Corporate Governance:
Board

The Board sets the Company’s objectives, strategy, budget and business plan. The work is guided by the Swedish Companies Act, the Articles of Association and the Board’s byelaws. The Board consists of three to nine elected members with maximum five deputies according to the Articles of Association. Board members are elected at the Annual General Meeting and serve until the next Annual General Meeting of the Company. 

In accordance with the Swedish Companies Act, OrganoClick’s Board adopt a written charter for its work every year after the Annual General Meeting. These rules of procedure regulate how the Board will operate and what matters will be handled by the Board. The working plan also regulates how the Board will regularly get information and financial reporting from the CEO.

Each regular board meeting follow an agenda and relevant data are sent to the Board prior to each meeting. The CEO and other senior executives of the Company attend Board meetings to present issues. The Board address issues such as research and development, marketing development, commercialization of products, organization, financial reporting and monitoring, financial position and investment. 

The Board participates fully in the audit process, including the monitoring and evaluation thereof, the quality of financial reporting, assessment of the final reports of the external auditor and the auditor’s review of the position of the company. The Board has not established an audit committee. This has not been deemed necessary due to the company’s size and the Board’s workload.

The Board has established a remuneration committee composed of the Chairman and a board member. Compensation issues for senior executives are proposed by the committe and set by the Board.