During the period between AGMs, the board of directors of Axis constitutes the highest decision-making body in the company. The duties of the board are governed by the Swedish Companies Act and by the articles of association. Axis has a board of directors with ten members of whom five are appointed by the AGM and five (of whom two are deputies) by unions as employee representatives. In view of the company’s operations, phase of development and conditions in general, the board has a suitable composition with respect to the directors’ competence, experience and backgrounds. The gender balance for the board members appointed by the AGM is adjusted by the two female employee representatives.