The organisation of the nomination committee is stipulated in the company’s Articles of Association, and separate instructions for the committee’s work have been drawn up.
Composition
The composition of the nomination committee will be independent of the Board and management and will take into account the interests of shareholders in general. The nomination committee consists of three members, all of whom are elected by the general meeting for a term of one year. The general meeting elects the nomination committee chairman and also decides on the committee’s fees.
The nomination committee was re-elected by the annual general meeting held on 26 May 2009 and consists of Andreas Mellbye (chairman), Lise Lindbäck and Stine Rolstad Brenna. All members are up for election in 2010.
The work of the nomination committee
The nomination committee’s duties consist of proposing candidates for election as Board members and making recommendations regarding Board fees. The nomination committee is required to report on its work and submit its recommendations, with reasons, to the general meeting. The recommendations will include relevant information about the candidates and an evaluation of their independence from the company’s management and its important business associations.
Information on the nomination committee and its members is available on the company’s website. The company gives notice of deadlines for submitting proposals for potential Board and nomination committee members on its website.