Board Members Discussing a Corporate Decision - Investors - AAK

The Board

The tasks of the Board are regulated in the Swedish Companies Act and the Articles of Association. The work of the Board is regulated by working practices adopted by the Board each year.

The procedural rules of the Board also regulate the distribution of work and responsibilities between the Board, the Chairman of the Board, and the CEO. The rules also include procedures for financial reporting by the CEO to the Board.

Composition of the Board

In accordance with the Articles of Association, AAK’s Board of Directors shall consist of at least three and at most ten members. Board members are elected annually by the Annual General Meeting for the period until the next Annual General Meeting.

In accordance with legislation, employee organizations have a right to be represented on the Board, and have appointed two ordinary members and two deputies.

Patrik Andersson

Chairman of the Board, Chairman of the Remuneration Committee and member of the Audit Committee

Year elected

2019 (Chairman since 2023)

Born

1963

Nationality

Swedish

Other board positions

Chairman of Midsona AB, Sesol AB and Cary Group AB. Board member of Ecolean AB.

Experience

President and CEO Loomis. President of Orkla Foods Sverige, CEO and President of Rieber & Son, President of Wasabröd globally within Barilla Group, and various senior positions at Unilever Group.

Qualifications

MSc. Business Administration and Economics - International Business

Dependence

No

Holdings*

3710 shares

Märta Schörling Andreen

Board member, member of the Audit Committee and member of the Remuneration Committee

Year elected

2013

Born

1984

Nationality

Swedish

Other board positions

Board member of Melker Schörling AB, HEXPOL AB, Hexagon AB and Absolent Group AB.

Experience

Board member of Melker Schörling AB, HEXPOL AB, Hexagon AB, and Absolent Group AB.

Qualifications

MSc. Business Administration

Dependence

Yes. Dependent in relation to the company’s major shareholders through her assignment on behalf of AAK’s main owner Melker Schörling AB.

Holdings*

78,774,412 shares (through Melker Schörling AB)

Nils-Johan Andersson

Board member and Chairman of the Audit Committee

Year elected

2023

Born

1962

Nationality

Swedish

Other board positions

Board member of Hexpol AB, Absolent Group AB and Greenbridge. Member of the investment committee of Spira Invest.

Experience

CEO of Melker Schörling AB. Prior to that, he was CFO at MSX International, CFO at Bravida, CFO and Head of business area Ventilation at Lindab and has in addition thereto held various finance positions within Boliden and Munksjö.

Qualifications

MSc Economics and Business Administration.

Dependence

Independent in relation to the company and its management but dependent in relation to a major shareholder of the company.

Holdings

1,600

Fabienne Saadane-Oaks

Board member

Year elected

2023

Born

1958

Nationality

French

Other board positions

Non-executive director of Fermentalg, Roal Oy and Fytexia Group and member of the Comité Sully.

Experience

CEO of ABF Ingredients, a division of Associated British Foods. Prior to that, she has held various management positions within Dupont, Danisco, Rhodia, SKW/Degussa Group and Sanofi Bio-Industries.

Qalifications

Master in Mechanical Engineering from ENSTA and an MBA from ESSEC.

Dependence

No

Holdings*

None

Ian Roberts

Board member

Year elected

2023

Born

1970

Nationality

British

Other board positions

Chairman of Restor, President and MassChallenge Switzerland. Board member of MassChallenge Global.

Experience

Previous working experiences include, among others, various management positions within Nestlé.

Qualifications

Ph.D. in Process Engineering, a Master of Science in Chemical Engineering and a Bachelor of Engineering in Biochemical Engineering from the University of Wales, Swansea, United Kingdom.

Dependence

No

Holdings*

None

Board members appointed by the employees

David Alfredsson

Employee representative

Year elected

2022

Appointed by

IF Metall

Born

1994

Nationality

Swedish

Experience

Various labor union positions in AAK and in the regional labor union

Qualifications

Upper secondary school

Holdings*

None

Position

Chief safety representative

Lena Nilsson

Employee representative

Year elected

2018

Appointed by

PTK-L

Born

1960

Nationality

Swedish

Position

Marketing Coordinator

Experience

Vice Chairman local trade union, Deputy to Work environment representative, Work environment representative local trade union.

Qualifications

Upper secondary school

Holdings*

None

Auditor — KPMG AB

Jonas Nihlberg

Authorized Public Accountant and KPMG partner since 2015

The Company’s Auditor since

2021

Born

1973

Nationality

Swedish

Other auditing assignments

Hansa Biopharma AB and NIBE Industrier AB

*Holdings as of February 19, 2024.

Learn more

Row of Chairs Along a Wall in Different Colours - Investors - AAK

Nomination Committee

The task of the Nomination Committee is to make proposals to the Annual General Meeting regarding election of the Chairman and other members of the Board, and of the Chairman of the Annual General Meeting.
Trees and sky seen from underneath - Investors - AAK

Corporate Governance

The aim of AAK’s corporate governance is to define a clear allocation of responsibility and roles between the owners, the Board, the Executive management team, and various control bodies.