Management

The CEO is subordinate to the board of directors and is responsible for the company’s day-to-day management and the day-to-day operation of the business. The division of responsibilities between the board of directors and the CEO is set out in the rules of procedure of the board of directors and the instruction for the CEO. The CEO is also responsible for preparing reports and compiling information from management prior to board meetings and is responsible for reporting on the material at board meetings. The CEO must ensure that the board of directors receives appropriate information to be able to evaluate the company’s financial position on an ongoing basis.