Board of Directors and its work

The Board of Directors
The Board of Directors is responsible for the organization of the Company and the management of the Company’s affairs. The Board shall assess the financial situation of the Group on an ongoing basis.

This work is headed by the Chairman of the Board who is appointed by the Annual General Meeting. Catena’s Board comprises competence and experience from areas that are of great significance to the Board’s ability to support, monitor and follow the operations in a leading property company in Sweden.

The members of the Board possess knowledge in properties, the property market, financing and business development. The Board of Directors fulfills the Stockholm Stock Exchange’s listing requirement that not more than one Board member may work actively in the daily operations, that at least half of the members must be independent from the Company and that at least two members must be independent from the Company’s major shareholders.

Formal work plan
The Board of Catena works in accordance with a formal work plan containing instructions regarding the division of duties and responsibilities, and financial reporting. The formal work plan constitutes a supplement to the provisions of the Swedish Companies Act and Catena’s Articles of Association, and is subject to annual review. According to this work plan, the Board shall ensure that the CEO fulfills his duties. The performance of the CEO is assessed annually and is compared against established long and short-term objectives. According to the formal work plan, it is the responsibility of the Chairman of the Board to follow the development of Catena, through contact with the CEO, and to ensure that the CEO provides the members of the Board with the information that they require. The Chairman of the Board shall also consult with the CEO in strategic issues and ensure that the handling of issues does not conflict with the provisions of the Companies Act or the Articles of Association

Committees
Audit Committee
Catena’s Board of Directors has appointed an Audit Committee. The Audit Committee comprises all of the Board members who are not members of company management.

Remuneration Committee
Catena’s Board of Directors has appointed an Remuneration Committee. The Remuneration Committee comprises Henry Klotz, Bo Forsén and Katarina Wallin.

Nomination Committee
The duties of the Nomination Committee, among others, is to submit proposals for Board members, the Chairman of the Board, Board fees and Auditors. At the 2016 Annual General Meeting, it was decided to adopt Instructions for the Nomination Committee according to which the composition of the Nomination Committee will be published not later than six months prior to the Annual General Meeting, and will be based on the known ownership immediately before then. Furthermore, the Nomination Committee shall comprise one representative from each of the four major shareholders, whereby the representative for the principal shareholder will be elected as the Chairman of the Nomination Committee.