Corporate governance pertains to the decision-making process through which owners, directly or indirectly, govern the company. For Beijer Alma, with its decentralized organization, good corporate governance is fundamental. This pertains to governance of both Beijer Alma and the companies owned by Beijer Alma.
Swedish Corporate Governance Code
The Swedish Corporate Governance Board has the ultimate responsibility for the Swedish Corporate Governance Code (the Code). Along with the annual report, companies are to submit a separate report on corporate governance issues, in which they state whether they follow the Code, and in cases where they do not, explain why. Beijer Alma’s Corporate Governance Report is to be prepared in accordance with the Code and the Swedish Annual Accounts Act.
Corporate governance at Beijer Alma
Beijer Alma’s governance – from shareowners, the Board of Directors, and the President and CEO to management – is based on relevant external laws, rules, recommendations and internal regulations and the company’s Articles of Association. The highest decision-making body is the general meeting of shareholders, through which Beijer Alma’s shareholders exercise their influence on the company. The Nomination Committee is appointed at the Annual General Meeting and has a preparatory role for the Annual General Meeting regarding proposals about the composition of the Board. The auditor is appointed at the Annual General Meeting and reviews the administration of the company.
The Board of Directors manages the company’s affairs on behalf of the owners. Beijer Alma’s Board of Directors is led by the Chairman of the Board, Johan Wall. The Board of Directors appoints the President and CEO, who is responsible for the company’s ongoing administration in accordance with the Board’s instructions. The delegation of responsibilities between the Board of Directors and the President is clarified in the annual instructions and work plans determined by the Board of Directors. To enhance efficiency and expand its work in certain areas, the Board of Directors has established two committees: The Audit Committee and the Remuneration Committee.
Internal policies and instructions are significant governance documents for the entire Group, since they clarify responsibility and authority within specific areas. The values that apply at Beijer Alma have been compiled in a Code of Conduct based on internationally accepted conventions regarding people, the environment and ethics. Senior management actively works with all employees to develop the corporate culture and to abide by these values.