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Management and remuneration

Besides the President and CEO, the Group Management consists of four business area executives and executives responsible for the main Group functions; Corporate Communication and Governmental Affairs, Organizational Development and Human Resources, Controlling and Finance and Legal. The President and CEO is responsible for the ongoing management of the Group following the Board’s guidelines and instructions.

The Remuneration Policy is reviewed and presented to the AGM by the Board of Directors for approval every year. In 2016, the AGM decided to adopt the Board’s proposal. The remuneration covers an annual base salary, variable compensation, possible long-term incentive (personnel options), pension premium and other benefits. The variable compensation is limited to a maximum percentage of the base salary. No fees are paid for Board memberships in Group companies or for other duties performed.