Remuneration Committee 2009

The Board has formed a Remuneration Committee to deal with all issues regarding salaries, bonuses, options and other forms of compensation for Group Management, as well as other management levels if the Board of Directors so decides. The committee presents its proposals to the Board, before the Board’s decision-making.

The Board of Directors has elected Melker Schörling and Berthold Lindqvist as members of the Remuneration Committee, with Melker Schörling as chairman of the committee, for the period up to and including the Annual General Meeting in 2010.  

Principles of Remuneration to Management

The Annual General Meeting on May 7, 2009 has decided on guidelines for remuneration to the board of directors and senior management regarding 2009. The compensation paid to the President and CEO and other members of Group Management consist of a fixed basic salary, variable remuneration, pensions and other benefits.

The variable remuneration varies between zero and the maximum amount as follows. For the President and CEO the variable compensation is maximized at 50 percent of his fixed annual salary. For the other members of Group Management, the variable remuneration is maximized at 35-200 percent of their fixed annual salaries. The variable remuneration is based on the outcome in relation to financial goals and growth targets within the individual area of responsibility (Group or Division) and in line with the interests of the shareholders.

The undertakings of the company as regards variable remuneration may, at a maximal outcome within all divisions during 2009, amount to a maximum of MSEK 53.