The role of the board

 

The most important tasks of the board include setting out strategic guidelines, appointing, evaluating and if necessary, removing the CEO and having ultimate responsibility for the group’s risk management and internal governance and control.

Diversity on the board

The board of Swedol should have appropriate combined competenceand experience about the business that is pursued and to be able to identify and understand the opportunities and risks that the business entails. The aim is for the board to be composed of members of various ages and different genders and with a varied education and career background that together contribute to an independent and critically questioning board. The board considers diversity to be an important issue. However, the board of Swedol does not consider diversity on the board to be a board issue but a shareholder issue. In 2018, female representation on the board increased from 29 to 33 percent.

Chair of the board responsibilities

The chair of the board leads board work and monitors business activities in consultation with the CEO. The chair represents the company on issues of particular importance. The role entails responsibility to ensure board work is well organized, efficient, that the board fulfills its obligations, and that the board receives satisfactory information and decision-making support data.

The chair is also responsible for new board members receiving the necessary induction training and that the board regularly updates and deepens its knowledge about the group.

Evaluation of the board and CEO

The board is to allocate time at board meetings for a regular evaluation of its work. Once a year, the board is to perform an exhaustive evaluation of its performance, areas of improvement, structures for its work and its composition. This is done by the board discussing a number of issues raised for this purpose concerning the work of the board. The board is also evaluated within the parameters of the work of the nomination committee. The board evaluates the work of the CEO at least once a year.

The board