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.

 

Annual General Meeting in Alfa Laval AB (publ)

 

Please register to the AGM here.

The Annual General Meeting of Alfa Laval AB (publ) (Reg. No. 556587-8054) is held on Thursday 23 April 2020 at 4.00 p.m. CET at Scandic Star Lund, Gastelyckan, Glimmervägen 5, Lund, Sweden. Registration for the general meeting begins at 3.15 p.m. CET.

 

Notice to attend

Notice to attend has been announced in the Swedish Official Gazette (SW. “Post- och Inrikes Tidningar”) and on this website. To the right you find the notice to attend and other documents related to the Annual General Meeting 2020. The notice to attend will be sent to shareholders who so request, without any costs. 

 

Special arrangements due to the risk of spreading the COVID-19 infection

At the date of the notice, the Public Health Organization of Sweden, considers the risk of the COVID-19 infection being spread, as very high. A priority for Alfa Laval is to protect the company’s shareholders and their opportunity to exercise their rights as shareholders at the Annual General Meeting. As a result of this, Alfa Laval has decided to implement special measures at the Annual General Meeting on 23 April 2020. Among other things, no food and beverages will be served in connection with the general meeting and the usual tour of the production facility is cancelled. Furthermore, the company’s CEO presentation will be recorded in advance and published on this website in connection with the opening of the general meeting. Only a short presentation will be given by the CEO at the general meeting. Any shareholder with questions to the CEO have the opportunity to submit such questions in advance to arsstamma.lund@alfalaval.com. The questions will be answered in connection with the pre-recorded CEO presentation or in writing on this website.

 

For the Annual General Meeting 2020, the time for registration will be changed from 3.30 p.m. to 3.15 p.m. Please note that queue formation and congestion at the registration will increase if everyone arrives just before the opening of the general meeting.

 

Further information about the special arrangements can be found in the notice to attend.

 

Shareholders displaying any symptoms of illness, who have recently travelled to or from a risk area, or who are considered to be part of a risk group, are requested to refrain from attending the general meeting and to vote via proxy. Proxy forms are found to the right. Please note that Alfa Laval is not permitted to gather powers of attorney and act as proxy. However, Alfa Laval would like to inform that Euroclear Sweden AB offers a proxy solution for individuals, thus it is possible for shareholders to give a power of attorney and voting instructions to a proxy appointed by Euroclear Sweden. For further information, please contact Euroclear Sweden AB at https://anmalan.vpc.se/fullmakt/.

 

The extent of the continued spread of the COVID-19 infection remains difficult to estimate and Alfa Laval monitors the development carefully. In the event that further changes concerning the Annual General Meeting are needed, information will be published on this website.

 

Right to participate

Shareholders who wish to participate in the general meeting and have the right to vote shall

  • be registered in the share register maintained by Euroclear Sweden AB on Friday 17 April 2020, and
  • notify participation to Alfa Laval AB – together with any advisors (at the most, two) – no later than on Friday 17 April 2020, preferably before 12.00 noon.

 

In addition, a shareholder with nominee-registered shares must have the shares registered in its own name in the share register maintained by Euroclear Sweden AB. Such ownership registration, which may be temporary, must be completed by Friday 17 April 2020. This means that the shareholder must notify the nominee in ample time prior to this date.

 

The notification shall include name, personal or corporate registration number, address and telephone number, as well as information of any advisors (at the most, two). Further information can be found in the notice.

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
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

Anders Narvinger

Chairman since 2003.

Born: 1948.
Formerly President of Teknikföretagen and President and CEO of ABB Sweden.
Education: BSc. Eng from the Faculty of Engineering at Lund University, BSc. Econ from Uppsala University.
Chairman of the Board: ÅF AB.
Independent of company and major shareholders.
Number of shares in Alfa Laval: 40,000. 

Anna Ohlsson-Leijon

 

Board member since 2017.

Born: 1968.
Head of Major Appliances Europe and Executive Vice President, AB Electrolux.
Former positions include CFO of AB Electrolux, CFO of Electrolux Major Appliances EMEA, Head of Corporate Control and Services at Electrolux, Group Treasurer and Head of Internal Audit at Electrolux.
Education: BSc. Econ. from Linköping University.
Independent of the company and of major shareholders.
Number of shares in Alfa Laval: 2,000.

Henrik Lange

Board member since 2018.

Born: 1961.
President and CEO of Gunnebo AB
Previously 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.
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 and 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: -

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 Medical 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.

Heléne Mellquist

Board member since 2019.

Born: 1964.

President, Volvo Trucks Europe.
Former positions include CEO of Transatlantic AB, as well as several different leading positions in Volvo Trucks, Volvo Buses and Volvo Penta.
Education: BSc. International Business Administration & Economics, University of Gothenburg, Sweden. Executive Program Stockholm School of Economics.
Board member of Thule Group AB and Cavotec SA.
Independent of company and major shareholders.
Number of shares in Alfa Laval: 0

Maria Moraeus Hanssen

Board member since 2019.

Born: 1965.

Chief Executive Officer, DEA Deutsche Erdoel AG.
Nominated Chief Operating Officer and Deputy CEO, Wintershall DEA Holding GMBH (merger to close Q2 2019).
Former positions include CEO of ENGIE Exploration and Production International SA, CEO of GDF Suez E&P Norge AS and several leading positions in Aker ASA, Statoil ASA (now Equinor ASA) and Norsk Hydro ASA.
Education: Degree in Petroleum Engineering, NTNU Norwegian University of Science & Technology, Norway and Degree in Petroleum Economics and Management, Institute du Petrole, IFP School, Paris, France.
Independent of 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: -

Susanne Jonsson

Employee representative since 2016.

Born: 1965.
Employed by Alfa Laval since 2008.
Employee representative for the Swedish Confederation of Professional Associations (SACO).
Number of shares in Alfa Laval: - 

Group management

tom erixon 150x150.pngTom Erixon 

President and CEO of Alfa Laval

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: 81,200.

Jan Allde Chief Financial OfficerJan Allde

Chief Financial Officer

Born: 1967.

Employed by Alfa Laval since 2018.

 

Chief Financial Officer since 2018. Previously held several international positions in ABB during the years 1991 to 2017, most recently as the Senior Vice President & Chief Financial Officer for Americas.

Education: BSc, Business Administration & Finance, Stockholm University, Sweden.

Number of shares in Alfa Laval: -

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 ÅklundhSusanne Pahlén Åklundh

President, Energy Division.

Born: 1960.

Employed by Alfa Laval since 1983.

 

President of the Energy Division since 2017. Former positions include President of the Equipment Division, Head of Mid Europe and Nordic, and Head of the Process Industry segment.

Board member of Trelleborg AB.

Education: BSc. Eng.

Number of shares in Alfa Laval: 10,000.

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 2012.

 

President of the Marine Division since 2019. Former positions include President of Business unit Pumping Systems and Global Head of the Marine & Offshore Systems Segment in Alfa Laval, and also several international managment positions in Aalborg Industries between 1995 and 2011.

Member of the investment committee of Maj Invest Equity Southeast Asia II K/S.

Education: Master of Business Administration - University of Chicago, USA, and Graduate Marine Engineer - Directorate of Marine Engineering and Training India.

Number of shares in Alfa Laval: -

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.

Peter Torstensson CommunicationsPeter Torstensson

Senior Vice President, Corporate Communication

Born: 1955.

Employed by Alfa Laval since 1999.

 

Senior Vice President, Corporate Communications since 1999. Former positions include President of Borstahusen Informationsdesign.

Number of shares in Alfa Laval: 66,000.

Pascale Gimenez HRPascale Gimenez

SVP Human Resources

Born: 1966.

Employed by Alfa Laval since August 1st, 2018.

 

Former positions include HR Director within Sandvik and Senior Vice President HR & Organization EMEA at Electrolux.

Education: Master in Marketing from ESSEC Business School and Agricultural Engineer ISAB from 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

Nina Bergman
Authorized Public Accountant, EY.
Born: 1979.
Elected deputy auditor at the Annual General Meeting 2018.

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

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.pdf

Members

Members are appointed annually at the Board’s statutory meeting. In 2019, the Committee comprises Anna Ohlsson-Leijon (Chairman), Henrik Lange and Heléne Mellquist.

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 2019, the Committee comprises Anders Narvinger (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 December 1, 2016. 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