Nomination procedure

The nomination process for members of the Board of Directors involves appointing a Nomination Committee consisting of six members.

  1. That the company should have a nomination committee consisting of six members. The members should be one representative of each of the four largest shareholders in the company with regard to the number of votes held who wish to appoint such representatives, together with the Chairman of the Board of Directors (who should convene the first meeting) and one additional Director. The additional Director shall be appointed by the Board of Directors among the Directors who are independent in relation to the company. The term of office for the nomination committee shall be for the period until a new nomination committee has been appointed. Unless the members of the nomination committee agree otherwise, the Chairman of the nomination committee shall be the member that represents the largest shareholder with regard to the number of votes held.
  2. That the nomination committee shall be composed based on shareholder statistics from Euroclear Sweden AB as of the last banking day in August and other reliable shareholder information which has been provided to the company at such time. When determining who are the four largest shareholders with regard to the number of votes held, a group of shareholders shall be considered one owner if they (i) have been organised as a group in the Euroclear-system or (ii) have made public and notified the company that they have made a written agreement to take – through the coordinated exercise of voting rights – a common long-term view on the management of the company. The names of the representatives and the names of the shareholders they represent shall be announced as soon as they have been appointed.
  3. That if, during the term of office of the nomination committee, one or more of the shareholders having appointed a representative to the nomination committee no longer is among the four largest shareholders with regard to the number of votes held, representatives appointed by these shareholders shall resign and the shareholder or shareholders who then are among the four largest shareholders with regard to the number of votes held, may appoint their representatives. Unless there are special circumstances, no changes shall be made in the composition of the nomination committee if there are only marginal changes in the number of votes held or if the change occurs later than three months before the Annual General Meeting. A shareholder that has become one of the four largest shareholders on account of any more significant change in the number of votes held later than three months before the Annual General Meeting shall, however, be entitled to appoint a representative who shall be invited to participate in the committee’s work as a co-opted member. A shareholder who has appointed a representative as member of the nomination committee has the right to dismiss such member and appoint a new representative as member of the committee. Changes in the composition of the nomination committee shall be announced as soon as they have occurred.
  4. That the nomination committee shall prepare the below proposals to be submitted to the Annual General Meeting for resolution:
    a) Proposal regarding Chairman of the General Meeting,
    b) Proposal regarding the Board of Directors,
    c) Proposal regarding Chairman of the Board of Directors,
    d) Proposal regarding Directors’ fees and other compensation for each of the Directors as well as remuneration for committee work,
    e) When applicable, proposals regarding auditor’s fees and election of auditor, and
    f) To the extent deemed necessary, proposal regarding amendments of this instruction for the nomination committee.
  5. That the nomination committee, when performing its duties, shall fulfil the tasks that otherwise rest upon the nomination committee under the Swedish Code on Corporate Governance including, i.a., to provide the company with certain information in order to enable the company to fulfil its information obligation under the Code and to, upon request of the nomination committee, provide personnel resources such as secretary function for the nomination committee to facilitate the work of the committee. If needed, the company shall also be able to pay reasonable costs for external consultants that the nomination committee deems necessary in order for the committee to be able to fulfill its assignment. This instruction for the nomination committee applies until further notice.
Read more within Nomination Committees

The members of the Nomination Committee for Electrolux Annual General Meeting in 2014.

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The members of the Nomination Committee for Electrolux Annual General Meeting in 2013.

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The members of the Nomination Committee for Electrolux Annual General Meeting in 2012 are appointed.

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