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 downloaded just below.
Members of the Election Committee
Chairman of the Election Committee, representing AB Industrivärden (appointed by the Annual General Meeting)
Representing Handelsbanken, SHB Pension Fund, SHB Employee Fund, SHB Pensionskassa and Oktogonen (appointed by the Annual General Meeting)
Representing Alecta (appointed by the Annual General Meeting)
Representing Norges Bank Investment Management (appointed by the Annual General Meeting)
Chairman of the Board (appointed by the Annual General Meeting)
A shareholder who wishes to submit a recommendation to the Election Committee may send the recommendation to the secretary of the Committee, Sofia Frändberg,
Shareholder recommendations should be sent to:
AB Volvo (publ)
SE-405 08 Göteborg
Or email at sofia [dot] frandberg [at] volvo [dot] com