Board Committees

Audit committee

The board of directors has established an audit committee consisting of two members: Åsa Källenius and Per Sjöstrand. The audit committee shall, without any impact on the other responsibilities and tasks of the board of directors, e.g. monitor the Company’s financial reporting, monitor the efficiency of the Company’s internal controls, internal audits (if such function is established in the future), and risk management, keep itself informed of the audit of the annual report and consolidated financial statements as well as the conclusions of the Supervisory Board of Public Accountant’s (Sw. Revisorsnämndens) quality controls. The audit committee shall also review and monitor the impartiality and independence of the auditor and, in conjunction therewith, pay special attention to whether the auditor provides the Company with services other than auditing services. To the extent this task is not given to the nomination committee, the audit committee shall also assist in conjunction with preparation of proposals to the general meeting’s resolution regarding election of an auditor.

Remuneration committee

The board of directors has established a remuneration committee consisting of the board: Tomas Bergström, Björn Jansson, Åsa Källenius, Staffan Salén, Per Sjöstrand and Monica Trolle. Per Sjöstrand is the chairman of the committee. The remuneration committee’s main tasks are to (i) prepare the board of directors’ decisions on matters regarding principles for remuneration, remunerations and other terms of employment for the executive management, (ii) monitor and evaluate programmes for variable remuneration, both ongoing and those that have ended during the year, for the executive management, and (iii) monitor and evaluate the application of the guidelines for remuneration of the board and executive management established by the annual general meeting, as well as the current remuneration structures and levels.