In addition to the Chairman of the Board of Directors, the Remuneration Committee comprises one or more directors, who must normally be independent both of the company and of the company’s top management, elected by the general meeting. Members of the Remuneration Committee must possess the required knowledge and experience of remuneration matters relating to senior executives. The CEO attends the Committee meetings to report on matters. The Remuneration Committee’s duties are stated in the Board’s rules of procedure. The Remuneration Committee submits proposals to the Board of Directors regarding the CEO’s salary and other employment terms and conditions, sets salaries and employment terms for other members of the Group Executive Committee, and sets limits regarding the salary and employment terms and conditions for other senior executives. The Remuneration Committee’s duties otherwise include preparing resolutions for adoption by the Board on issues concerning remuneration principles, preparing the Board’s proposal for guidelines to determine the salary and other remuneration of the CEO and other members of the company’s senior management, as well as monitoring and evaluating the application thereof. The Remuneration Committee also monitors and evaluates programs regarding variable remuneration of the company’s senior management.
The Remuneration Committee comprise of Bo Annvik, Petra Einarsson and Lennart Evrell (Chairman). The CEO is co-opted to the Committee but does not participate in discussions concerning his own salary and employment terms and conditions.