Corporate governance

Corporate governance in Swedish listed companies is governed by a combination of written rules and practices. The regulations include primarily the Companies Act, but also the Swedish Code of Corporate Governance, issuer regulations and the Swedish Securities Council’s statements on good practice in the Swedish stock market.

According to the Companies Act, there must be three decision-making bodies, a general meeting, the board of directors and the managing director of the company, which are hierarchically arranged in relation to each other.

At the Annual General Meeting, shareholders exercise their voting rights in order to appoint, among other things, board members and auditors. The Board appoints the CEO and decides on issues of strategic nature as well as on the company’s overall organization.

The CEO is responsible for the day-to-day operations and the control of these. The group’s subsidiary managers report to the CEO. The Board shall have a formalized procedure for its own work. This shall also regulate the division of labor between the Board, the committees and the CEO.

SWEDISH CODE OF CORPORATE GOVERNANCE

From July 1, 2008, Duroc applies the Swedish Code of Corporate Governance. Part of this is presented on the web under corporate governance, and the previous year’s work on corporate governance issues is described each year in Duroc Corporate Governance Report.

Up until the financial year 2017/2018 all documentation has been in Swedish only. As of this year the documentation will be available in both Swedish and English.