Directors of the Board

3.1 Chairman of the Board

  • The recommendation found in Section 3.1.1 now states that the procedural rules of the board shall contain provisions describing the duties and responsibilities of the Chairman of the Board.
  • In the same Section it is now stated that the Chairman of the Board shall help ensure that the procedures of the Board are in conformity with legislation, regulations and good corporate governance and that the Board is provided with the best possible working conditions.
  • A recommendation stating that the Chairman of the Board should encourage open communication within the Board and between the Board and the Company’s management has been removed.

3.2 Directors

  • A new recommendation in Section 3.2.1 states that Directors should have sufficient time to execute their duties with integrity.
  • In Section 3.2.4 it is now stated: ‘Board members shall have access to independent expert consultants at the expense of the company, if they consider it necessary to make independent and informed decisions‘.