The Board of Directors holds overall responsibility for the organization and management of the company through regularly monitoring the business and ensuring appropriate organization, management, guidelines and internal controls. The Board decides on strategies and targets and makes decisions on major investments, acquisitions and divestment of operations.
Composition of the Board
The Board is appointed by the AGM, which has determined that the Board shall be composed of eight AGM-elected Board members and no deputies. The Board also includes three employee representatives and their three deputies. The Swedish state’s ownership policy prescribes that each gender shall have at least 40% board representation. The female/male distribution of PostNord’s Board of Directors was 37.5%/62.5% in 2011.
Board meetings and issues in 2011
The Board held five ordinary meetings and one statutory meeting in 2011. The Board’s duties include the production of interim, year-end and annual reports. The Board dealt with these issues in 2011. The CEO presented the financial and market situation at all board meetings. Also during 2011, the Board adopted a new corporate strategy and a business plan for 2012–2014. The Board regularly dealt with Audit and Compensation Committee reports and reports on internal control and financial affairs. The company’s auditor reported on the year’s audit work and the Board discussed these issues.
Board meeting, 23 February
Main topic: 2010 annual financial statement
Additional key issues: The PostNord brand, Acquisition of Eek Transport AS
Board meeting, 15 April
Statutory board meeting
Board meeting, 17 May
Main topic: Interim Report
Additional key issues: Production structure, Meddelande Sverige. Merger of Swedish and Danish stamp production.
Board meeting, 29 August
Main topic: Interim Report
Additional key issues: Investments in machinery for new Meddelande Sverige mail terminals. New organization and management structure.
Board meeting, 8-9 November
Main topic: Interim Report
Additional key issues: Strategic situation and options.
Board meeting, 13 December
Main topic: Business plan 2012-2014
Additional key issues: Principles for CEO and executive compensation