Board of Directors

The Board of New Wave Group consists of five members elected by the AGM. The Board’s working procedures are defined in the rules of procedure, which regulate the delegation of responsibility between the Board and the CEO, the CEO ’s authority, the m eeting schedule and reporting routine.

The Board meetings deal with budgets, interim reports, year-end accounts, state of business, investments and new launches. They also deal with general issues relating to the long-term business strategy as well as structural and organisational issues.

The working language of the Board’s meetings and documentation is Swedish. As a rule, between seven and twelve Board meetings are held each year. During 2017, the Board met on ten occasions. Göran Härstedt is the Board’s secretary.

The Chairman organises and leads the Board’s work so that this is carried out in accordance with the Swedish Companies Act, other legislation and regulations, applicable rules for listed companies, Including the Code, and the Board’s other internal control instru - ments. The Chairman follows operations in dialogue with the C EO and is responsible for other Board members receiving the information required to complete the Board’s tasks.

Independence of the Board

The New Wave Group Board is subject to the requirements for independence described in the Code. The requirements mainly involve that only one person from the company’s management may be a member of the board, that a majority of the elected members of the board shall be independent of the company and its management, and that at least two of the elected members who are independent of the company and its management should also be independent of the company’s major shareholders.

As CEO and major shareholder of New Wave Group, Torsten Jansson is considered to be dependent on the company and the company management. Olof Persson, Christina Bellander, Mats Årjes and M.Johan Widerberg are consi - dered to be independent in relation to both the company and the c ompany’s major shareholder. It is thus the opinion of the nomination committee that the current composition of the New Wave B oard satisfies the requirements for independence laid down in both the Code and in the rules and regulations of NASDAQ OMX Stockholm for issuers.

Olof Persson, born 1964
Chairman of the Board since 2016.

Former CEO and Group CEO of AB Volvo (2011-2015), CEO of Volvo Construction Equipment (2008-2011) and CEO of Volvo Aero (2006-2008). Active as Senior Operating Executive at Cerberus Operations and Advisory Company UK Ltd.

Other directorships:
Chairman of Staples Solutions B.V. member of the Board of The Swedish Exhibition & Congress Center Group.

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Christina Bellander, born 1962
Member of the Board since 2009.

Other directorships:
Member of the Board of MittMedia AB, Novus Group and Kunskapsskolan Education Sweden AB.

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M. Johan Widerberg, born 1949
Member of the Board since 2014.
Has previously held a number of positions within Svenska Handelsbanken.

Other directorships:
Chairman of the Board of AB Handel och Industri AB, Member of the Board of Thomas Concrete Group AB, Handelsbanken Västra Sverige, Stena Metall AB, Stiftelsen Chalmers University of Technology, Gothenburg Research Institute and SSRS Sjöräddningssällskapet, Member of Advisory Board Handelshögskolan i Göteborg and Secretary General of Börssällskapet.

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Mats Årjes, born 1967
Member of the Board since 2007.

Other directorships:
Chairman of the Swedish Ski Association, Member of the Board of SkiStar AB.

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Torsten Jansson, born 1962
MD and CEO. Founder and majority shareholder in New Wave Group AB. Member of the Board since 1991.

Other directorships:
Chairman of the Board of Porthouse Interior AB.