Effective and clear corporate governance contributes to the safeguarding of trust among AAK’s stakeholder groups and also increases the focus on business benefit and shareholder value in the company.
AAK’s Board of Directors and management team endeavour, through a high level of transparency, to make it easy for individual shareholders to understand the company’s decision-making process and to clarify where in the organization responsibilities and authorities reside. AAK’s corporate governance is based on applicable legislation, the Code, NASDAQ OMX Stockholm’s regulatory framework for issuers, generally accepted practice in the stock market and various internal guidelines. Where AAK has chosen to diverge from the rules in the Code, the reason is provided under each heading in this Corporate Governance Report.
AAK is a Swedish public limited liability company whose shares are traded on NASDAQ OMX Stockholm within the Large Cap segment, Consumer Commodities sector. AAK has around 10,300 shareholders. Its business operations are global, with a presence in almost 100 countries. As at December 31, 2016, the number of employees was 2,970. Responsibility for management and control of AAK is divided between the shareholders at the Annual General Meeting, the Board of Directors, its elected committees and the CEO in accordance with the Swedish Companies Act, other legisla¬tion and ordinances, applicable rules for companies traded on a regulated market, the Articles of Association and the Board’s internal control instruments.
AAK’s goal is to be the obvious first choice for its customers, and to create the best possible value for the company’s various stakeholder groups—in particular customers, suppliers, shareholders and employees. At the same time, AAK aims to be a good corporate citizen and take long-term responsibil¬ity. The aim of corporate governance is to define a clear allocation of responsibility and roles between the owners, the Board, the executive management team and various control bodies. In line with this, corporate governance covers the Group’s management and control systems. AAK’s general accounting principles and guidelines form the groundwork on which the company’s detailed and legalistic accounting rules are based. These can be found in the Annual Report 2016.