Good corporate governance, risk management and internal control are key elements of a successful business and a prerequisite to maintain the trust of customers, owners, employees, authorities and other stakeholders. Swedbank defines corporate governance as the relationship between shareholders, executive management, other employees, other Group companies and other stakeholders. In a broader sense, it also encompasses:
- how the vision, purpose and strategy are designed and communicated
- how well the values are complied with
- 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 promotes the interests of customers and builds shareholder value is created
- how transparency is promoted
- and how we manage operations in a sustainable way
No deviations from the Swedish Code of Corporate Governance (the Code) or the rules of the stock exchange (NASDAQ OMX Stockholm) were reported in 2016.
The illustration below shows the formal corporate governance structure.