Meetings during the year
The work of the Board of Directors follows an annual cycle of scheduled meetings on fixed dates, adjusted for such matters as the Board needing to adopt the financial reporting. At the scheduled meetings, the CEO presents general information on the operations, for example pertaining to key events in operating activities, follow-up of the business plan, the Group’s financial accounts and position, larger ongoing projects and transactions and, when necessary, the company’s funding. The chairpersons of the respective committees also report on their work.
Meetings in addition to the scheduled Board meetings are also held as needed, for example when a business decision requires the approval of the Board. In total, the Board held eight scheduled meetings in 2019, one of which was statutory.
Evaluation of the Board
The Rules of Procedure state that the Board of Directors must conduct an annual evaluation of its own work. In 2018, this was conducted using a written survey prepared by an external party. The results of the survey were presented to the full Board and were thereafter followed up by the Chairman interviewing each Board member. The purpose of the evaluation is to ensure that the Board is focused on the correct area, that the Board has the correct competence and that it is correctly composed. The results of the evaluation are used as the basis for the Nomination Committee’s work identifying new candidates for the Board of Directors.