Board of Directors

Composition of the Board

According to the articles of association of the Company, the Board shall consist of three to six members without deputies. Board members are elected for a one-year term.

The 2016 AGM re-elected the following Board members: Lars O Grönstedt, Liselotte Hjorth and Peter Elam Håkansson. Nadya Wells was elected as a new Director of the Board. The meeting re-elected Lars O Grönstedt as Chairman of the Board. At an EGM in January 2017 Göran Bronner was elected as a Director of the Board.

Independence of the Board

Under applicable regulations, Lars O Grönstedt, Liselotte Hjorth, Nadya Wells and Göran Bronner are regarded as independent in relation to the Company and its management, as well as the Company's larger owners. Peter Elam Håkansson is regarded as dependent in relation to the larger shareholders based on the fact that East Capital together with its related parties is a major shareholder of the Company.