The Board of Directors
In accordance with Scandic’s Articles of Association, the Board of Directors shall consist of three to eleven members and not more than two deputies appointed by the shareholders at the AGM.
The Board of Directors currently consists of eight members who were elected at the AGM held on May 7, 2019 (of which six were re-elected by the AGM 2019). In addition, there is one employee representative and one deputy employee representative appointed to the Board of Directors.
Eight members of the Board of Directors elected by the AGM are considered to be independent of the company and senior management. Six members of the Board of Directors elected by the AGM who are independent of the company and the senior management are also independent of the company’s principal shareholders.
Thus, Scandic meet the requirements of the Code regarding the independence of the Board in relation to the company, the senior management and the companys’s principal shareholders.