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 nine Board members, four are representatives of the owners and five are independent of the company and the owners. The AGM on 27 April 2022 elected two new members of the Board: Pablo Bernengo and Hannes Hasselrot. They replaced Kerstin Hessius and Christel Kinning, who declined re-election.

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 2022, one of which was statutory. One extra Board meeting was held during the year. In addition to the Board meetings, the Board also conducted one strategy conference that was held 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 2022 through online questionnaires for each Board member, managed by the Chairman. The results were then followed up by 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 2022, 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. The Committee held six meetings during the year. The company’s auditors attended four 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 2022, the Remuneration Committee consisted of Ulrika Francke as Chairman and Niklas Ekvall. During the year, the Committee held six meetings, of which three 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 assignments: Board member of 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 assignments: Board member of 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: 2020

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

Other assignments: Board member of Pandox, Building Automation, Netel 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 assignments: Board member of the Hans Dalborg Stiftelse för Bank- och Finansforskning, the KVA Investment Committee and Swedish House of Finance.
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 assignments: Member of 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

Hannes Hasselrot (1980), CEO Oriola Sweden and CCO (Chief Commercial Officer) Oriola
University studies in Biochemistry in education

Other assignments: Board member of
Previous experience:
CEO Kronans Apotek, and senior positions at Peak Performance, Liberty London, Bestseller and H&M.
Elected: 2022

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

Other Assingments: Board member WaterAid Sweden and Hemsö.
Previous experience:
CEO SPP Pension and Insurance, CEO Storebrand Asset Manaegment.
Elected: 2023

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

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


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 2022, consisted of eight directly subordinate managers. Six scheduled meetings were held in 2021. At four of them, the interim reports and operational monitoring were discussed, and two were longer strategy meetings.

In autumn 2022, the CEO also formed a business management team comprising, in addition to the CEO, the CFO the Chief Marketing Officer, Chief Technology Officer, Chief Investment & Projects Officer and Chief Information & Development Officer. The business management team meets on a monthly basis to discuss business-centric issues.

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 Vasakronan
M. Sc. in Surveying

Employed: 2015
Elected: 2015
Previous experience:
AP Fastigheter, Sveafastigheter, Areim
Other assignments: Board member of Hemsö.


Bo de Besche (1967), SVP, Customer Engagement and Marketing
M. Sc. in Surveying

Employed: 2002
Elected: 2020
Previous experience: Linköpings kommunala fastigheter AB
Other assignments: Board member of Uppsala Citysamverkan.


Anna Denell (1972), SVP, Sustainability
M. Sc. in civil engineering.

Employed: 1999
Elected: 2022
Previous experience: Locum, Haninge Bostäder and AP Fastigheter.
Other assignments: Chairwoman of “Hall Nollan” (Zero Accidents in the Construction Industry), board member of Mistra Carbon Exit, LFM30 and Fria Byggakademien.

Sheila Florell (1965), SVP, General Counsel
Law degree.

Employed: 2005
Elected: 2006
Previous experience: If Skadeförsäkring and the Association of Swedish Real Estate Agents.
Other assignments: Board member of Hydda AB and Hydda Holding AB and Idun Real Estate Solutions.

Sandra Jonsson (1980), SVP, Technology and Property operations
M. Sc. in civil engineering.

Employed: 2017
Elected: 2022
Previous experience: Schneider Electrics
Other assignments: Board member of BIM Alliance.

Martin Kron (1982), SVP, Property Development and Investment
M. Sc. in Surveying

Employed: 2023
Elected: 2023
Previous experience: Skanska
Other assignments:

Johnny Engman (1977), SVP, CFO
M. Sc. in Finance and Accounting.

Employed: 2024
Elected: 2024
Previous experience: Byggfakta, Nordic Capital and Cloetta
Other assignments:

Cecilia Söderström (1962), SVP, Human Resources
Graduate studies in personnel and labor market.

Employed: 2008
Elected: 2008
Previous experience: Svenska Spel and Ericsson
Other assignments: Board member of Almega Tjänsteförbunden and Almega AB.

Nicklas Walldan (1971), SVP, Technology, Services and Development
M. Sc. in  Civil Engineering

Employed: 2001
Elected: 2008
Previous experience: Tyréns
Other assignments: Board member of Svensk Byggtjänst, Idun Real Estate Solutions, Accessy, Byggherrarna Sverige and Samhällsbyggnadslänken And KTH Royal University of Technology.