The board of directors’ main task are to attend to the company’s and the shareholders’ interests, appoint the CEO and be responsible for the company’s compliance with applicable laws, the articles of association and the Code.
The board of directors applies written rules of procedure that are revised annually and adopted by the inaugural board meeting every year. Among other things, the rules of procedure govern the board’s practices, duties and the division of work between the members of the board and the CEO. In connection with the inaugural board meeting, the board of directors also adopts instructions for the CEO, including instructions for financial reporting.
The board of directors meets according to an annual predetermined schedule. In addition to these meetings, additional board meetings can be convened to handle issues that cannot be postponed until the next ordinary board meeting. In addition to the board meetings, the chairman of the board and the CEO discuss the management of the company on an ongoing basis.
The company’s board of directors consists of seven ordinary members and three employee representatives with two employee representative deputies.