The Swedish corporate governance board has conducted a review of the corporate governance code and decreases the amount of rules to 26 in a revised code proposition.
The Swedish corporate governance board has conducted a review of the corporate governance code and decreases the amount of rules to 26 in a revised code proposition.
The changes clarify the role of the nominating committees of listed companies. Their sole purpose becomes to prepare the ground work for elections and honorary fees to the board for the annual stock holders meeting. The members of the nominating committee should take all shareholders viewpoints into consideration in their nominations. A majority of the election committee should be independent from the company and the company board.
The purpose of a revised Code is that it shall be the same for all 320 Swedish companies, listed at the OMX Nordic Exchange Stockholm and NGM Equity from the first of July this year.
See full Press Release.
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