The Board has the overall task of optimally managing the company’s affairs on behalf of the shareholders. The Board shall continuously assess the financial situation of the company and adopt the budget and annual financial statements. Furthermore, the Board is responsible for developing and monitoring the company’s strategies through plans and objectives, major investments, appointments of and remuneration to the CEO and senior executives, as well as ongoing monitoring of operations during the year.
The Board is responsible for ensuring that the company has sound internal control.
Each year the Board adopts authorisation instructions, instructions for financial reporting and rules of procedure for the Board of Directors which, together with instructions to the CEO, regulate matters such as the division of duties between the Board and the chief executive officer.
The Chair of the Board leads the Board’s work and ensures that it is conducted in compliance with the Swedish Companies Act, relevant regulations and good practices.
The Chair is also responsible for maintaining contact with corporate management, as well as for ensuring that the Board’s decisions are appropriately implemented.
At each Board meeting, the Board reviews current business conditions, the company’s financial position and performance, prospects for the remainder of the year and selected topics such as product development, marketing and sales, budget and long-term business planning.