Board Committees

Audit committee

The Company has an audit committee consisting of four members: Gordon Orr (Chairperson), Conni Jonsson, Johan Forssell and Diony Lebot. Without it affecting the responsibilities and duties of the board of directors the Audit Committee is tasked with, among other things, monitoring the Company’s financial reporting and the efficiency of the Company’s internal controls and risk management, keeping itself informed about the audit of the annual financial statements and the consolidated financial statements, monitoring the handling of related party transactions, reviewing and monitoring the impartiality and independence of the auditors and paying special attention to whether the auditors are providing other services besides audit services to the Company, and assisting in preparations for the purchase of auditing services as well as preparations for the annual shareholders’ meeting’s decision on the election of auditors.

Remuneration committee

The Company has a remuneration committee consisting of three members: Edith Cooper (Chairperson), Conni Jonsson and Peter Wallenberg Jr. The Remuneration Committee is tasked with preparing proposals on remuneration principles, remunerations and other employment terms for the executive management. The Remuneration Committee is also tasked with monitoring and evaluating programmes for variable remuneration for the executive management, the application of the guidelines for remuneration to the executive management adopted by the annual shareholders’ meeting as well as the current remuneration structures and remuneration levels in the Company.