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Annual Report 2015 Corporate governance report Board of Directors & Auditors Group Management Internal control AGM Events and reports

Corporate governance report 2015

Electrolux is a global leader in home appliances, based on deep consumer insight and developed in close collaboration with professional users. The company offers thoughtfully designed, innovative sustainable solutions for households and businesses, with products such as refrigerators, dishwashers, washing machines, cookers, vacuum cleaners, air-conditioners and small domestic appliances. Under esteemed brands including Electrolux, AEG, Zanussi, Frigidaire and Electrolux Grand Cuisine, the Group sells more than 60 million products to customers in more than 150 countries every year. In 2015 Electrolux had sales of SEK 124 billion and 58,000 employees.

Electrolux aims at implementing strict norms and efficient processes to ensure that all operations create long-term value for shareholders and other stakeholders. This involves the maintenance of:

  • an efficient organizational structure, 
  • systems for internal control and risk management and
  • transparent internal and external reporting. 

The Electrolux Group is comprised of 146 companies with operations in more than 150 countries. The parent company of the Group is AB Electrolux, a public Swedish limited liability company. The company’s shares are listed on Nasdaq Stockholm.

The governance of Electrolux is based on the Swedish Companies Act, the rule book for issuers at Nasdaq Stockholm and the Swedish Code of Corporate Governance (the “Code”), as well as other relevant Swedish and foreign laws and regulations. Below is Electrolux formal governance structure. 

This corporate governance report has been drawn up as a part of Electrolux application of the Code. Electrolux does not report any deviations from the Code in 2015.


  • Re-election of all Board members and re-election of Ronnie Leten as Chairman of the Board.
  • Performance-based, long-term incentive program for senior management.
  • Roll-out of and training on Electrolux Workplace Code of Conduct that was updated in 2014.
  • Training on Electrolux anti-trust and anti-corruption policies.
  • Continued focus on global ethics program, encompassing both training and a whistleblowing system. 

Governance structure


Major external regulations

  • Swedish Companies Act.
  • Rule book for issuers at Nasdaq Stockholm.
  • Swedish Code of Corporate Governance.

Major internal regulations

  • Articles of Association.
  • Board of Directors’ working procedures.
  • Policies for information, finance, credit, accounting manual, etc.
  • Processes for internal control and risk management.
  • Electrolux Code of Ethics, Policy on Corruption and Bribery and Workplace Code of Conduct.

AB Electrolux (publ) is registered under number 556009-4178 with the Swedish Companies Registration Office. The registered office of the Board of Directors is in Stockholm, Sweden. The address of the Group headquarters is S:t Göransgatan 143, SE-105 45 Stockholm, Sweden.