Technology Nexus AB’s Board is comprised of five members. Board members are elected annually by the Annual General Meeting, for the period until the next general meeting has been held. The following Board members were re-elected to the Board of Directors for Nexus at the 2007 Annual General Meeting, based on the recommendation of the Nomination Committee: Staffan Ahlberg, Kjell Duveblad, Peter Markborn, Jan Rynning and Anders Skarin. Peter Markborn was elected as Chairman of the Board. The Chairman of the Board does not participate in the operational management of the Company. The President and CFO of the Company attend Board meetings as speakers and Board secretary.
Each year, at a statutory Board meeting, the Board establishes an agenda for the Board plus instructions for the President. The agenda specifies how often the Board shall meet and what issues shall be discussed on each occasion. The agenda also establishes the division of responsibilities between the Board, its Chairman and the President. It is the duty of the Board to determine strategies, business plans and budgets, as well as interim reports and year-end reports. It is also the duty of the Board to appoint and dismiss the President and make decisions on major changes to Nexus’ organisation and operations. The Board’s agenda also includes maximum allowed amounts for decisions by the Board on investments, corporate acquisitions, corporate transactions, loans, etc. During the 2006 financial year, the Board held 18 official meetings at which minutes were taken, eight of which were ordinary meetings. At these meetings, the Board dealt with the matters that were on the agenda for each Board meeting, such as the business situation, budgets, interim reports and year-end reports. The Company’s auditors were in attendance at two of the Board meetings. This was in conjunction with their audit of the interim and annual accounts. Otherwise, the Board has concentrated on strategic issues relating to the organisation and business development during the year.
Nexus does not have a separate audit committee or remuneration committee and any issues relating to these areas are decided upon by the Board as a whole. The Nomination Committee is comprised of the Chairman of the Board (who convenes meetings), representatives for the Company’s major shareholders and a representative for minor shareholders. The following were appointed to the committee: Fonden Pecunia, represented by Peter Edwall, Tastinn AB, represented by Torsten Söderberg, Magnentus Group, represented by Magnus Malm, and Göran Öjersson. Peter Markborn, Chairman of the Board, is convener of committee meetings. The Nomination Committee had one meeting in 2006. Its work is to propose Board members and Board fees in preparation for the 2007 AGM.