The work of the Board
The Board of Directors' duties include formulating strategies and taking decisions on strategic issues and in matters involving the company’s capital procurement and management.
In accordance with the Swedish Companies Act, the Board's responsibilities include among others the organization and the management of the company’s affairs and the continuous assessment of the company’s and Group’s financial position.
The board shall also decide on other matters of a general nature or of particular significance, budgets and business plans, financial statements, appointing the company’s president and ensuring that the president fulfills his or her obligations, including implementation of all Board decisions and guidelines.
Rules of procedures for the board of directors
The Board has adopted a set of rules of procedure to govern its activities, instructions for the president and instructions on reporting. In accordance with the rules of procedure, it is the duty of the Chairman to ensure that the work of the Board is conducted in an effective manner and that the Board fulfills its obligations.
Board meetings
According to its rules of procedure, the Board shall hold six regular meetings annually, one of which is the statutory meeting. Four Board meetings are coordinated with the publication dates of the external financial reports, while one is held in December and involves a review of the business plan and budget. In addition, each year the Board holds a two-day meeting on strategic issues.
Extra meetings may be held to deal with issues that cannot be dealt with at regular board meetings.
Board of Directors’ work during 2011
During the year, the Board held 14 meetings, of which one by telephone and five by per capsulam. At the ordinary Board meetings, the President and CEO reported on the Group’s results and financial position, including the outlook for the quarters ahead.
The major matters addressed by the Board during the year included follow-up work on the rights issue that was implemented during the final quarter of 2010, strategy matters, corporate governance matters, the brand platform and the introduction of
new Board Members. Other matters addressed included agreements and investments, as well as acquisitions and divestments.
A number of strategic transactions were completed during the second half of 2011, including:
• Agreement with Google™, which was signed during November
and meant that Eniro became an authorized reseller of
Google Adwords™ in Sweden, Norway and Denmark.
• Acquisition of specific assets from the bankruptcy estate of De
Gule Sider A/S in Denmark, which enhanced Eniro’s position
as the leading online/mobile player in the Danish search
market.
Attendance at Board and Committee meetings during 2011
Click on the picture to get a bigger format.
Last updated:2012-05-10