The Board of Directors is ultimately responsible for the company’s organisation and administration. This responsibility includes Alligo’s sustainability work and the company’s impact on the economy, environment, and people.
Duties of the Board
The work of the boards includes, for example:
- Establishing and monitoring the company’s overall goals and strategies
- Ensuring that there are effective systems for the monitoring and control of the business and associated risks.
- Identifying the impact of sustainability issues on the company’s risks and business opportunities
- Adopting guidelines on the company’s conduct in society in order to secure its ability to create long-term value.
- Ensuring that the company’s provision of information is characterised by transparency and is accurate, relevant and reliable.
- Together with the CEO, presenting the annual accounts to the Annual General Meeting.
The Board is also responsible for decisions regarding acquisitions and divestments of businesses, major investments, repurchases of own shares, and appointment and remuneration of the Group’s corporate management.
The Board has also issued instructions to the CEO, which grant the authority to make decisions regarding investments, corporate acquisitions, and sales as well as financing issues.
Rules of procedure and distribution of responsibilities
Each year, the Board adopts written rules of procedure that regulate the work of the Board and its internal distribution of responsibility, including its committees and the distribution of responsibilities with internal business area boards, the procedure for resolutions within the Board, the agendas of Board meetings and the duties of the Chair as well as instructions for financial reporting.
Monitoring and control
The Board of Directors oversees the work of the CEO through ongoing monitoring of the business during the year and is responsible for ensuring that the organisation, management, and guidelines for the administration of the company’s affairs are appropriate.
The Board is also responsible for the company having adequate internal control and effective systems for the monitoring and control of operations and for the company’s compliance with legislation and regulations applicable to its operations.
Evaluation of the Board’s and CEO’s work
The work of the Board is evaluated annually under the supervision of the Chairman. The purpose of this evaluation is to enhance the working methods and efficiency of the Board of Directors by obtaining their opinions on how the Board work is carried out and which steps can be taken to improve the efficiency of the work. Other areas included in the evaluation relates to sustainable enterprise and on whether the Board is well balanced in terms of skills.
The Board evaluates the work of the CEO on an ongoing basis. This issue is also specifically addressed once a year without the presence of any member of the Group’s corporate management.