The Compensation Committee presents proposals to the Board of Directors regarding the President’s salary and other employment terms, establishes salaries and employment terms for other members of the Group Executive Committee and establishes salary limits and employment terms for other senior executives.
In 2012, the Compensation Committee held three meetings at which minutes were taken.
The Committee consists of Sverker Martin-Löf (Chairman), John Tulloch and Lars Westerberg. The President is a co-opted member of the Committee but does not participate in discussions concerning his own salary and employment terms and conditions.
The Company currently has no share or share-price related incentive program. For a further description of the employment terms for the Board and the Group’s senior executives, see Note 2 in the Annual Report 2012.