Board committees
The Board currently has two committees: the Audit Committee and the Remuneration Committee. The committees’ assignments are regulated more closely in the annually revised committee instructions.
Audit Committee
The tasks of the Audit Committee include monitoring the company’s financial reporting and the efficiency of the company’s internal control and risk management. The Audit Committee works according to an agenda that is set annually and as of the Annual General Meeting on April 10, 2024, the Audit Committee consisted of Board members Tobias Lönnevall (who also served as Chairman), Per-Ingemar Persson and Nils Styf, none of whom is employed by the company.
In 2023, the Audit Committee held five meetings. Bonava’s auditor was present at all meetings. The meetings addressed matters such as the company’s interim reports and financing, the focus of the external audit and the company’s internal control of its financial reporting and preparation of long-term financing package.
Remuneration Committee
The tasks of the Remuneration Committee include addressing matters relating to the principles governing remuneration to the CEO and senior executives, as well as individual remuneration to the CEO in accordance with the remuneration principles. The Remuneration Committee works according to an agenda that is set annually and as of the Annual General Meeting on April 10, 2024, the Remuneration Committee cosisted of Board members Mats Jönsson (who also served as Chairman), Anette Frumerie and Tobias Lönnevall.
The remuneration principles include the relationship between fixed and variable remuneration, and the correlation between performance and remuneration, mainly the terms applying to potential bonuses and incentive programmes, and the primary terms of non-monetary benefits, pension, termination of employment and severance pay. The whole Board determines the CEO’s remuneration and other employment terms. Share-based incentive programmes for the Executive Management Group and other senior executives are decided by the AGM.
In 2023, the Remuneration Committee held three regular meetings. The members were present at all meetings. The meetings addressed matters such as variable and other remuneration to senior executives, guidelines for such remuneration, the proposed remuneration report for the company regarding 2023 and the proposed basis for a sharebased incentive programme for the Executive Management Group and certain key executives for resolution in 2023.