Electrolux 2010 Annual Report Download - page 180

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annual report 2010 | part 2 | corporate governance report
Major external regulations
• Swedish Companies Act
• Rule book for issuers at Nasdaq
• Swedish Code of Corporate Governance
Major internal regulations
• Articles of Association
• Board of Directors’ working procedures
• Policies for information, finance, credit, accounting
manual, etc
• Processes for internal control and risk management
• Electrolux Code of Ethics, Policy on Bribery and
Corruption and Workplace Code of Conduct
For further information regarding:
• Swedish Companies Act; www.sweden.gov.se
• Nasdaq OMX Stockholm; www.nasdaqomxnordic.com
• Swedish Code of Corporate Governance and specific features of
Swedish corporate governance; www.corporategovernanceboard.se
The Electrolux Group is comprised of approximately
150 companies with operations in over 50 countries.
The parent company of the Group is AB Electrolux, a
public Swedish limited liability company. The company’s
shares are listed on Nasdaq OMX Stockholm.
The governance of Electrolux is based on the Swed-
ish Companies Act, the rule book for issuers at Nasdaq
and the Swedish Code of Corporate Governance (the
“Code”), as well as other relevant Swedish and foreign
laws and regulations.
This corporate governance report has been drawn up
as a part of Electrolux application of the Code. Electrolux
does not report any deviations from the Code in 2010.
Corporate governance report 2010
Business
Sector Boards
Risk Management Board
Treasury Board
Pension Board
Audit Board
IT Board
Tax Board
Brand Leadership Group
Global Operations Board
Global Product Boards
Sourcing Board
Human Resources Executive Team
Disclosure Committee
Internal bodies
President and Group
Management
Shareholders
by the AGM
Nomination
Committee
Board of
Directors
Internal Audit
External Audit
Remuneration
Committee
Audit Committee
Governance structure
• Hans Stråberg left Electrolux at year-end after nine
years as President and Chief Executive Officer. At
the same time, he left the Board of Electrolux.
• Keith McLoughlin has been appointed new President
and Chief Executive Officer as of January 1, 2011.
• Lorna Davis was elected new Board member at the
Annual General Meeting on March 30, 2010.
• Henrik Bergström has been appointed head of Floor
Care and Small Appliances and new Group Man-
agement member.
• Three new appointments in Group Management as
of February 1, 2011, to accelerate Electrolux strategy.
• Electrolux B-share was delisted from London Stock
Exchange on March 11, 2010.
HIGHLIGHTS
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