Committees

The Board has established an audit committee and a remuneration committee. The work of the committees is mainly of a preparatory and advisory nature, but the Board may delegate decision making authority to the committees in special cases.

 
Audit Committee

The Audit Committee should consist of at least two AGM-elected board members. The committee members should have specialist competence, experience of and interest in financial and accounting issues. The Board elects the Chairman of the Audit Committee. The Audit Committee’s members are Marie Osberg (Chairman of the Audit Committee) and Göran Näsholm.

The Audit Committee supports the Board in fulfilling its responsibilities in internal control and accounting, and to ensure the quality and oversight of Nordisk Bergtekniks’ financial reporting. The purpose is to increase the quality of the audit and to improve contacts between the Board and the company’s auditor as well as to increase the quality and improve the supervision and control of the Company’s financial risk exposure and risk management.

The Audit Committee analyses and highlights key accounting issues affecting the Group and monitors the financial reporting process to ensure quality. The committee also takes note of the company’s impairment test and its assumptions, assists the Nomination Committee to prepare proposals for auditors and their fees, and assesses the independence of the external auditor.

Regarding the Group’s risks the Audit Committee monitors that there are well-functioning processes within the Group for identifying and managing risk, in addition to monitoring the efficiency of the Group’s risk management processes.

 
Remuneration Committee

The Audit Committee should consist of at least two AGM-elected board members. The committee members should have the necessary knowledge and experience in matters concerning remuneration to senior executives. The Board elects the Chairman of the Remuneration Committee. The Remuneration Committee’s members are Chairman of the Board Mats O. Paulsson (Chairman of the Remuneration Committee) and Ljot Strömseng.

The Remuneration Committee submits proposals to the Board on CEO’s and other in Group Management’s salary and other terms of employment and draws up guidelines for remuneration to senior executives. The Remuneration Committee evaluates the application of these guidelines. The committee also has the task of monitoring and evaluating programmes for variable remuneration to Group Management that are ongoing or have been completed during the year, as well as assisting with succession matters.