The Nomination Committee is a preparatory body that prepares proposals for, among other things, the election of the Board of Directors, the Chairman of the Board and auditors as well as fees for adoption at the General Meeting. The Annual General Meeting has adopted an instruction for the Nomination Committee, which includes a procedure for appointing the Nomination Committee, valid until a General Meeting resolves on a change. In accordance with this instruction, the Nomination Committee shall consist of representatives of the four largest shareholders, in terms of the number of votes, on the final business day in August plus the Chairman of the Board (convener).
Nomination Committee for 2019 AGM
For the 2019 Annual General Meeting, the Nomination Committee consists of Fredrik Lundberg, Chairman (Industrivärden), Kaj Thorén (Alecta), Pär Boman (Handelsbankens Pensionsstiftelse and others), Marianne Nilsson (Swedbank Robur) and Johan Molin (Sandvik’s Chairman of the Board).
Up to the date of the Annual General Meeting, the Nomination Committee met on three occasions. Through Sandvik’s Chairman of the Board, the Nomination Committee was informed of the results of the Board’s own evaluation. The Committee also met with Sandvik’s President to review the company’s operations, stage of development and overall strategy. The Nomination Committee discussed the general criteria that Board members should fulfill, including the independence requirement, and reviewed the number of Board assignments that each Board member has in other companies. The Nomination Committee applied rule 4.1 of the Code as the diversity policy. This rule states that the Board shall have an appropriate composition in view of the company’s operations, phase of development and other relevant circumstances, display diversity and breadth in terms of qualifications, experience and background of the Board members elected by the General Meeting and that the company shall strive for gender balance.
Nomination Committee’s tasks ahead of the 2019 Annual General Meeting
- Proposal concerning the Chairman of the Meeting
- Proposal concerning the number of Board members
- Proposal concerning remuneration of each Board member
- Proposal concerning the Board and Chairman of the Board
- Proposal concerning auditor and remuneration of the auditor
- If deemed necessary, proposal for changes to the Nomination Committee’s instruction concerning the procedure for appointment of the Nomination Committee for the forthcoming Annual General Meeting and its assignment