Board of Directors’ work 2015

The Board held 22 meetings in 2015. The attendance of each board member at these meetings is shown on pages 46–47 in the Annual Report 2015. Eniro’s General Counsel, Lina Söderström, serves as secretary at board meetings.

At the regular board meetings, the CEO reported on the Group’s results and financial position, including a forecast for the coming quarters.

Important matters addressed by the Board during the year included the following, among others:

  • the company’s management, earnings and financial position
  • funding issues, including the raising of capital and renegotiation of the company’s bank borrowing agreement
  • downward adjustment of forecast
  • the matters being reviewed by the Nasdaq Stockholm Disciplinary Committee
  • monitoring of quality assurance and revenue recognition, and of roles and responsibilities
  • internal control
  • measures in view of the AGM’s decision to not grant discharge from liability to the former CEO
  • settlement of dispute with the former CEO over severance pay
  • strategic issues, restructuring and organizational matters
  • the company’s product and service offering
  • agreements and investments, including a new lease for the company’s headquarters
  • impairment of goodwill.

The Board conducts an annual evaluation of its work under the direction of the Chairman of the Board. This evaluation covers the focus of the Board’s work, the Board’s forms of working, and its work climate. The evaluation is also focused on assessing the need of expertise on the Board. The aim is to develop the Board’s work and provide documentation to the Nomination Committee.

In 2015 the board members submitted written assessments on how the board work was conducted during the year based on the parameters described above. In addition, the Board discussed the forms of its work in connection with board meetings during the year. The result of this evaluation was reported to the Nomination Committee chair.