Cybercom’s board evaluated the new Swedish code for corporate governance that the Stockholm stock exchange added to its regulations. This evaluation led to the conclusion that Cybercom’s governance meets requirements of the code and that no changes need be made for the time being. The board intends to comply with the code.
Shareholder and board representation
Cybercom’s board and executive team work diligently with corporate governance issues. Three of the largest shareholders are represented on the board. The company’s nomination committee requires that board members have the appropriate expertise. A remuneration committee strives to create the best possible conditions for reasonable compensation and bonus levels. The audit committee consists of all board members who work closely with the company’s auditors. Individual shareholders may submit proposals to the committees, via regular mail, to Cybercom’s headquarters in Stockholm, see
contact page.
Annual general meeting (AGM)
The AGM is the decision-making body in which all shareholders can participate. At the AGM, developments in the company are presented and decisions are made on several central items, such as dividends, remuneration for the board and auditors, changes to the articles of association, the appointment of auditors, discharge from liability for board members, and election of the board for the coming 12 months.
The board
The board is responsible for the Group’s organisation and management according to the Swedish Companies Act. A fixed programme regulates the distribution of responsibilities between the board and Cybercom’s CEO. According to this programme, the board takes decisions on the CEO's appointment, the main organisation, long-term financial planning, operation plans, the budget, and annual reports. The programme is considered and fixed annually. The board formulates CEO and reporting instructions, and Cybercom’s CEO is responsible for planning and implementing initiatives according to board decisions and the company’s ongoing administration.
The board consists of seven members, who represent a broad range of expertise in IT, telecom, business development, and HR. According to the corporate bylaws, Cybercom’s board can select three deputies. The nomination committee and the board decided to exercise that right, because it’s a good way to phase-in future board members. The nomination committee reviews and evaluates the board’s work and contributions of individual members.