The board’s work is regulated by rules of procedure that are revised annually.
According to the Board's rules of procedure, six ordinary meetings shall normally be held each year, in addition to the statutory meeting. The Board may also meet whenever the circumstances demand.
The Board annually adopts rules of procedure and an instruction on the allocation of work between the Board and the President and CEO, as well as an instruction on financial reporting to the Board.
The rules of procedure contain, i.a., provisions on the number of board meetings to be held, a list of matters to be considered at the meetings, reporting from the auditors and special decisions to be taken at the statutory meeting. The rules of procedure and special instruction for the CEO set forth the delegation of responsibilities between the Board and its two committees, the Remuneration Committee and the Audit Committee, as well as between the Board and the CEO.
The instruction for the CEO sets out the CEO's duties and authority. The instruction also includes policies on investments, financing and reporting.
Board work 2011
During 2011, the Board held one statutory meeting, six ordinary meetings and two extraordinary meetings, totalling nine meetings.
Out of a total of nine Board meetings, the Board members' attendance was as follows:
Marcus Wallenberg 9
Håkan Buskhe 9
Johan Forssell 9
Sten Jakobsson 8
Michael O'Callaghan 1
Per-Arne Sandström 9
Cecilia Stegö Chilò 9
Åke Svensson 8
Lena Treschow Torell 7
Joakim Westh 9
During the course of the year, the Board was assisted by the Secretary of the Board of Directors, General Counsel Anne Gynnerstedt, who is not a member of the Board. Anne Gynnerstedt left her position as General Counsel of Saab in January 2012.
The Board of Directors’ meetings follow a determined and pre-approved agenda. Prior to the meetings the Board Members receive documentation in support of the issues that are on the agenda. At each Board meeting, the CEO presents a Market and Operations Report. Financial reports are prepared monthly and submitted to the Board. The reports are presented at each Board meeting and before the quarterly reports and year-end report. Furthermore, the Board regularly reviews and considers investments, mergers and acquisitions, and divestments. In 2011, the Board of Directors reviewed and adopted a budget and a business plan. The Board lso focused on the company’s strategy and followed up on significant export opportunities and related marketing investments.
Committee work represents an important part of the Board’s work. After meetings of the Audit and Remuneration Committees, the issues that have been handled are reported to the Board, and resolutions are adopted on issues where the committees have prepared matters for resolution by the Board.