Work of the Board of Directors

The Board of Directors defines targets, lays down strategies and budgets, and actively contributes expertise and experience. In accordance with adopted plans, the Board carries out an annual review of the company's business areas, and follows a systematic annual plan for matters to be discussed at board meetings.

Nine Board meetings are held each year. At least one of the meetings is held alternatingly in Sweden and Denmark, and two meetings are combined with a visit to a district or branch office and one of its projects in Scandinavia. The work of the Board is laid down in its rules of procedure, and each year it evaluates its own work and competence. More on the work of the Board of Directors are available in our Annual Reports.

The Audit Committee

The Audit Committee is composed of three Board members elected by the shareholders, and its work is governed by mandates and instructions that have been approved by the Board. The task of the Audit Committee is to develop the collaboration between the Board and the management, and between the Board and the external auditors. on behalf of the Board, the Audit Committee shall make itself familiar with and develop insight into and knowledge of accounting and financial matters, supervision and risk management. The committee reports to the Board of Directors. In 2015 the Audit Committee consisted of Gro Bakstad (chair), Per Otto Dyb and Hans von Uthmann.

The Remuneration Committee

The Remuneration Committee is composed of three Board members elected by the shareholders, and its work is governed by mandates and instructions that have been approved by the Board. The committee submits proposals to the Board on salaries and compensation schemes for the president and CEO. The committee also gives advice to the President and CEO on salaries and compensation schemes for the management. The committee reports to the board of Directors. In 2015 the Remuneration Committee consisted of Martin Mæland (chair), Ann-Christin Andersen and Hans von Uthmann.

The Property Committee

The Property Committee is composed of two board members elected by the shareholders, and its work is governed by mandates and instructions that have been approved by the Board. The Property Committee reviews all major investment decisions to ensure good internal control with regard to starting any new own-account projects and purchase of land for development. In 2015 the Property Committee consisted of Martin Mæland (chair), Ingalill Marie Berglund and Ingolv Høyland