Wallenstam applies principles for good corporate governance as an instrument to increase competitiveness and also to promote the confidence of the capital market. Among other things, this means that the operations are organized in an effective way with clear and well-defined areas of responsibility, that the financial reporting is characterized by openness and that the company acts responsibly in all respects.
Corporate governance in Wallenstam is based on Swedish legislation, mainly the Swedish Companies Act, and the rules and regulations of Nasdaq Nordic. Wallenstam’s Board and Management aim to ensure that Wallenstam shall meet the requirements imposed on the company by Nasdaq Stockholm, shareholders and other stakeholders. Through openness and accessibility, Wallenstam strives to provide an insight into decision-making processes, responsibilities, authorities and control systems.
Wallenstam applies the Swedish Code of Corporate Governance. Any deviations are reported and justified in the Corporate Governance report, according to the Code’s “comply or explain” principle.
For previous corporate governance reports, please see the respective annual report here.
Decisions in several company organs impact the Group
The Group’s governance and development are impacted by decisions in a number of company organs. In accordance with Swedish company law and Wallenstam’s articles of association, shareholders exercise their voting rights at the Annual General Meeting in order to take decisions concerning the composition of the Board and other important questions.
The Board decides on matters including larger investments and questions relating to the Group’s strategic direction and organization. Wallenstam’s corporate governance model is presented below.
*Svensk NaturEnergi was sold to Jämtkraft on April 1, 2019