The Board of Directors

The Board of Directors is elected by the shareholders at the AGM for a mandate of one year. The Articles of Association state that the Board shall comprise - in addition to trade union members - a minimum of seven and a maximum of eleven Members.

The Board has overarching responsibility for managing Swedbank’s affairs in the interests of the company and all shareholders. The Board’s tasks include setting operational goals and strategies, appointing and evaluating the CEO, and ensuring that effective systems are in place to monitor and control operations, that laws and regulations are followed, and that the information released to the public is distinguished by transparency and accuracy.

The overarching responsibility of the Board cannot be delegated. On the other hand, the Board has committees that monitor, prepare and evaluate issues within their respective areas for resolution by the Board.

Risk & Capital committee - prepares issues involving market risk, credit risk, liquidity, funding and capital.

Compensation committee - prepares compensation issues and ensures, among other things, that compensation systems comply with effective risk management and do not encourage exaggerated risk-taking.

Audit & Compliance committee - gives the Board, through its work and in dialogue with the External Auditor, the head of Internal Audit and the Group Executive Committee, greater access to information on any deficiencies in routines and organisation from the standpoint of corporate governance, risk management and control.

Swedbank meets the Stock Exchange requirements with regard to the independence of the Board of Directors. The Board Members elected by the General Meeting, are independent of the company, with the exception of Göran Hedman, CEO of Sparbanken in Enköping. Göran Hedman is considered to be independent in relation to the management of the bank and the bank’s major shareholders.
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