Board of Directors
Shareholders elect the Board at the AGM to serve a mandate period beginning with the AGM and concluding with the AGM the following year. On behalf of Investor’s owners, the Board establishes the goals and strategies for the company, evaluates the operational management and ensures that systems are in place to monitor and verify the company’s business and organizational objectives.
The Board also ensures that the company’s stakeholders are furnished with accurate information, that laws and regulations are complied with and that ethical guidelines and internal policies are modified as needed. Investor’s Board forms a quorum when more than half of the members are present.
Pursuant to the Articles of Association, the Board should consist of no less than three and no more than eleven directors and no more than four deputies. The AGM decides the exact number. The Board is assisted by a secretary, who is not a member of the Board. Board members are to devote the time and attention to Investor that their assignment demands. Each Board member is responsible for requesting supplementary information he/she feels is necessary to make sound decisions. New Board members are introduced to Investor's business operations by attending a comprehensive introduction orientation involving, for example, meetings with departmental managers. Board members are continuously updated on new regulations, practices and statutory requirements that may affect the business.
Chairman of the board
The AGM appoints the Chairman of the Board. The Chairman organizes and leads the work of the Board, ensures that the Board continues to advance its knowledge of the company, communicates views from the owners and serves as support for the President. The Chairman and the President set the agenda for Board meetings. The Chairman verifies that the Board's decisions are implemented efficiently, and ensures that the work of the Board is evaluated annually and that the Nomination Committee is informed of the result of this evaluation.
In addition to his active involvement in Investor, Chairman of the Board Jacob Wallenberg is also involved in a number of other companies and serves on a number of international organizations. He has built up an extensive international network and participates in various policy forums, such as The Atlantic Council, the European Round Table of Industrialists (ERT), the Peter G. Peterson Institute for International Economics and the International Business Council of the World Economic Forum. Jacob Wallenberg is also serving as Chairman of the International Business Leaders' Advisory Council for the Mayor of Shanghai (IBLAC).
The Board's rules of procedure
In addition to laws and recommendations, the work of the Board is governed by its rules of procedure. The Board reviews its rules of procedure annually and is empowered to adopt them following a Board decision.
The rules of procedure are divided into five sections in order to clarify and regulate the practices and tasks of the Board: the rules of procedure, instructions to the President and instructions to each of the three Board committees: the Remuneration Committee, Audit Committee and Finance and Risk Committee.
The rules of procedure also specify which matters of business should always be included on the agenda of each Board meeting as well as on the agenda of the statutory Board meeting. The rules of procedure set out that minutes should be kept at every meeting by the Board's secretary, who may not be a member of the Board. Furthermore, the rules of procedure set out how the minutes are to be prepared and distributed to the members and how the Board is to be informed about matters such as the issue of press releases. The rules of procedure also contain guidelines governing the decisions the Board may delegate to the President.