Remuneration Committee

REMUNERATION COMMITTEE

The Remuneration Committee’s main responsibility is to prepare for resolution by the Board of Directors matters regarding salary and other remuneration. This includes pension benefits of the President and CEO, the Executive Vice Presidents and other officers who report directly to the President and CEO. Other responsibilities include:

  • Developing and monitoring strategies and general guidelines for employee remuneration, including short-term variable remuneration and pension benefits.
  • Reviewing the results of short-term variable pay plans before pay out.
  • Preparation of the long-term variable remuneration program for referral to the Board and resolution by the General Meeting.
  • Preparation of targets for short-term variable pay for the following year, for resolution by the Board.

To achieve this, the Committee holds annual remuneration reviews with Company representatives to determine the strategic direction and align program designs and pay policies with the business objectives.

COMPOSITION OF THE COMMITTEE

The Remuneration Committee consists of four Board members as appointed by the Board.

CURRENT MEMBERS

Current members are: Michael Treschow, Chairman of the Committee, Nancy McKinstry, Börje Ekholm and Karin Åberg.
 
An independent expert advisor, Gerrit Aronson, is appointed by the Remuneration Committee to assist the Committee, particularly regarding international trends and developments.

INFORMATION ON REMUNERATION

For further information on remuneration, fixed and variable pay, please see Remuneration Report in the Annual Report.