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. One of the ten Board members are not Swedish citizens.
The Board is considered to be in compliance with relevant requirements for independence. All Board Members except for Petra Hedengran and Jonas Samuelson have been considered independent. Petra Hedengran has been considered independent in relation to the company and the management of the company, but not in relation to major shareholders of Electrolux.
Jonas Samuelson has been considered to be independent in relation to major shareholders of Electrolux, but not, in his capacity as President and CEO, in relation to the company and the management of the company.
For more information on independence, see the company’s Corporate Governance Report.
The Board has established a Remuneration Committee and an Audit 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.