Nomination Committee for AGM 2005

At the first meeting of the Nomination Committee, Marcus Wallenberg, representing the Knut and Alice Wallenberg Foundation – Investor’s shareholder with the largest number of votes – was elected chairman of the committee. The Nomination Committee represents approximately 52 percent of the votes in Investor (on December 31, 2005).

In accordance with a decision made by Investor’s 2005 AGM, the Nomination Committee has had the task to prepare proposals for presenting to the 2006 AGM concerning the chairman of the AGM, the chairman of the board, board compensation and audit fees.

Work of the Nomination Committee for the 2006 Annual General Meeting

The Nomination Committee held three meetings during which minutes were taken and had informal contacts between meetings. As a basis for its work, the Nomination Committee performed an evaluation of the board and its work.

In order to assess the extent to which the current board meets the demands that will be made  of the board as a consequence of the company’s current position and future direction, the Nomination Committee discussed the size and composition of the board in terms of industry experience and expertise, for example. A report on the work of the Nomination Committee was published on Investor’s website in connection with the notice of the AGM.

Independence of the board

With the adoption of the new Swedish Code of Corporate Governance, new definitions and recommendations were introduced to determine the independence of the board and board members. The Code recommends that the majority of the board members are independent of the company and its management. In addition,  at least two of the board members who are independent of the company should also be independent of the company’s major owners. At the time of the 2005 AGM, the Code had not come into force and Investor’s Nomination Committee did not decide on the independence of individual board members.

Information updated 2008-06-19 11:28:38