Work of the board
Pursuant to the Swedish Companies Act, the board of directors is responsible for the organization of the company and the management of the Company’s affairs, which means that the board of directors is responsible for, among other things, setting targets and strategies, securing routines and systems for evaluation of established targets, continuously assessing the financial position and profits, and evaluating the operating management. According to the Company’s articles of association, the board of directors shall consist of no less than 3 ordinary member and no more than 10 ordinary members, each of whom is elected at the annual general meeting until the end of the next annual general meeting. The chairman of the board of directors does not participate in the operating management of the Company.
The board of directors applies written rules of procedure, which are revised annually and adopted by the inaugural board meeting every year. Among other things, the rules of procedure govern the practice of the board of directors, its functions and the division of work between the members of the board of directors and the CEO. At the inaugural board meeting, the board of directors also adopts instructions for the CEO, including instructions for financial reporting.
As of the date of this Prospectus, the Company’s board of directors consists of six ordinary members without any deputies, all elected at the 2022 annual general meeting up until the end of the 2023 annual general meeting. For a description of the members of the Company’s board of directors, see Board.