila Florell and Ulf Sjöstrand, which are all considered to be independent in relation to the company and the senior executives. The members of the remuneration committee are appointed annually by the board of directors.
The remuneration committee’s functions are to:
- Prepare matters for decisions by the board of directors on remuneration principles, remuneration and employment terms for the senior executives.
- Monitor and evaluate on-going incentive programs as well as incentive programs completed during the year regarding variable remuneration to the senior executives.
- Monitor and evaluate the application of the guidelines for remuneration to senior executives which the annual general meeting according to law shall decide upon, and applicable remuneration structures and remuneration levels in the company.
The Remuneration committee shall convene no less than two times per year.