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Corporate governance
 

The Swedish code for corporate governance came into force on 1 July 2005. The code, which is based on self-regulation on the “follow or explain” principle, deals primarily with the organization and work of the annual general meeting, the Board of Directors and the company management, and the inter-relationship between them.

The Swedish code for corporate governance includes rules on the appointment of the Board and the auditors, the responsibility of the Board for internal controls, the process of appointing and remunerating the company’s management and information on corporate governance. Axis applies Swedish Law for Corporate Governance. The corporate governance report has not been reviewed by the auditors.

Corporate governance report

During the period between the annual general meetings, the Board of Directors of Axis AB (publ) constitutes the highest decision-making body within the company. The duties of the Board of Directors are laid down in the Swedish Companies Act and in the Articles of Association of the company. The work of the Board is controlled in addition by the formal work plan adopted annually by the Board itself. This formal work plan also determines the division of work and responsibility between the Board, its Chairman and the President and CEO, and also includes the financial reporting procedures for the President and CEO. The current corporate governance report was adopted at the annual general meeting in 2005.

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