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the company has an effective executive management
team and appropriate remuneration terms; to ensure the
transparency and accuracy of the company’s external
reporting; and that external reporting provides a fair
presentation of the company’s performance, profitability
and financial position and exposure to risk; to monitor
the financial reporting, including instructions to the CEO
and the establishment of requirements for the content of
the financial reporting to be submitted to the Board on a
continuous basis; to ensure the company’s insider policy
and logging procedures are adhered to in accordance
with legislation and the guidelines of the Swedish Financial
Supervisory Authority; to ensure there are effective
systems for follow-up and control of the company’s
operational and financial position against set goals; to
follow up and evaluate the company’s development
and to recognize and support the work of the CEO in
carrying out the required measures; to ensure there
is sufficient control of the company’s compliance with
legislation and other rules applicable to the operation of
the company, to ensure the required ethical guidelines
are set for the company’s behavior; and to propose to
the Annual General Meeting any dividend, repurchase
of shares, redemption or other proposals falling within
the competence of the Annual General Meeting. The
Chairman of the Board of Directors is responsible for
evaluating the work of the Board. During 2018, he
conducted surveys of the members and, based on
this and interviews in the previous year, analyzed the
results. The results of the surveys were then presented
and discussed on the Board and on the Nomination
Committee as the basis for assessing the size and
composition of the Board. The evaluation focused on
Board work in general and on the contributions of individual
members, including the Chairman of the Board
and the CEO. The Board evaluations clearly contributed
to continued development of the work of the Board and
the committees.
Composition of the Board
Under the Articles of Association, AAK’s Board shall
consist of at least three and at most ten members. The
current Board consists of six members elected by the
Annual General Meeting. Under Swedish law, employee
organizations have a right to be represented on the
Board, and have appointed two ordinary members and
two deputies. In accordance with the proposal by the
Nomination Committee, four members were re-elected
Shareholders
Annual General Meeting
Board of Directors
CEO and Group Management
Group Functions
Business Areas
Food Ingredients
Chocolate & Confectionery Fats
Technical Products & Feed
Nomination Committee
Remuneration Committee
External Audit
Audit Committee
CORPORATE GOVERNANCE