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Stockholm, August 19 2019
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Board of Directors & CEO

The Board of directors

The members of the board of directors are normally elected each year by the Annual General meeting, and serve until such time as the next Annual General Meeting has been held. There are no rules stipulating how long a member may serve on the board. The Nomination Committee conducts the work related to nominations.

Strax’s board consists of five ordinary members elected by the General Meeting. The CEO is a member of the board.

In compliance with the adopted procedural plan the following stipulations apply:

• The board shall meet at least five times per calendar year;

• Members of the board shall receive documentation regarding matters to be dealt with at board meetings in good time prior to the meeting and be provided with a monthly report of the company’s operations;

• In order to ensure that the board maintains a dialogue with the auditors, the company’s auditor shall participate in one board meeting annually and report on his or her close observations from the annual auditing work.

The procedure plan also includes a description of matters to be dealt with at each board meeting and the specific resolutions to be passed at the statutory meeting. The procedural plan also provides instructions for the CEO.

CEO
Strax’s CEO, Gudmundur Palmason, is responsible for the day-to-day operations. The CEO’s responsibilities cover ongoing investments and divestments, personnel, finance and accounting issues, regular contact with the company’s stakeholders (such as public authorities and the financial markets) and ensuring that the board receives the information it needs to make well-founded decisions. The CEO reports to the board. For further information on Gudmundur Palmason see Management and employees.