The task of the President is to manage operations in accordance with the guidelines and instructions of the Board of Directors. In connection with this, the President shall ensure, through necessary control systems, that the Company conforms to applicable laws and regulations. The President reports at Board meetings and shall ensure that the Board receives factual, complete and relevant information which is required for the Board to be able to make decisions which are soundly based. Additionally, the President has a continual dialogue with the Chairman of the Board and keeps the Chairman of the Board informed about the development and financial position of the Company andthe Group.
AAK’s Group Management consists of 11 persons; the Group CEO, CFO, four Business Area Heads, CTO and ESC. The Group Management meets monthly, dealing with the Group’s financial developments, investments, synergy and productivity projects, acquisitions, joint Group development projects, management and competence provision and other strategic matters. The Board meetings are headed by the President, who makes decisions in consultation with the other members of the Group Management. The Group has a small number of employees in the Group staff, who are responsible for general Group activities, such as economy, finance, taxes, IT, internal control, strategy, investor relations, information and law.
AAK’s business areas is Chocolate & Confectionery Fats (incl. Lipids for Care), Food Ingredients (Food Ingredients Continental Europe, Food Ingredients UK & Americas) and Technical Products & Feed. The heads of the business areas are responsible for goals, strategies, roduct development, and earnings, cash flow and balance sheet of their respective units. The business areas are in turn organised in various sectors responsible for ongoing business matters. Control is exercised through internal boards, which meet four times a year. AAK’s President and group CEO then functions as Chairman of the Board and also the Group’s CFO participates. Other holders of positions, such as the Group’s Controller and Strategy Manager are co-opted as required.
In all countries where AAK has subsidiaries, there is a legal Country Manager. The task of the Country Manager includes representing AAK in respect of authorities in the country, coordination of the operational location and joint Group processes/projects, and ensuring that joint Group guidelines are conformed to.
For each such country, a member of the Group Management has been appointed with general responsibility for operations (Group Management Representative). These are superior country managers, and in most cases they function as board members of the local legal boards.