The AGM elects the Chairman of the Board. Directly after the AGM, the Board holds a meeting for formal constitution. The members and Chairmen of the Committees are appointed at this statutory Board meeting.
All members of the Board, except for the President, are non-executive members. Four of the nine Board members elected by the Annual General Meeting are not Swedish citizens.
Independence
The Board is considered to be in compliance with relevant requirements for independence. All Board Members except for Geert Follens, Petra Hedengran, Daniel Nodhäll and Jonas Samuelson have been considered independent. Petra Hedengran and Daniel Nodhäll have been considered independent in relation to the company and the management of the company, but not in relation to major shareholders of AB Electrolux.
Geert Follens and Jonas Samuelson have been considered independent in relation to major shareholders of AB Electrolux, but not in relation to the company and its management. Geert Follens is a member of the group management in Atlas Copco AB in which the Company’s Deputy CEO and member of Group Management, Anna Ohlsson-Leijon, is a board member. Jonas Samuelson is dependent in his capacity as President and CEO.
Committees
The Board has established an Audit Committee, a People Committee and a Strategic Planning Committee. The major tasks of these committees are preparatory and advisory, but the Board may delegate decision-making powers on specific issues to the committees. The issues considered at committee meetings shall be recorded in minutes of the meetings and reported at the following Board meeting. The members and Chairmen of the Committees are appointed at the statutory Board meeting following election of Board members.
The Board has also determined that issues may be referred to ad hoc committees dealing with specific matters.
