The CEO is subordinated to the board of directors and is responsible for the everyday management and operations. The CEO leads the Group Management’s work and makes decisions pertaining to the operations in consultation with other senior executives.

The CEO’s work

The division of work between the board of directors and the CEO is set out in the rules of procedure for the board of directors and the CEO’s instructions. The CEO is also responsible for the preparation of reports and compiling information for the board meetings and for presenting such materials at the board meetings.

According to the instructions for the financial reporting, the CEO is responsible for the financial reporting and consequently must ensure that the board of directors receives adequate information for the board of directors to be able to evaluate the company’s financial condition.

The CEO must continuously keep the board of directors informed of developments in the company’s operations, the development of sales, the company’s result and financial condition, liquidity and credit status, important business events and all other events, circumstances or conditions which can be assumed to be of significance to the company’s shareholders.