Highlights of 2007
- Three new members in Group Management.
- Electrolux deregistered from the U.S. Securities and Exchange Commission (SEC). The ADR facility remains.
- Following deregistration from the SEC, work on internal control is continuing in the form of Electrolux Control System (ECS).
- The Annual General Meeting elected Marcus Wallenberg as new Chairman of the Board.
- Capital was distributed to shareholders by redemption of shares.
The governance of Electrolux is based on the Swedish Companies Act and the regulatory system of the OMX Nordic Exchange Stockholm, including the Code of Corporate Governance (the “code”), as well as other relevant Swedish and foreign laws and regulations.
Electrolux applies the code. This corporate governance report is drawn up as a part of the application. The report has not been audited by the Group’s external auditors.
Electrolux does not report any deviations from the code in 2007, except as regards the composition of the Board’s Remuneration Committee, see page 91 for additional information.