Responsibilities and work
The Board of Directors responsibilities and work procedures are defined in accordance to the Swedish Companies Act, Securitas’ Articles of Association as well as the Swedish Code for Corporate Governance.
Board meetings and attendance in 2023
This information is also available on page 40 in the Annual and Sustainability Report 2023.
Board of directors
According to the Articles of Association, the Board of Directors should have between five and ten Board members elected by the Annual General Meeting, with no more than two Deputy Directors. The Directors and Deputy Directors are elected by the Annual General Meeting for the period up to and including the first Annual General Meeting to be held in the year after the Director or Deputy Director was elected. Securitas' Board of Directors has eight members elected by the Annual General Meeting, three employee representatives and one deputy employee representative.
The responsibilities of the board of directors
The Board is responsible for the Group’s organization and the management of the Group’s business. The Board shall manage the Group’s affairs in the interests of the Group and all its shareholders and ensure and promote a good company culture. The Board appoints the President and CEO and has formed an Audit Committee and a Remuneration Committee. The Board meets a minimum of six times annually.
The work of the board of directors
The activities of the Board and the division of responsibility between the Board and the President and CEO are governed by formal procedures documented in a written instruction, which is adopted by the Board each year after the Annual General Meeting. According to these procedures, the Board should determine, among other things, the Group’s overall strategy, definition of goals (including business, profitability and sustainability related goals), corporate acquisitions and property investments above a certain level, and establish a framework for the Group’s operations through the Group’s business plan. The Board also plays an important role in the ongoing process of identifying and evaluating significant risks faced by the Group.
The procedures include a work instruction for the President and CEO, as well as instructions for financial reporting. The procedures also prescribe that an annual evaluation of the work of the Board of Directors should be carried out. On a yearly basis, all Board members submit their answers to a questionnaire issued by the Nomination Committee about the quality of the work in the Board. Based on this report, an evaluation is made in the Board and in the Nomination Committee.
