Board of Directors

The Board is responsible for establishing overriding long-term strategies and goals, for setting budgets and business plans, for review and approval of the accounts and for making decisions in matters concerning investments and significant changes to PA Resources’ organisation and operations. The Board of Directors also appoints the President and determines the salary and other benefits for the company’s President.

Presentation of the Directors of the Board »
About the Board's work during 2008 »

Composition of the Board
Under the Articles of Association, PA Resources’ Board of Directors shall consist of a minimum of three and a maximum of eight members with a maximum of eight deputies. During 2009 the Board consisted of the following five regular members (no deputies):

Sven Rasmusson, Chairman of the Board
Lars Olof Nilsson
Catharina Nystedt-Ringborg
Hans Kristian Rød
Paul Waern

Since the 2009 Annual General Meeting the President is no longer a member of the Board of Directors, but attends meetings to give presentations. The lawyer Ulrika Magnusson of Ulrika Magnusson Advokat AB was appointed as Board secretary. Executive Vice President and other executives in the company attend Board meetings to present reports as needed.
PA Resources complies with the rules of the NASDAQ OMX Nordic Exchange and the requirement in the Code that a majority of the Board members elected by the Annual General Meeting are independent of the company and the company management and that at least two of these are also independent of the company’s major shareholders.

Chairman of the Board
Among other things, the Chairman of the Board is responsible for the Board members continuously receiving the information necessary to be able to monitor the company’s position, performance, liquidity, financial planning and development, for checking that the Board’s decisions are executed in an effective manner and for ensuring that the Board’s work is evaluated annually. Furthermore, the Chairman is obliged to perform the task regarding the establishment of a Nomination Committee and to participate in its work and otherwise take responsibility for and undertake all of the measures incumbent on the Chairman of the Board in accordance with the Swedish Companies Act and the work plan applicable to the Board.