Board committees

Audit Committee

In september 2018, the Board established an Audit Committee comprising Göran Sundström, chairman, Charlotte Strömberg and Håkan Lundstedt. The Board has issued instructions for the committee work. 

The Audit Committee is responsible for the quality assurance of financial reporting. In addition, the Audit Committee is responsible for supervising the effectiveness of risk management and internal control of the financial reporting. 

Financial year 2017/18

At its first meeting following the AGM 2017, the Board established an Audit Committee comprising Cecilia Marlow, Chairman, Göran Sundström and Charlotte Strömberg. The Board has issued instructions for the committee work.

The members of the Audit Committee met the auditors on two occasions during the 2017/18 financial year to be informed about the focus of the audit and discuss views on the risks faced by the company. In addition, the auditors attended several of the committee’s other meetings. Important tasks for the Audit Committee are to serve as a communication link, between the Board and the company’s auditors and to establish what services over and beyond auditing can be procured from the company’s auditors. The auditing effort is evaluated annually, after which
information is passed to the Nomination Committee on the
outcome.

The Audit Committee held seven meetings during the financial year. Attendance in 2017/18  is shown in the table on this page. The meetings are minuted and reported at the next Board meeting. Representatives of the company’s management attended the committee’s meetings as co-opted members. The meetings addressed issues aimed at quality assuring risk management and internal control of the financial reporting. Moreover, the Audit Committee dealt with issues regarding the company’s interim reports, annual report, accounting, liquidity and other issues.

Remuneration Committee

In accordance with the Swedish Annual Accounts Act, the AGM of a limited liability company whose shares are listed for trading on a regulated marketplace is to decide on guidelines for remuneration of senior executives. The Code also stipulates that the Board is to establish a Remuneration Committee. The Clas Ohlson Board decided that the Remuneration Committee 2018/19 was to comprise Kenneth Bengtsson, Mathias Haid and Göran Näsholm. The Board has issued instructions for the committee work.

The Remuneration Committee submits proposals for guidelines pertaining to basic salary and variable remuneration for senior management. The process regarding variable remuneration for all staff works in a similar way. 

Financial year 2017/18 

The Clas Ohlson Board decided in September 2017 that the Remuneration Committee for 2017/18 was to comprise Kenneth Bengtsson (Chairman), Göran Näsholm and Mathias Haid. The Board has issued instructions for the committee work.

The Committee met six times during the financial year. Attendance in 2017/18 is shown in the table on this page. The meetings are minuted and reported at the next Board meeting. The Remuneration Committee addressed such issues as fixed and variable remuneration and prepared the suggestions to long-term incentive program (LTI).

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