Corporate Governance

The Board is elected by the Annual General Meeting. All board members are elected until the next Annual General Meeting. A board member is entitled to resign from the Board at any time. An authorized public accountant or a registered public accounting firm may be elected by an Annual General Meeting. Auditors are normally appointed for more than one year. The Company does not appoint a nomination committee. Individual shareholders present proposals to board members or other elected board representatives prior to announcement of the Notice of the Annual General Meeting.

The CEO is appointed by the Board and has principal responsibility for the ongoing management and daily operation of the Company. Distribution of work between the Board and CEO is stipulated in the formal work plan of the Board and instructions to the CEO. The CEO is also responsible for the preparation of reports and the compilation of information from management prior to Board Meetings and presents the material at Board Meetings.

Swedish Corporate Governance Code

Panion is not required to comply with the Swedish Corporate Governance Code and has not opted to voluntarily comply with it. The Company appoints no audit committee or remuneration committee.


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