Work of the board of directors

RNB RETAIL AND BRANDS Board of Directors comprises seven members elected by the Annual General Meeting. The President is a member of the Board. The members are elected at the Annual General Meeting for the period until the close of the next Annual General Meeting.

RNB RETAIL AND BRANDS complies with the listing agreement and the Swedish Code of Corporate Governance with regard to the requirement for independent Board members.

RNB RETAIL AND BRANDS’ Board has a work procedure that complies with the Swedish Companies Act with regard to distribution of work and reporting. The work procedure regulates the Board’s meetings, matters to be addressed at Board Meetings, the duties of the Board Chairman, the President’s work duties and certain other matters.

Within the Board there is a Remuneration Committee and an Auditing Committee. The Remuneration Committee deals with salary and bonus to the President and to executives reporting directly to the President. The company also has a Election Committee, whose task is to propose Board members for election by the Annual General Meeting.

In addition to the statutory meeting, the Board held six ordinary meetings and 1 extraordinary meeting during the fiscal year 2009-2010. 

The 2011 Annual General Meeting set the Board fee at SEK 1050 000, including SEK 300 000 to the Board Chairman, SEK 137 500 each to the other members not employed by the company and SEK 62 500 to the Chairman of the Remuneration Committee.