Volvo 2004 Annual Report Download - page 37

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Volvo included in the Dow
Jones Sustainability Index
Since 2002, Volvo has been included
in the Dow Jones Sustainability
World Index (DJSI World). DJSI
World is the first worldwide index
based on the work of global compa-
nies regarding sustainable develop-
ment. The companies are evaluated
annually in line with a
model that covers
financial, environment and
social factors. DJSI World
covers the best 10% of
the 2,500 companies
included in the Dow Jones
Global Index. Volvo is also one
of the approximately 170 companies
included in the Dow Jones STOXX
Sustainability Index, which encom-
passes the leading companies in
Europe.
More information is available at
www.sustainability-indexes.com
Corporate Governance 35
Corporate bodies in corporate
governance
The governance and control of the Volvo
Group is carried out through a number of
corporate bodies. At the General Meeting,
the shareholders exercise their voting
rights with regard to i.a. the composition of
the Board of Directors of AB Volvo and
election of external auditors. A Nomination
Committee proposes candidates to serve
as Board members and external auditors.
The Board appoints the President and
Chief Executive Officer of AB Volvo
(CEO). The duties of the Board are partly
exercised through its Audit Committee
and its Remuneration Committee. The
CEO is charged with the day-to-day man-
agement for the Group in accordance with
guidelines and instructions provided by
the Board. The presidents of the Group’s
eight business areas report to him.
The Board
In 2004, Volvo’s Board of Directors con-
sisted of 10 members elected by the
Annual General Meeting until February 2,
nine until September 1 and eight there-
after. In addition, the Board had three
CORPORATE
GOVERNANCE
➡Chairman of the Board, Finn Johnsson and Executive Vice President, Lennart
Jeansson at a plant visit in Poland.
members and two deputy members
appointed by employee organizations.
The CEO, Leif Johansson, was a member
of the Board.
During 2004, the Board held six regu-
lar meetings and seven extraordinary
meetings. One Board member was
excused from two of the ordinary meet-
ings. One board member was excused
from three extraordinary meetings and six
board members were excused from one
extraordinary meeting each.
The Board has adopted work proce-
dures for its internal activities that contain
rules pertaining to the number of Board
meetings, matters to be handled at regu-
lar meetings of the Board and duties
incumbent on the Chairman.
The Board has also issued written
instructions specifying when and how
information required to enable the Board