Corporate governance and division of responsibility
The basis for good corporate governance is clear goals, strategies and values that are well understood by the bank’s employees. Swedbank’s corporate governance aims at creating a sound corporate culture that effectively contributes to the bank’s development.
- how the vision, purpose and strategy are designed and communicated
- how well the values are embraced
- how goals are set and followed up
- how remuneration systems are designed
- how risks are managed
- how future leaders are encouraged and developed
- how a corporate culture that supports the bank’s commitment to customers and builds shareholder value is created
- how transparency is driven
The principles of Swedbank's corporate governance are described in the Board of Directors' rules of procedure and are based, besides on external regulations, on recommendations published by various international bodies.These rules regulate the delegation of responsibility for governance, control and monitoring of operations between the shareholders, the Board of Directors and the CEO. No deviations from the Code or the rules of the stock exchange (NASDAQ OMX, Stockholm) were reported in 2012.
The illustration below shows the formal corporate governance structure and governance philosophy.