Board committees

The Nomination Committee

As decided by the 2010 AGM, the Nomination Committee shall consist of one representative for each of the five largest shareholders as at the end of September 2010.
The Nomination Committee ahead of the 2011 AGM consists of Henrik Jorlén (chairman, representing the Jorlén family), Erik Paulsson (representing the Paulsson family), Gun Boström (representing the Boström family), Johan Lannebo (representing Lannebo Fonder) and Magnus Molin (representing Svolder AB).
The Nomination Committee is responsible for making proposals to the AGM on the Chairman of the Board and other Board members, director’s fees for each of the Board members, the chairman of the AGM, how the Nomination Committee should be appointed for the coming year and, where appropriate, auditors and auditors’ fees. In addition, the Nomination Committee must also carry out certain tasks in accordance with the Swedish Code of Corporate Governance.
Since its inauguration and up until February 2011, the Nomination Committee has held one meeting.

The Audit Committee

The task of the Audit Committee is to supervise the procedures for accounting, financial reporting and internal auditing. The committee will have frequent contact with the auditors of Nolato AB and the Group, in order to discuss audit matters on an ongoing basis, evaluate auditing work and establish guideless for services other than auditing that Nolato may procure from its auditors.
The members of the committee are Lars-Åke Rydh (chairman) and Henrik Jorlén, who were appointed by the Board. The work of the committee is regulated by specific rules of procedure, which have been adopted by the Board.
The Audit Committee held four meetings in 2010. Both the members were present at three of these, and one member was absent from one meeting. Minutes were taken at all meetings.

The Remuneration Committee

The Board includes a Remuneration Committee, which is responsible for making proposals to the Board on variable remuneration for senior executives, including the President and CEO.
The committee also proposes all remuneration and benefits for the President and CEO to the Board. The Board has approved these principles for the variable remuneration of senior executives and all remuneration and benefits for the President and CEO.
The committee is also responsible for approving all remuneration to the executive management.
The members of the committee are Fredrik Arp (chairman) and Henrik Jorlén, who were appointed by the Board. The committee held two meetings in 2010.
Ahead of 2011, the committee drew principles for variable remuneration and other remuneration and benefits for the President and CEO and senior executives, which the Board will propose to the AGM for resolution.