Group Management and structure
The organization encompasses six business units and five Group staff functions.
President and Group Management
Group Management comprises the President and CEO, the heads of the six business units, and the heads of the five Group staffs.
The President is appointed by the Board and is responsible for the ongoing management of the company in accordance with the Board’s guidelines and instructions. These instructions include responsibility for financial reporting, preparation of information and input for decisions, and ensuring that commitments, agreements and other legal documents do not conflict with Swedish or foreign legislation or ordinances, including competition regulations. The President and CEO shall also ensure compliance with goals, policies and strategic plans as well as updating these when necessary. The President and CEO appoints all members of Group Management.
The heads of the business units are responsible for the revenues, costs and use of capital in their respective operations. Overall management of the business areas is exercised through the quarterly meetings convened to review operations. In addition to the President and CEO, who directs the meetings, the heads of business units participate along with relevant representatives from the units.
Group staff functions are responsible for coordination of general issues of importance to the Group, development of policies and guidelines, and support for the business units that apply them. The tasks of the staffs include consolidation and reporting of financial results, financing, risk management, legal matters, personnel matters, internal communication as well as external communication with media and the capital market. Group Management holds monthly meetings to review the previous month’s results, update forecasts and plans, and discuss strategic issues. In addition, weekly meetings are held by telephone.