Board and management

The overall task of the Board is to be responsible for the organisation and administration of operations, while the CEO assumes responsibility for the operating activities. The CEO is assisted by a Management Group comprised of selected mangers within the company.

Board of directors

With responsibility for the company’s organisation and administration

The overall task of the Board is to be responsible for the organisation and administration of operations, and financial reporting pursuant to the Swedish Companies Act. The Board is also responsible for establishing efficient and appropriate systems for governance, internal control and risk management. The work is regulated through rules of procedure that are established at the statutory Board meeting every year. These rules include instructions on the Board’s areas of responsibility and limitations in relation to the committees and the CEO. The Chairman of the Board monitors the Board’s performance of its tasks. The Chairman also monitors operations in dialogue with the CEO and is responsible for ensuring the other members receive the information necessary to maintain a high level of quality in discussions and decisions. The Chairman is also responsible for evaluating the work of both the Board and the CEO.

Composition of the Board

Of the eight Board members, four are representatives of the owners and four are independent of the company and the owners. The AGM on 5 May 2025 elected Björn Garat as a new member of the Board as well as Chairman of the Audit Committee. Björn Garat succeeds Ann-Sofi Danielsson following her decision not to seek re-election. On October 14, 2024, Hannes Hasselrot was appointed as the new CEO of AB Nordiska Kompaniet and consequently requested to step down from Vasakronan’s board of directors with immediate effect.

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.

In total, the Board held ten scheduled meetings in 2024, one of which was statutory. In addition to the Board meetings, the Board also conducted one strategy conference together with part of the Management Team.

Evaluation of the Board of Directors

According to the Rules of Procedure, the Board of Directors must conduct an annual evaluation of its work. An evaluation was conducted in 2024 through online questionnaires for each Board member, managed by the Chairman. The results were then followed up by the Board. The Chairman of the Board also has individual conversations with each Board member to discuss the work of the Board. 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 also used as the basis for the Nomination Committee’s work with bringing forward new candidates for the Board of Directors and as a basis for developing the Board’s work.

Board committees

Audit Committee

The Board of Directors has appointed an Audit Committee consisting of three Board members. The Committee’s areas of responsibility are regulated in the rules of procedure established by the Board. The overall responsibilities of the Audit Committee include:

  • Preparing the work of the Board on quality assurance of the financial reporting, which in turn includes addressing
    material accounting issues • Monitoring the work of company management on internal control, tax management and risk and corporate governance issues
  • Evaluating the audit work and preparing the election of an auditor
  • Issuing guidelines concerning the advance approval of non-audit related services performed by the elected
    external auditor

The Audit Committee receives continual information about the orientation, scope and results of the audit. This takes place through the Committee studying the auditor’s written reporting and the auditor being present at certain Committee meetings. For 2024, the Audit Committee consisted of Ann-Sofi Danielsson, who was also the Chairman, Eva Halvarsson and Ulrika Francke. All members have the competence in accounting required under the Companies Act, as well as experience in sustainability reporting. The Committee held five meetings during the year. The company’s auditors attended all of these meetings, two of which pertained to the report on the audit.

For more information about the work of the Audit Committee, please refer to Vasakronan’s Annual Report.

Remuneration Committee

The Board of Directors has appointed a Remuneration Committee consisting of two Board members. The Committee’s areas of responsibility are regulated in the rules of procedure established by the Board. The Committee prepares the work of the Board of Directors on remuneration for senior executives and in the profit-sharing programme for other employees.

In 2024, the Remuneration Committee consisted of Ulrika Francke as Chairman and Niklas Ekvall. During the year, the Committee held five meetings, of which two were per capsulam, at which issues of remuneration for senior executives, pensions and principles for profit-sharing for other employees were primarily discussed. The CEO and the Chief Human Resources Officer, who is the secretary of the Committee, participated in all the meetings and the company’s auditors submitted their report from the review of remuneration for senior executives.

Board members

Ulrika Francke (1956), Chairman
University studies.

Other important assignments: Board appointments with Circura, SIS (Swedish Standards Institute), Sven Tyréns Foundation, SGBC, VREF, Liquid Wind AB and KREAB.
Previous experience: President and CEO of Tyréns, CEO SBC (Sveriges Bostadsrättscentrum AB), Director of Administration and City Commissioner City of Stockholm, President and CEO of Fastighets AB Brommastaden.
Elected: 2018.

Kristin Magnusson Bernard (1979), CEO First National Pension Fund
PhD in Macroeconomics

Other important assignments: Board appointments with Swedish House of Finance and member of The Financial Stability Contact Group (FSCG).
Previous experience: Leading positions at the International Monetary Fund (IMF), the European Central Bank and Nordea.
Elected: 2021

Ann-Sofi Danielsson (1959), Board professional
M.Sc. Economics.

Other important assignments: Board appointments with Pandox, Building Automation,  Infrakraft and Rusta.
Previous experience: CFO of Bonava, CFO and other executive positions at the NCC Group.
Elected: 2017

Niklas Ekvall (1963), CEO Fourth National Pension Fund 
Ph.D. Financial Economics and M.Sc Industrial Engineering

Other important assignments: Board appointments with the Swedish House of Finance, the Hans Dalborg Stiftelse för Bank- och Finansforskning and the KVA Investment Committee.
Previous experience: CEO Nordea Investment Management, Vice President Third National Pension Fund, various management positions at Nordea, Carnegie and Handelsbanken.
Elected:  2016

Eva Halvarsson (1962), CEO Second National Pension Fund
Graduate in Economics.

Other important assignments: Board appointments with the Advisory  Board of Gothenburg School of Business, Economics and Law, Finans-KompetensCentrum, Stiftelsen Korsvägen and Misum.
Previous experience: Tax auditor and manager State governance.
Elected: 2006

Staffan Hansén (1965), CEO Third National Pension Fund
M.Sc. Economics

Other important assignments: Board appointment with Hemsö.
Previous experience:
CEO of SPP Pension and Insurance, CEO for Storebrand Asset Manaegment.
Elected: 2023

Magnus Meyer (1967), Board professional
M.Sc. in civil engineering.

Other important assignments: Board appointments with Svevia, HiQ, Fagerhult, Infranord, Coor, Kinnarps and Slättö Förvaltning.
Previous experience: Technical Attaché in Los Angeles, various management positions at the Ljungberg Group, GE Real Estate, Tengbom and WSP.
Elected: 2019

Kia Orback Pettersson (1959), Board professional
M.Sc. Economics.

Other important assignments: Board appointments with ÅWL Arkitekter, ChefAkademin, Knowit, the Karl Adam Bonnier Stiftelse, RO-gruppen, Aqua Dental and Bond Health Group.
Previous experience: Marketing Director Dagens Nyheter, Deputy CEO Guldfynd and CEO Sturegallerian, as well as several years of experience from Board assaignments within the property, retail, service and healthcare sectors.
Elected: 2019

Management

Responsible for operating activities

The CEO is appointed by the Board of Directors and is responsible for operating activities in Vasakronan, in accordance with the Board’s instructions established each year. The CEO is responsible for keeping the Board continually updated on operations and ensures that the Board is provided with the necessary ba Johanna Skogestig has been the CEO of Vasakronan since 1 November 2019.

The CEO has formed a Management Team that, in addition to the CEO at the end of 2024, consisted of eight directly subordinate managers. The Management Team meets regularly in order to handle Group-wide and strategic issues. At four of them in 2024, the interim reports and operational monitoring were discussed, and two were longer strategy meetings. Two longer strategy meetings were also held. One strategy meeting was held in the spring, and focused on the trends and operating environment factors that impact the company. The other strategy meeting was held in the autumn, and the strategic portion of the business plan was prepared with focus areas and key issues for operations.

Remuneration for the CEO and Management Group

The principles of remuneration for the CEO and the Management Team are decided by the AGM. Salaries and other
benefits for the Management Team, including the CEO, consist only of fixed salaries with no variable remuneration. Vasakronan applies the Government’s “Guidelines for Terms of Employment for Senior Executives in state-owned Companies” as regards remuneration and other terms of employment for company management. The company can, however, deviate from the guidelines if there is reason to do so. Vasakronan deviates from the Government’s guidelines with regard to remuneration for the Management Team, exclusive of remuneration for the CEO, which is not reported at the individual level in the annual report.

For more detailed information about remuneration to the Management Group, please refer to Vasakronan’s Annual Report.

Management Group

Johanna Skogestig (1974), CEO and Acting Chief Customer Officer
M. Sc. in Engineering

Employed: 2015
Joined Management Team: 2015
Previous experience:
AP Fastigheter, Sveafastigheter and Areim
Other important assignments: Board appointments with Hemsö, Sweden Green Building Council and AMP.

 

Hanna Brandström (1980), Chief Human Resources Officer
B.Sc. in Business Administration

Employed: 2025
Joined Management Team: 2025
Previous experience: General Motors Nordic, Opel/Chevrolet Sverige, SC Motors Sweden, Kungsleden and Castellum.
Other important assignments:

 

Anna Denell (1972), Chief Sustainability Officer
M. Sc. in Engineering.

Employed: 1999
Joined Management Team: 2022
Previous experience: Locum, Haninge Bostäder and AP Fastigheter.
Other important assignments: Board appointments with “Håll Nollan” (Zero Accidents in the Construction Industry), Mistra Carbon Exit, LFM30 and Fria Byggakademien.

Johnny Engman (1977), Chief Financial Officer
M. Sc. in Finance and Accounting.

Employed: 2024
Joined Management Team: 2024
Previous experience: Byggfakta, Nordic Capital and Cloetta
Other important assignments: Board appointments with Disruptive Ventures.

Sheila Florell (1965), Chief Legal Officer
Law degree.

Employed: 2005
Joined Management Team: 2006
Previous experience: If Skadeförsäkring and the Association of Swedish Real Estate Agents.
Other important assignments: Board appointment with the Real Estate Research Institute (IFF).

Sandra Jonsson (1980), Chief Technology and Property Officer
M. Sc. in Engineering.

Employed: 2017
Joined Management Team: 2022
Previous experience: Schneider Electrics
Other important assignments: Board appointment with BIM Alliance.

Martin Kron (1982), Chief Investment and Projects Officer
M. Sc. in Engineering

Employed: 2023
Joined Management Team: 2023
Previous experience: Skanska
Other important assignments:

Nicklas Walldan (1971), Chief Development Officer
M. Sc. in Engineering

Employed: 2001
Joined Management Team: 2008
Previous experience: Tyréns
Other important assignments: Board appointments with Svensk Byggtjänst, the Swedish Construction Clients (SCC) and Samhällsbyggnadslänken KTH.