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Byggmax Group AB (publ) is a Swedish public limited liability company. Corporate governance refers to the rules and regulations as well as the existing structure established for managing and leading business activities in a limited company with an efficient and controlled approach. Ultimately, corporate governance aims to meet shareholder requirements in respect of return and to provide all stakeholders with adequate and correct information about the company and its development.
Corporate governance in listed Swedish companies is regulated by a combination of written rules and established practice. The regulatory framework comprises the Swedish Companies Act, the Stockholm Stock Exchange’s rules and the Code (the applicable Swedish corporate governance code). Byggmax applies the Swedish Corporate Governance Code. Companies covered by the Code are required to clearly disclose any deviation from the Code, including the underlying reasons. Any deviations from the Code by Byggmax and their motivations are detailed on an ongoing basis in the corporate governance report. Information about the Swedish Corporate Governance Code is available from the website of the Swedish Corporate Governance Board: www.corporategovernanceboard.se
In 2018, a separate audit committee was appointed. The committee consists of Gunilla Spongh (Chairman), Ullrika Eliasson, and Daniel Mühlbach. The Audit Committee monitors the financial reporting. The committee meets with the company auditors three times annually, to review audit plans and audit reports. At the meetings, the committee is given the opportunity to meet with the auditor without the presence of the CEO.
Organizational chart – Corporate governance
The management and control of the Byggmax Group is distributed between the shareholders at the Annual General Shareholders’ Meeting, the Board and the President in line with the Swedish Companies Act and the Articles of Association. The following organizational chart illustrates the company’s structure for corporate governance.