Alfa Laval - Corporate governance

Corporate governance

Alfa Laval is a public company listed on the NASDAQ OMX Exchange Stockholm and as such, its governance is subject to a number of laws and regulations. The most important of these are the Swedish Companies Act, the Swedish Annual Accounts Act, the rules of the exchange and the Swedish Corporate Governance Code (“the Code”). Alfa Laval’s corporate governance complies with the Code, with only one exception.

The external regulations are supplemented by internal ones, which include the company’s Business Principles, governing documents, such as guidelines and instructions as well as procedures for control and risk management. In addition, the work of the Board and the president is governed by formal work plans.

 

Archives

AGM documents

2013-2014

Speech by President and CEO Lars Renström 2016-10-25 142 kB
Presentation (in Swedish) 2016-10-25 15816 kB
Minutes 2016-10-25 68 kB
Exhibit 3 2016-10-25 1013 kB
Exhibit 4 2016-10-25 970 kB
Exhibit 5 2016-10-25 958 kB
Notice 2016-10-25 65 kB
The nomination committee's reasoned statement as regards proposal of board of directors in Alfa Laval AB (publ) 2016-10-25 20 kB
Proxy 2016-10-25 13 kB
Decision data 2016-10-25 110 kB
Statement according to ABL 18:4 2016-10-25 61 kB
Auditor's report 2016-10-25 118 kB
Remuneration Committee's Evaluation 10.3 2016-10-25 53 kB
Statement according to ABL 19:22 2016-10-25 57 kB
Corporate governance report 2016-10-25 379 kB
Alfa Laval’s Board of Directors withdraws buy-back proposal 2016-10-25 21 kB
Speech by President and CEO Lars Renström 2016-10-25 35 kB
Presentation (in Swedish) 2016-10-25 2705 kB
Minutes 2016-10-25 684 kB
Exhibit 3 2016-10-25 355 kB
Exhibit 4 2016-10-25 450 kB
Exhibit 5 2016-10-25 440 kB
Notice 2016-10-25 67 kB
The nomination committee's reasoned statement as regards proposal of board of directors in Alfa Laval AB (publ) 2016-10-25 18 kB
Regarding the proposal for adding a new member to the board of directors - presentation of Ulf Wiinberg 2016-10-25 16 kB
Presentation of proposed Directors of the Board 2016-10-25 168 kB
Minutes from AGM April 26, 2017.pdf 2017-05-10 1214 kB
Decision proposal 2016-10-25 64 kB
Statement according to ABL 18:4 2016-10-25 26 kB
Auditors report 2016-10-25 223 kB
Remuneration Committee Evaluation 2016-10-25 24 kB
Statement according to ABL 19:22 2016-10-25 22 kB
Proxy 2016-10-25 19 kB
Corporate governance report 2016-10-25 392 kB

Board of directors

Alfa Laval's Board of Directors consists of eight elected members, with no deputies, and three employee representatives, with three deputies.

Elected by the Annual General Meeting

Dennis Jönsson

Chairman since 2020.

Born: 1956.
Formerly President and CEO of Tetra Pak.
Education: BSc. Econ from Stockholm University.
Independent of the company.
Number of shares in Alfa Laval: 210,000. 

Henrik Lange

Board member since 2018.

Born: 1961.
Previously President and CEO of Gunnebo AB, held several senior positions within the SKF Group, including Industry Division Manager and CFO, and served as CEO of Johnson Pump AB.
Education: BSc. Econ. from the Gothenburg School of Business, Economics and Law.
Board member: Velux A/S, IPCO AB, Thomas Concrete AB, Traction AB and the German-Swedish Chamber of Commerce.
Independent of the company and major shareholders.
Number of shares in Alfa Laval: 4,000.

Finn Rausing

Board member since 2000.

Born: 1955.
Education: B.L., MBA from INSEAD.
Board member: Tetra Laval Group, DeLaval Holding AB, EQT AB, Swede Ship Marine AB and Excillium AB.
Independent of the company. 
Number of shares in Alfa Laval: -

Jörn Rausing

Board member since 2000.

Born: 1960.
Head of Mergers and Acquisitions (M&A) in the Tetra Laval Group.
Education: BSc. Econ.
Board member: Tetra Laval Group, Ocado PLC and DeLaval Holding AB.
Independent of the company.
Number of shares in Alfa Laval: -

Maria Moraeus Hanssen

Board member since 2019.

Born: 1965.
Previously COO, Vice President/CEO of Wintershall Dea Holding GmbH and President and CEO of DEA Deutsche Erdoel AG.
Held several executive positions in ENGIE SA, Aker ASA, Statoil ASA (now Equinor ASA) and Norsk Hydro ASA.
Education: Petroleum technology at the Norwegian University of Science & Technology (NTNU), and petroleum economics at IFP School in Paris, France.
Chairman at Oslobygg KF and Wastefront AS
Board member in Schlumberger limited and Scatec ASA.
Independent of company and major shareholders.
Number of shares in Alfa Laval: 0

Heléne Mellquist

Board member since 2019.

Born: 1964.
CEO of Volvo Penta.
Previous positions include CEO of Rederi AB Transatlantic and a number of senior positions at Volvo Trucks, Volvo Buses and Volvo Penta.
Education: Diploma in International Economy from the University of Gothenburg, Executive Program Stockholm School of Economics.
Board member of Thule Group AB.
Independent of company and major shareholders.
Number of shares in Alfa Laval: 0

Ulf Wiinberg

Board member since 2013.

Born: 1958.
President of X-Vax Inc. Formerly CEO of H. Lundbeck A/S, Director of Wyeth Pharmaceuticals, EMEA/Canada & BioPharma, and a number of other senior positions in Wyeth.
Chairman of the Board: Hansa Biopharma AB and Sigrid Therapeutics.
Board member: UCB Pharma and Agenus Inc.
Independent of the company and major shareholder.
Number of shares in Alfa Laval: 20,000.

Ray Mauritsson

Board member since 2020.

Born: 1962.
President and CEO, Axis AB.
Former positions include several different leading positions in Axis Communications AB and Tac (today part of Schneider Electric).
Education: MSc. Engineering Physics, Lund University Faculty of Engineering. Executive MBA, Lund University School of Economics.
Independent of the company and of major shareholders.
Number of shares in Alfa Laval: 0.

Lilian Fossum Biner

Board member since 2021.

Born 1962
Previously CFO at Axel Johnson AB and Senior Vice President and Head of HR and Organizational Development for Electrolux Group.
Education: BSc. Econ. Stockholm School of Economics.
Board member: L E Lundbergföretagen AB, Scania AB, Carlsberg Group A/S, Givaudan SA and a-connect AG.
Independent of the company and major shareholders.
Number of shares in Alfa Laval: 0.

Employee representatives

Bror García Lantz

Employee representative since 2012.

Born: 1965.
Employed by Alfa Laval since 1990.
Employee representative for the Swedish Union of Clerical and Technical Employees in Industry (Unionen).
Number of shares in Alfa Laval: 100.

Henrik Nielsen

Employee representative since 2015.

Born: 1968.
Employed by Alfa Laval since 1994.
Employee representative for the Swedish Metal Workers’ Union (IF Metall).
Number of shares in Alfa Laval: 50.

Johan Ranhög

Employee representative since 2021.

Born: 1964.
Employed by Alfa Laval since 2016.
Employee representative for the Swedish Confederation of Professional Associations (SACO).
Number of shares in Alfa Laval: 100.

Group management

tom erixon 150x150.pngTom Erixon 

President and CEO.

Born: 1960.

CEO since March 1, 2016.

 

Former positions include President and CEO of OVAKO AB and President of Sandvik Coromant.

Board member of Boliden AB.

Education: MA Law from the University of Lund in Sweden and MBA Business Administration from IESE in Spain.

Number of shares in Alfa Laval: 101,200.

Jan Allde Chief Financial OfficerJan Allde

Chief Financial Officer

Born: 1967.

Employed by Alfa Laval since 2018.

 

Chief Financial Officer since 2018. Former positions include several international positions in ABB from 1991 to 2017, most recently as Chief Financial Officer for the Americas.

Education: BSc, Econ from Stockholm University.

Number of shares in Alfa Laval: 10,000.

Mikael Tydén OperationsMikael Tydén

President, Operations Division

Born: 1967.

Employed by Alfa Laval since 1995.

 

President of the Operations Division since January 2017. Former positions include head of global manufacturing and supply of separators, decanters, hygienic fluid handling equipment and air heat exchangers 2005-2016.

Education: Ms. Mech. Eng.

Number of shares in Alfa Laval: 1,000.

Susanne Pahlén ÅklundhThomas Møller

President, Energy Division.

Born: 1974.

Employed by Alfa Laval since 2002.

 

President of the Energy Division since 2021. Former positions include President Business Unit Decanters, Water & Waste Segment Manager and Market Unit Power Manager.

Education: BSc. Eng.

Number of shares in Alfa Laval: 1,106.

Nish Patel Food & WaterNish Patel

President Food & Water Division

Born: 1962.

Employed by Alfa Laval since 1984.

 

Former positions include Executive Vice President in charge of the Western Europe and North America Regions, and Head of India and the UK.

Education: BSc. Eng.

Number of shares in Alfa Laval: 47,552.

Sameer Kalra President, Marine DivisionSameer Kalra

President, Marine Division

Born: 1962.

Employed by Alfa Laval since 2011.

 

Previously Head of the Pumping Systems and Offshore business units.

Education: Marine engineer and MBA.

Number of shares in Alfa Laval: 2,000

Joakim Vilson Global Sales and ServiceJoakim Vilson

Senior Vice President, Global Sales & Service

Born: 1965

Employed by Alfa Laval since 1990.

 

Former positions include Executive Vice President in charge of the Central and Eastern Europe, Latin America, Middle East and Africa Regions, Head of Mid Europe Region and Head of the Process Industry segment.

Education: BSc. Eng.

Number of shares in Alfa Laval: 6,520.

Pascale Gimenez HRPascale Gimenez

Senior Vice President, Human Resources

Born: 1966.

Employed by Alfa Laval since August 1st, 2018.

 

Former positions include Senior Vice President of Human Resources at various units within Sandvik and Electrolux.

Education: Master's degree in marketing from ESSEC Business School and a degree in engineering from the Institut Supérieur Agricole de Beauvais.

Number of shares in Alfa Laval: -

Emma Adlerton

General Counsel & Secretary to the Board of Directors.

Born: 1973

Employed by Alfa Laval since 2008.

 

General Counsel and Secretary to the Board of Directors since 2015, President of Group Legal & Sustainability. Former positions include senior legal counsel in the Alfa Laval Group and attorney at law.

Education: Master Laws (LL.M), Lund University.

Number of shares in Alfa Laval: 1,000

Auditors

In Alfa Laval’s judgment, none of these auditors has any relationship to Alfa Laval, or a company close to Alfa Laval, that could affect their independent status in relation to the company.

Ordinary auditors

Staffan Landén
Authorized Public Accountant, EY.
Born: 1963.
Elected auditor at the Annual General Meeting 2018.

Karoline Tedevall
Authorized Public Accountant, EY.
Born: 1978.
Elected auditor at the Annual General meeting 2018.

Deputy auditors

Henrik Jonzén
Authorized Public Accountant, EY.
Born: 1977.
Elected deputy auditor at the Annual General Meeting 2018.

Andreas Mast
Authorized Public Accountant, EY.
Born: 1979
Elected deputy auditor at the Annual General Meeting 2020.

Committees

Audit Committee

Areas of responsibility

The Audit Committee ensures compliance with the principles for financial reporting and internal control. The Committee formulates guidelines for the company’s financial reporting and follow-up, and has the right to determine the focus of the internal audit. The Committee examines the procedures for reporting and financial controls, as well as the work, qualifications and independence of the external auditors. For further information regarding the responsibilities of the Audit Committee, refer to “The Board of Directors’ report on internal control".

Board of Director's report on internal control

Members

Members are appointed annually at the Board’s statutory meeting. In 2021, the Committee comprises Henrik Lange (Chairman), Heléne Mellquist and Dennis Jönsson.

Remuneration Committee

Areas of responsibility

The Remuneration Committee is involved in recruitment, appointments, and matters pertaining to other conditions of employment relating to the President and Group management. The Committee is responsible for preparing the guidelines for remuneration to senior executives to be resolved on by the Annual General Meeting and for submitting motions to the Board of Directors regarding salary and employment terms for the President. In addition, the Committee addresses matters regarding salary and employment terms for senior executives who report directly to the President.

Members

The Remuneration Committee is appointed annually at the Board’s statutory meeting. In 2021, the Committee comprises Dennis Jönsson (Chairman), Jörn Rausing and Ulf Wiinberg. 

The Swedish Code of Corporate Governance

The Swedish Code of Corporate Governance is an important component in the self-regulation of Swedish business and aims to improve corporate governance within the Swedish listed companies. It complements the Swedish Companies Act and other legislation.

The Swedish Corporate Governance Board issued a revised version of the code which was applicable from January 1, 2020. To this should be added Instructions issued by the Swedish Corporate Governance Board. These you can find at www.corporategovernanceboard.se. The Swedish code is based on the principle "comply or explain" which means that a company can deviate from the code's provisions as long as it clearly shows and explains why.

Read the complete code in the downloadable PDF

 

Articles of Association

The Articles of Association were approved at the Annual General Meeting of shareholders on 27 April 2021.

Download here

 

Nomination committee instruction

Download here