Organisation & Governance

The corporate governance of Ellevio ensures that the business is managed in a sustainable, responsible and efficient manner. It has been developed through legislation, recommendations and self-regulation.

Ellevio AB (publ) is a public Swedish limited liability company with its head office in Stockholm. At Ellevio, authority, management and governance are allocated among the shareholders, Board of Directors, Chief Executive Officer (CEO) and management team. Ellevio’s corporate governance aims to ensure proper risk and internal control, a defined delegation of responsibilities, a healthy corporate culture, effective decision-making procedures and sound relations with the company’s stakeholders, and thus to contribute to long-term value creation for the company’s shareholders.

The Board of Directors of Ellevio believes that good corporate governance is essential to running a successful business, as it creates the conditions for well-founded decision making and maintaining a high level of confidence among the company’s stakeholders.

Owners and ownership structure

Ellevio AB (publ) is a wholly owned subsidiary of Ellevio Holding 4 AB. The Ellevio Group’s Parent Company is Ellevio Holding 1 AB, which has the following ownership structure:

  • OMERS Infrastructure, 50 percent
  • The Third National Pension Fund, 20 percent
  • Folksam, 17.5 percent
  • AMF, 12.5 percent

The Group also includes Ellevio Holding 2 AB and Ellevio Holding 3 AB.

The annual general meeting is Ellevio’s highest decision-making body, through which Ellevio’s shareholders are entitled to govern Ellevio’s business.

The annual general meeting elects the Board of Directors and the auditors, decides their fees, adopts the income statement and balance sheet, resolves on the allocation of the company’s earnings, grants the Board and CEO discharge from liability, and resolves on other matters pursuant to the law, Articles of Association and shareholder agreement.

The 2020 annual general meeting was held on 28 April 2021 at Ellevio’s head office in Stockholm and through video and phone. All shareholders were represented and the auditors were present. No decisions were taken beyond the ordinary decisions at the annual general meeting. Given the limited amount of owners, neither a notification of nor minutes for the annual general meeting were published on the company’s website.

The overall task of the Board of Directors is to bear responsibility for the organisation and management of operations as well as financial reporting and sustainability reporting. The Board is also tasked with ensuring that Ellevio’s organisation is designed in a manner that assures satisfactory control of accounting, asset management and financial conditions in general.

The Board is also responsible for establishing effective and appropriate systems for governance, internal control and risk management, as well as for establishing guidelines that aim to ensure long-term value creation. Furthermore, the Board should work to ensure that the company act as an example for sustainable business practises in areas such as the environment, ethics, working conditions, human rights, equality and diversity.

The Board has to establish written rules of procedure governing its own work, and these should be revised and confirmed on an annual basis. These include instructions for the Board’s areas of responsibilities and the boundaries versus the Board Committees as well as the CEO.
The Chairman of the Board is in charge of evaluating the work of the Board and reporting to the owners. This is done on an annual basis and aims to provide an overview of the Directors’ opinions on how work is progressing, as well as what changes could be made to enhance efficiency.

Composition of the Board According to the Articles of Association, the Board is to comprise no less than three and no more than ten members, and no more than ten deputies.

Members of the Board

  • Fredrik Persson, Chairman
  • Anna Belfrage
  • Lars Clausen
  • Göran Hägglund
  • Karin Jarl Månsson
  • Michael McNicholas
  • Sten Olsson
  • Tomas Bergquist, employee representative
  • Eyob Yehdego, employee representative

The Board of Directors appoints the CEO, who is responsible for day-to-day management of Ellevio in accordance with the Board’s instructions. The allocation of responsibility between the Board and the CEO is, in addition to the rules that apply to limited liability companies, specified in a directive adopted by the Board of Directors each year.

The CEO’s responsibility includes but is not limited to operation of the business, human resources, finances and accounting and regular contact with Ellevio’s stakeholders, such as government agencies. The CEO is responsible for ensuring that the Board is furnished the information required for decision-making. The CEO delivers monthly reports to the Board covering financial circumstances, significant events and other important information.

The CEO has appointed a Management Team that is in charge of day-to-day operations. The Management Team meets regularly to make decisions about and follow up the business, current projects and other matters and to discuss organisational and human resources issues.

Members of the Management Team

  • Johan Lindehag, CEO
  • Erika Abrahamsson, General counsel
  • David Bjurhall, Senior Vice President, Regulation
  • Susanne Bragée, Senior Vice President, People, Culture & Sustainability
  • Kristofer Fröjd, Senior Vice President, Strategy & Business development
  • Jörgen Hasselström, Senior Vice President, Asset Management & Operation
  • Anna-Karin Käck, Chief FInancial Officer
  • Anna Lidberg, Senior Vice President, Brand & Communications
  • Elisabeth Stjernstoft, Chief Information Officer
  • Emma Thorsén, Senior Vice President, Customer & Market

Text updated: 1 December 2021

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