11.1 The remuneration of the board of directors should reflect the board’s responsibility, expertise, time commitment and the complexity of the company’s activities.
11.2 The remuneration of the board of directors should not be linked to the company’s performance. The company should not grant share options to members of its board.
11.3 Members of the board of directors and/or companies they are associated with should not take on specific assignments for the company in addition to their appointment as a member of the board. If they do nonetheless take on such assignments, this should be disclosed to the full board. The remuneration for such additional duties should be approved by the board.
11.4 The annual report should provide information on all remuneration paid to each member of the board of directors. Any remuneration in addition to the normal directors’ fees should be specifically identified.
A proposal for the remuneration is submitted by the nomination committee. Remuneration of members of the board of directors is not linked to financial results, option programs or similar. We also refer to the relevant note in the 2007 annual report concerning fees to the observers and the board.
The same note outlines which members of the board have taken on special duties for the company in addition to their board duties.
The company has no deviations from the code of practice.