Studsvik strives to continuously develop its rules and procedures to ensure transparency, to ensure that the shareholders have real influence and to ensure that the work of the Board of Directors is efficient.
The governance and development of the Group is affected by decisions made in a number of corporate decision-making bodies.
At the annual general meeting of shareholders, the shareholders exercise their voting rights in order to, in accordance with Swedish corporation law and Studsvik’s articles of association, make decisions concerning the composition of the Board of Directors and other central issues.
The parent company’s Board of Directors, which is also the Board of Directors of the Group, makes decisions on the Group’s organization, focus of work and investments, strategic plans, budgets and rules, guidelines and policies for the operative management of the Group.
The Board of directors appoints the President and Chief Executive Officer, who is responsible for the operational management and control of the Group. The heads of central staff as wells as the Presidents of group companies report to him. The Chief Executive Officer has appointed an executive management group to deal with group-related issues. The management group comprises the Executive Vice President, Presidents of group companies and the Director of Group Development.
The General Meeting of Shareholders appoints a Nomination Committee. The Committee shall lead the process of nomination to the Board of Directors, nominate members of the Board and present proposals on Board fees. The proposals of the Nomination Committee are published before the General Meeting and are presented at the General Meeting.
The Nomination Committee shall consist of a minimum of four and a maximum of five members, of whom one member shall be the Chairman of the Board. The Annual General Meeting elects four members to the Nomination Committee. Three of these members shall represent the largest shareholders and one shall be the Chairman of the Board.
The Board of Directors has appointed from among its members a Remuneration Committee. The Committee deals with remuneration issues concerning the President and other senior executives.