Election Committee

According to the Swedish Corporate Governance Code (the "Code") listed companies shall have an Election Committee that represents the company's shareholders. The Election Committee is thus a body of the shareholders' meeting that prepares decisions on certain appointments to be taken by the shareholders at the shareholders' meeting.

The main task of the Election Committee is to propose candidates for election to the Board of Directors including the Chairman of the Board, and, where applicable, candidates for election of auditors. When nominating persons for election to the Board of Directors, the Election Committee shall, according to the Code, determine whether, in its view, the persons nominated for election are considered to be independent of the company and its senior management as well as of major shareholders in the company.

In addition, the Election Committee shall propose a candidate for election of Chairman of the General Meeting of Shareholders. The Election Committee also prepares proposals concerning fees to directors and auditors.

The General Meeting of Shareholders has adopted instructions for the Election Committee which can be reached via a link on this page.

The Election Committee comprises:

  • Bengt Kjell, Chairman of the Election Committee, representing AB Industrivärden*
  • Lars Förberg, representing Cevian Capital (appointed by the Annual General Meeting) 
  • Pär Boman, representing Svenska Handelsbanken, SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen**
  • Yngve Slyngstad, representing Norges Bank Investment Management (appointed by the Annual General Meeting) 
  • Carl-Henric Svanberg, Chairman of the Board (appointed by the Annual General Meeting)

* The Annual General Meeting 2015 appointed  Carl-Olof By as member of the Committee, representing AB Industrivärden. Carl-Olof By has subsequently been replaced by Bengt Kjell following that Mr By’s employment with Industrivärden has ceased.

** The Annual General Meeting 2015 appointed Håkan Sandberg as member of the Committee, representing Svenska Handelsbanken, SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen. Håkan Sandberg has subsequently resigned from the Committee and has been replaced by Pär Boman.

A shareholder who wishes to submit a recommendation to the Election Committee may send the recommendation to the secretary of the Committee, Sofia Frändberg, at the following address:

Sofia Frändberg
AB Volvo (publ)
SE-405 08 Göteborg
Sweden

 

sofia.frandberg@volvo.com

 

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