THE BOARD'S DUTIES
The Board of Directors of Balder consists of people who have broad experience and expertise from the real estate market, business development and financing. Most members have experience from board work in other listed companies. The two largest owners Erik Selin Fastigheter AB and Arvid Svensson Invest AB are represented on the board through Erik Selin and Fredrik Svensson.
The Board decides, among other things, on company signatory power. Balder’s authorized signatories, apart from the Board, are Chairman Sten Dunér and CEO Erik Selin jointly or any one of them in combination with CFO Ewa Wassberg, Director of Economy Eva Sigurgeirsdottir or Head of Personnel and Administration Petra Sprangers.
Articles of association
The Board of Directors of Balder has established rules of procedure regarding the division of work, board meetings and financial reporting, in accordance with the Companies Act and other applicable laws and regulations. The rules of procedure include the following:
The Board’s duties and responsibilities
The Board's overriding duty is to manage the affairs of the company on behalf of the owners so that the owners' interest in a good long-term good return on capital is satisfied in the best possible way.
The Board has responsibility for ensuring that the company's organisation is appropriate and that the operations are conducted in accordance with the articles of association, the Companies Act and other applicable laws and regulations and the formal work plan of the Board. The Board shall perform the Board work collectively under the leadership of the Chairman.
The Board shall also ensure that the CEO fulfills his duties in accordance with the Board's guidelines and instructions. These may be found in the instructions to the CEO drawn up by the Board.
Board meetings
The Board shall, in addition to the statutory board meeting, hold board meetings on at least four occasions annually.
The CEO and/or Director of Economy shall shall as a general rule present a report to the Board. The company's employees, auditor or other external consultant shall be called in to board meetings in order to participate and report on matters as required.
The Board has a quorum if more than half of the number of Board members are present. The Chairman has the casting vote in the event that there is no clear majority.
